KPMG ex­ec­u­tives quit

Sunday Tribune - - FRONT PAGE -

KPMG South Africa chief ex­ec­u­tive Trevor Hoole, chief op­er­at­ing of­fi­cer Steven Louw, chair­per­son Ahmed Jaf­fer and five se­nior ex­ec­u­tives re­signed on Friday over work the firm had done for the Gupta fam­ily.

The ac­count­ing firm also with­drew its South African Rev­enue Ser­vice “rogue unit” re­port and of­fered to pay back the R23 mil­lion fee it re­ceived for the re­port, or make a do­na­tion for the same amount to char­ity. KPMG was also seek­ing to take dis­ci­plinary ac­tion to dis­miss Jac­ques Wes­sels, the lead part­ner on au­dits of Gupta-linked firms, it said.

‘Spe­cial bill to help SAA pay back R6.8bn loan’

DEPUTY Pres­i­dent Cyril Ramaphosa con­firmed, dur­ing ques­tion-time in the Na­tional Coun­cil of Prov­inces this week, that a spe­cial Ap­pro­pri­a­tion Bill for a multi­bil­lion-rand bail-out for South African Air­ways (SAA) would be brought be­fore Par­lia­ment.

SAA has loaned about R6.8 bil­lion, which is due for re­pay­ment on Septem­ber 30.

Ramaphosa said the mat­ter would be re­solved through a twopronged ap­proach. “Any funds be­ing con­sid­ered will have to be ap­pro­pri­ated through a spe­cial Ap­pro­pri­a­tion Bill which will, in part, as­sist the air­line’s work­ing cap­i­tal and re­pay some of the ma­tur­ing debt,” he said.

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