Call to conclude probe into KPMG

THE Independent Regulatory Board for Auditors (IRBA) wants to wrap up the investigation into the conduct of KPMG over its dealings with the Guptas quickly.

The IRBA also told Parliament that it wants to bring amendments to the National Assembly to impose stiff penalties on transgressing auditors.

Yesterday, the IRBA told the standing committee on finance that KPMG had not been co-operating with the investigation.

KPMG is due to appear before the standing committee on public accounts tomorrow on the fall-out over the Sars rogue unit report and the Guptas.

The auditing firm converted the wedding expenses for the Guptas in Sun City in 2013 to a business expense.

IRBA chief executive officer Bernard Agulhas said their investigations would take up to 18 months, but they wanted to speed up the KPMG probe.

“We were fed information in bits and pieces. It is important we receive information on time because it impacts on our investigation. After we met KPMG, they committed they will give us information,” said Agulhas.

KPMG said yesterday it was complying with all of IRBA’s requests for information.

David Maynier, of the DA, said they wanted the IRBA to extend its investigation to include the Sars rogue unit report. KPMG withdrew the findingsof the report into the unit.

Thandi Tobias-Pokollo, of the ANC, said they must use the conduct of KPMG to close loopholes in the system. She said the investigation into KPMG must not have undue delays.

“We have to speed up the investigation so that it’s not a delayed process,” said TobiasPokollo.

EFF MP Floyd Shivambu said there must be serious action against KPMG if it was found guilty of wrongdoing.