KPMG suspends partner pending Gupta review

KPMG suspends partner pending Gupta review

Auditing firm KPMG has admitted that it should have stopped working with the controversial Gupta family sooner. 

Trevor Hoole- CEO, KPMG South Africa
KPMG South Africa

The company has confirmed it has suspended its lead audit engagement partner, pending a review of work it has done for companies linked to the Gupta family. 

The company also says it has relieved two other partners who were connected to this matter of their board and executive positions. 

Last month, Alexandra Forbes director Moses Kgosana resigned after he was implicated in the so-called Gupta-leaks. 

The allegations relate to his relationship with the Guptas while he was the chief executive officer and senior partner at KPMG. 

Kgosana was one of four KPMG partners who attend the Gupta family's lavish wedding at Sun City.

In a statement, the company's CEO Trevor Hoole says KPMG international (KPMGI) will conduct the review. 

"To re-enforce confidence in the rigour of the review, we have determined KPMGI will independently lead all aspects of the comprehensive review", says Hoole. 

He says they are leaving no stone unturned. 

"All aspects of our work related to the Gupta Group is being robustly reviewed, including client acceptance, execution and the quality of the work. Where any problems or issues are found, those KPMG individuals responsible will be held accountable," says Hoole. 

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