Barclays Africa Group will no longer be using KPMG as its joint auditors.
Owner of ABSA Bank, Barclays Africa Group, has withdrawn a recommendation that KMPG be reappointed as its joint external auditor for 2018.
The bank said in a statement:
“The appointment of KPMG as external auditors of BAGL will cease on completion of the statutory and regulatory audit and reporting matters relating to the 2017 financial year, which is expected to take effect by approximately 31 May 2018… The Board has carefully evaluated the ongoing and more recent developments and decided that it is no longer able to support the reappointment of KPMG.”
In a statement of its own, KPMG South Africa said it was disappointed by the decision but accepted it.
Pictured: Maria Ramos, CEO of Barclays Africa Group
