What should KPMG do?
KPMG must first be proven guilty. Let us ask all those businesspeople and firms who claim to be so ethical but benefited from apartheid business to also pay back the money to Treasury.
This vilification of KPMG on the basis of completely unsubstantiated allegations is unwarranted until the various investigations prove that they did something wrong. What about the thousands of staff and professionals working there? What about the thousands of chartered accountants trained by them annually with probably well over 50% being black? What about the businesses and auditors of the actual companies where the money was stolen? What about the banks who processed the money? Aren’t they all responsible for Fica on cash flow? It all smacks of complete irresponsibility and convenient sensationalism because KPMG is a very visible and sensational target. Report sensibly and let the investigations run their course.
Marc Gardiner Gauteng
Individual managers should be brought to book. The entire organisation cannot be penalised for the failure of a few. KPMG needs to react quickly though and demonstrate that this type of practice is not part of the company ethos. Any profits from the Guptas should be made available to those wishing to follow a career in accounting.
KPMG should take its hiding honourably and return the Gupta fee money to the SA Revenue Service.
Peace Muguza Gauteng
The audit industry is corrupt with the Big Four being used to clean up dirty companies. KPMG should donate the money.
Richard Angus Gauteng
The facts from staff at KPMG point to the senior partners being aware that matters were questionable.
An audit firm should not only be independent, it should also be seen to be independent. KPMG has failed miserably on this score.
Jennifer Western Cape
Any auditing company covering up fraudulent or suspicious activities should be closed down and the guilty partners jailed.