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This has not been the only incident of them having turned a “blind eye” or doing things that were questionable. 1. They looked the other way when 100+ million
by ismail 9y ago
This has not been the only incident of them having turned a “blind eye” or doing things that were questionable.
1. They looked the other way when 100+ million of public money was laundered out of South Africa.
2. The scheme literally stole money destined to uplift poor rural communities
3. To top it off, a portion of the money was used to write of an extravagant wedding as a business expense.
4. When a junior auditor raised his concerns about the audit he was shut down.
http://amabhungane.co.za/article/2017-06-29-guptaleaks-the-dubai-laundromat http://amabhungane.co.za/article/2017-06-29-guptaleaks-the-d...
http://amabhungane.co.za/article/2017-06-30-guptaleaks-the-dubai-laundromat-how-kpmg-saw-no-evil-at-the-sun-city-wedding-1 http://amabhungane.co.za/article/2017-06-30-guptaleaks-the-d...
http://amabhungane.co.za/article/2017-11-26-guptaleaks-kpmg-missed-more-money-laundering-red-flags http://amabhungane.co.za/article/2017-11-26-guptaleaks-kpmg-...
6. They put out false reports that were partly used as motivation to get rid of ministers fighting corruption.
https://www.timeslive.co.za/politics/2017-09-15-kpmg-cans-sars-rogue-unit-report-apologises-to-gordhan/ https://www.timeslive.co.za/politics/2017-09-15-kpmg-cans-sa...
KPMG were not the only multinational firm that were complicit in fleecing the South African tax payer of billions. See
Mckinsey:
http://amabhungane.co.za/article/2017-09-14-how-mckinsey-and-trillian-ripped-r16bn-from-eskom-and-planned-to-take-r78bn-more http://amabhungane.co.za/article/2017-09-14-how-mckinsey-and...
SAP:
http://amabhungane.co.za/article/2017-07-24-guptaleaks-another-software-giant-implicated-in-kickback-payments http://amabhungane.co.za/article/2017-07-24-guptaleaks-anoth...
T-systems:
http://amabhungane.co.za/article/2017-11-14-exclusive-gupta-negotiator-and-the-r4bn-transnet-it-deal http://amabhungane.co.za/article/2017-11-14-exclusive-gupta-...
- fjsolwmv 9y agoAuditors are never "independent". They work for someone. If that someone is government or a client, great. If the auditor works for management, maybe OK for finding employee malfeasance, but no good for management malfeasance. And of course, like tests, no audit can prove correctness, only can find flaws.