Scams South Africa

KPMG Deemed Incompetent In SCOPA Sitting

KPMG continues to fight its “Battle for Survival’ in south Africa whilst the news keeps coming about the clients parting away with this Auditing firm. The Latest appearance of their CEO Nhlama Dlomu in a questioning by Standing Committee on Public Accounts (SCOPA) just added to their woes as the firm has been alleged of not taking corrective steps in their SARS “rogue” unit report saga. Well, they must thanks WMC Boss Johann Rupert and its media houses for regularly giving their support by only highlighting few of its wrong doings and covering the rest by giving unreal facts on their Prime time.

KPMG South Africa

It’s worth mentioning here that KPMG must have played their last card by appointing a black CEO facing all the questions to gain the sympathy of the South Africa natives and this has been done as per the instructions received from its WMC boss Johann Rupert. But they might have forgotten the fact that people have now become aware of their True intentions and they cannot make people fooled anymore in their hands. KPMG was unable to answer why the SARS report was only partially withdrawn and why KPMG international got to be involved to review the same. KPMG also had not been able to answer on, why it decided to refund SARS the whole R23 million paid for the report, when only the One-Third of the report has been withdrawn by KPMG international. The Firm also was questioned about all the previous generated reports and whether those can be termed reliable on the grounds of their recent action in SARS report.

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Though, KPMG stated that all the previous “High risk engagements” will be rechecked, but SCOPA still doubted on the same as they understand that how a firm can just commit something wrong and then it itself saying to investigate in its own ways. On the other hand, SCOPA said that KPMG should’ve further investigated the role of Pravin Gordhan and should never have left that midway keeping everyone in doubts. The Firm should’ve also confirmed whether the “Rogue” unit exists and if it does what are the implications of it with all those, who have been a part of it. SCOPA further stated that the firm has left everyone in suspense about the involvement of Gordhan in the rogue unit by first giving all the facts in proof to prove him guilty and later termed him as innocent. Moreover, SCOPA found it exceptionally annoying that the firm is only concerned about their profits and not the well being of the country. They found it more sensible for the state auditor (Auditor General) to take care of auditing task, rather than a private firm with global interest doing it.

It must be noted here that even the BLF has said that “the scandal of, how KPMG was forced to withdraw its report that shows, Pravin Gordhan is a criminal, has been suppressed. The media has quickly turned the scandal into the relationship between Gupta companies and KPMG. The media has removed the fact from the public that KPMG has investigated Pravin Gordhan and found evidence that he had illegally operated a spy unit during his time as head of the South African Revenue Services (SARS).”

It’s worth mentioning here that KPMG has been the reason behind the conviction of a lot of Political personalities in the past for their wrong doings. This is only the time when the “Big Fish” was about to be caught, they stepped back with their report and this certainly put them into more doubts about their dignity of work, which certainly seems to be influenced by WMC boss Johann Rupert.

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Moreover, all the banks and many other companies, did cut off their ties with the OAKBAY investment, giving “Substantial risk to their image” as the reason, but the same firms are keeping a mum now in KPMG’s case under the influence of WMC boss Johan n Rupert,which should be investigated further.