TIES WITH GUPTA FIRMS SEVERED

TIES WITH GUPTA FIRMS SEVERED

KPMG Southern Africa, a member of the global advisory network, has ended a 15-year stint auditing companies controlled by the Gupta family, after the ANC and the public protector announced investigations into its alleged influence over the government. KPMG Southern Africa chief executive Tervor Hoole said the “association risk is too great” following the recent “media and political interest in the Gupta family’, Engineering News reported on its website, citing an internal e-mail. “Our very clear understanding is that this was a very reluctant decision on their behalf,” the Gupta family’s Oakbay Investments said on Friday. “KPMG confirmed Oakbay that no audit reason whatsoever contributed to this development.” Deputy Finance Minister Mcebisi Jonas last month said members of the Gupta family had offered him the finance minister’s job, prompting other senior ANC members to make similar claims.