SAICA and KPMG part ways
Johannesburg, 01 June 2018 – The South African Institute of Chartered Accountants’ (SAICA) Board has accepted KPMG’s offer to resign as SAICA’s external auditors, citing possible perceived independence concerns if they were to perform the 2018 audit as a result of the current SAICA-appointed Ntsebeza Inquiry which is looking into some of the former and current KPMG-employed Chartered Accountants and which will be concluding shortly. All the parties believe this is in the best interests of SAICA, its members and KPMG.
SAICA will now begin a tender process to appoint external auditors and its Board will table a progress report on this process to its members at the Annual General Meeting on 26 June 2018. The Board also wishes to advise that, following the completion of the tender process, a Special General Meeting will be called to approve the appointment of the recommended audit firm.
In the coming week, SAICA will be holding a media briefing on matters related to the Institute, its members and the chartered accountancy profession in general. The media are urged to look out for the coming press invite and to attend the press briefing.
SAICA, South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 46 000 members and associates who are chartered accountants [CAs(SA)], as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.
SAICA Media Contacts
Communication Coordinator: Corporate
SAICA Brand Division
011 479 0698
SAICA Nation Building
011 621 6913