The Herald (South Africa)

Inquiry into KPMG’s Gupta work postponed

- Nico Gous

AN inquiry into KPMG South Africa and the work it did for the Gupta family has been postponed until further notice.

The hearings of the South African Institute of Chartered Accountant­s (Saica) were due to begin yesterday.

The so-called Ntsebeza Inquiry‚ led by Advocate Dumisa Ntsebeza‚ will probe the work KPMG South Africa did for the Gupta family and its role in the South African Revenue Service report on the “rogue unit”.

The Gupta family has been central to allegation­s of state capture.

KPMG South Africa’s work for the Gupta family led to the departure of nine senior executives.

MMMG Attorneys‚ secretaria­t to the inquiry‚ said on Saturday that the inquiry was still reviewing the evidence presented.

It said there had been numerous requests for extensions.

“The panel exercised its prerogativ­e to allow these extensions as they were deemed both necessary and feasible.

“In addition‚ the advent of the festive period also necessitat­ed further delays due to the unavailabi­lity of both the panellists and those making submission­s‚ due to respective predetermi­ned schedules.”

The inquiry will probe the work Saica members did at KPMG SA that might have contravene­d Saica’s code of conduct.

The panel found there was a “general lack of understand­ing” during the submission phase of the difference between the Ntsebeza Inquiry and an investigat­ion by the Independen­t Regulatory Board for Auditors (Irba).

Irba as an industry regulator is investigat­ing the conduct of KPMG SA and if implicated auditors should be deregister­ed.

Saica set up its inquiry to determine if implicated personnel are Saica members and should be discipline­d under Saica’s code of conduct.

“The panel’s sole focus is presently on current and former employees of KPMG who are members of Saica and have been adversely implicated in the relevant period‚” MMMG Attorneys said.

The Ntsebeza Inquiry is responsibl­e for the investigat­ion.

Its report will form the basis on which Saica may decide to discipline implicated members.

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