Corruption Watch slams KPMG and Mckinsey (may refer them to the FBI in the USA)

Corruption Watch approves of the investigation by the Independent Regulatory Board for Auditors into alleged improper conduct of auditing firm KPMG.

The investigation relates to KPMG’s audit of Linkway Trading.

Linkway Trading is the company allegedly involved in the Free State dairy and Gupta wedding scandals.

Corruption Watch says the auditing firm’s explanation of the Gupta wedding audit is “unconvincing and inadequate”.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Corruption Watch Executive Director David Lewis.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

As a CEO you have a relationship with, probably, your top 20 clients.

Moses Kgosana, KPMG

It’s a professional relationship, and that’s all it was.

Moses Kgosana, KPMG

I paid for myself for independence reasons.

Moses Kgosana, KPMG

I wasn’t pushed [to resign].

Moses Kgosana, KPMG

This is a clear case of money laundering… It’s difficult to believe they [KPMG] didn’t [know about it].

David Lewis, Corruption Watch

KPMG may be in contravention of US anti-corruption laws.

David Lewis, Corruption Watch

We are actively consulting with our lawyers to make a referral to the FBI [regarding the Mckinsey case].

David Lewis, Corruption Watch

They [Mckinsey] paid a massive “facilitation fee”.

David Lewis, Corruption Watch

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