KPMG spirals deeper into trouble

Die Vryburger

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KPMG spirals deeper into trouble. Photo: Die Vryburger
KPMG spirals deeper into trouble. Photo: Die Vryburger

Two auditors of KPMG responsible for the audit of VBS Mutual Bank did not declare their personal financial interests in the bank.

Sipho Malaba and Dumi Tshuma resigned on Friday 13 April 2018, just before charges could be laid against them. Both had loans at the bank without declaring it.

VBS Mutual Bank was placed under curatorship in March 2018 after the Reserve Bank found that as much as R900 million was “missing” from the bank.

KPMG also conducts the audits of Nedbank, Standard Bank, Absa and Investec.

Read the original article in Afrikaans on Die Vryburger

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