Sasfin is terminating KPMG's role as an independent sponsor and has decided to put its audit out to tender as part of its commitment to good governance.
KPMG has cleared out its South African leadership and withdrawn its findings from a South African Revenue Services (Sars) report into the so-called rogue unit following an internal investigation which has revealed serious failings at the firm.
KPMG has been a joint auditor at Sasfin for 18 years.
Sars is stopping all work being done by KPMG and reporting the firm to the Finance Minister to be blacklisted.
Sasfin, along with SA's four major banks - Standard Bank, Barclays Africa, Nedbank and FirstRand - earlier this year also severed ties with Gupta-owned company Oakbay following allegations of state capture.
The Money Show’s Bruce Whitfield interviewed Sasfin CEO Roland Sassoon.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
We had to distance ourselves from KPMG…— Roland Sassoon, Sasfin
It doesn’t look good with regards to the Sars issue… it was the last straw.— Roland Sassoon, Sasfin
I feel terribly sorry for the 3000 people part of that organisation, 99% who, I’m sure, are ethical people.— Roland Sassoon, Sasfin
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviews Corruption Watch Executive Director David Lewis.
In other words; you’re probably a victim. The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Bruce Whitfield interviews Tax Ombud Judge Bernard Ngoepe.
Every day JZ’s re-shufflin'! The longest lasting Cabinet? 18 months! Political analyst Gareth van Onselen breaks it down.
The Money Show’s Bruce Whitfield interviews Adams about his attitude to money (hopes and fears, successes and failures, etc.).
The Money Show’s Bruce Whitfield interviews Independent Regulatory Board For Auditors CEO Bernard Agulhas.
ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
Makhabane says Ncwane was feeling weak yesterday and his wife phoned paramedics to check on him.
People do some very interesting things for a living, but some job titles are given more credit than others.
This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.
The EFF lawyer stole the show during the state capture report court battle.
After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?