The board of Business Leadership South Africa (BLSA) has suspended KPMG SA’s membership, pending the outcome of the independent investigation currently underway into the firm’s goings-on.
Pictured: Nhlamu Dlomu, appointed recently as the new CEO of KPMG SA, after Trevor Hoole tended his resignation
The BLSA said in a statement:
"We want to emphasise that our members remain unfettered by this announcement in how they respond in terms of individual engagement with KPMG... While KPMG has badly let itself down in South Africa, BLSA recognises that the overwhelming bulk of KPMG's staff are committed, honourable and diligent individuals who were not implicated in 'state capture' activities. They and the firm remain an asset to the South African economy."
BLSA's decision to suspend membership followed direct engagement with KPMG, where the firm was given the chance to present its case. BLSA noted that it was cogniscant the firm was taking steps to change its leadership and commence a process of "cultural change".
