April 17, 2018 / 2:55 PM / 5 days ago

South Africa's auditor general cancels all contracts with KPMG

JOHANNESBURG, April 17 (Reuters) - South Africa’s Auditor General said on Tuesday he is terminating all contracts with auditing firm KPMG over a string of recent scandals that have cast doubt over the international audit firm’s professional and ethical conduct.

“Recent media reports relating to the external audit of VBS Mutual Bank and the conduct of KPMG audit partners are some of the reasons that prompted the decision to withdraw all KPMG audit mandates with immediate effect,” Auditor General Kimi Makwetu said in a statement. (Reporting by Mfuneko Toyana Editing by James Macharia)

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