KPMG inquiry details to be announced on Thursday

After an almost month’s delay‚ the details of the independent inquiry into KPMG’s work for the controversial Gupta family and their report on the South African Revenue Service’s so-called “rogue unit” will be announced this week.

A briefing will be held at the South African Institute of Chartered Accountants (Saica) offices in Johannesburg on Thursday.

Saica is playing an oversight role‚ to ensure that the inquiry was indeed established and that it was independent. It is also funding the inquiry.

Despite an earlier announcement that the senior counsel of the panel‚ its terms of reference and the scope of the inquiry would be made known on October 12‚ there was still no information available.

The inquiry will be led by a retired judge or an advocate. The announcement on how the inquiry would unfold will be made by the person selected to lead it.

The Independent Regulatory Board for Auditors is also investigating KPMG’s conduct.

On September 22‚ KPMG International announced that there would be an independent inquiry into the work of its South African arm.

The company’s global chairman at the time‚ John Veihmeyer‚ said that the firm was “in active discussions to identify a credible‚ senior‚ independent legal figure to lead the investigation”.

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