May 4, 2018 / 3:45 PM / 5 months ago

South African regulator to review KPMG's local turnaround strategy

JOHANNESBURG, May 4 (Reuters) - South Africa’s Independent Regulatory Board for Auditors (IRBA) said on Friday it had appointed a specialised team to review the turnaround strategy of KPMG’s scandal-hit South African arm.

The problems at the audit firm’s South African unit, which has lost more than 10 clients in the country including Barclays Africa Group and the South African government, began over work it did for a company owned by the Gupta family, who are alleged to have used their links to former president Jacob Zuma to amass wealth. Zuma and the Gupta’s have denied any wrongdoing. (Reporting by Tanisha Heiberg; Editing by Susan Fenton)

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