KPMG Press Release
KPMG South Africa announces that two partners, Sipho Malaba and Dumi Tshuma, yesterday tendered their resignations with immediate effect when faced with disciplinary charges brought against them.
Their resignations have been accepted.
Both cases are conduct charges, connected to VBS bank and include, but are not limited to, failure by the partners to comply with the firm’s policies and procedures regarding the disclosure of relevant financial interests.
When VBS bank recently went into curatorship, information arose in relation to these partners that prompted KPMG to launch an independent investigation, conducted by Bowmans. That investigation is ongoing and further action will be taken as appropriate.
KPMG South Africa chief executive Nhlamulo Dlomu commented:
“This has been a very disappointing episode for KPMG. There can be no tolerance, however, of any conduct that compromises our reputation and we have moved decisively to deal with the situation.”
© 2018 KPMG Services (Pty) Limited, a South Africa private company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.