Guptas find new auditors (after being dumped by KPMG)

Gupta-owned Oakbay Resources on Thursday announced it appointed SizweNtsalubaGobodo as its new auditing firm.

This comes after KPMG, Absa‚ FNB‚ Nedbank and Standard Bank cut ties with Oakbay over potential “reputational risk”.

The Money Show’s Bruce Whitfield interviewed Dr Steven Firer, Research Associate at Gibs.

Firer spoke about what auditors are required to look at in the process of accepting a client.

Scroll down for quotes from the audio below.

New auditors have to follow a strict regimen before taking on business from old auditors.

Dr Steven Firer, Research Associate at Gibs

The new auditors must consider the integrity of their clients.

Dr Steven Firer, Research Associate at Gibs

Would the reasonable auditor accept the appointment?

Dr Steven Firer, Research Associate at Gibs

The old auditors would have to have given a very clear explanation why they chose to resign.

Dr Steven Firer, Research Associate at Gibs

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
[Breaking news!] Transnet CEO Siyabonga Gama served with suspension notice

[Breaking news!] Transnet CEO Siyabonga Gama served with suspension notice

The Money Show’s Bruce Whitfield interviews Pieter du Toit, the assistant editor at News24.

Rand nosedives as South Africa flirts with recession

Rand nosedives as South Africa flirts with recession

The Money Show’s Bruce Whitfield interviews George Glynos, Head of Research at ETM Analytics.

'New law threatens to wipe out vaping in South Africa'

'New law threatens to wipe out vaping in South Africa'

The Money Show’s Bruce Whitfield interviews Zodwa Velleman, CEO at the Vapour Product Association of South Africa.

The UAE is pumping billions into the Horn of Africa

The UAE is pumping billions into the Horn of Africa

The Money Show's Bruce Whitfield interviews Africa correspondent Lee Kasumba

ANN7 employee says Indian staff favoured over South Africans

ANN7 employee says Indian staff favoured over South Africans

The Money Show’s Bruce Whitfield takes a call from James, a livid ANN7 employee.

Legal precedent favours banks and others that ‘fired’ Guptas as clients

Legal precedent favours banks and others that ‘fired’ Guptas as clients

Can a bank pull the plug on a client for reputational risk? The Bredenkamp vs Standard Bank case suggests it can.

Popular articles
[LISTEN] What 'The Lost Boys' lays bare about the truth of apartheid atrocities

[LISTEN] What 'The Lost Boys' lays bare about the truth of apartheid atrocities

To see 'The Lost Boys' as a book which merely exposed a paedophilia ring during the 80s is an oversimplistic view, experts explain.

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane spokesperson Bafuze Yabo gives details of their planned action against the City of Tshwane.

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Investigative journalist and author Jacques Pauw shares his thoughts on 'The Lost Boys of Bird Island' book.

'There is no verse in the Quran that says women should cover their faces'

'There is no verse in the Quran that says women should cover their faces'

Dr Taj Hargey says he is advocating for the ban of women wearing burkas in public because they look ridiculous.

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

[WATCH] Kid goes from 'be a fart machine at work' to 'I love you dad'

Khabazela shares tweets & videos that have gone viral including a parrot that told firefighters the F-word during its rescue.

[LISTEN] IRR believes list of targeted farms is genuine

[LISTEN] IRR believes list of targeted farms is genuine

Institute for Race Relations researches Terence Corrigan explains why they believe the list Afriforum has released is genuine.

'Black Tax'... working hard, earning well, but struggling financially

'Black Tax'... working hard, earning well, but struggling financially

Young(ish) South Africans tell stories of the mixed emotions they feel when supporting family members, and tips from an advisor.