Gordhan slams auditing firms involved in corruption
Government has been criticised for keeping mum on the controversy surrounding KPMG.
South Africa's first black woman chartered accountant, Nonkululeko Gobodo says it's now clear why there's so much corruption at State-owned entities.
Gobodo and former finance minister, Pravin Gordhan spoke on the developments at KPMG South Africa at Wits University last night. She says auditing firms and accountants need to play their role.
"Those who are responsible have nowhere to hide. We know the reason why and we cannot accept any excuses. This is a time of reflection for everybody. The auditing and accounting profession is key to the economy. Therefore, they have to find solutions," she says.
KPMG withdrew its findings of the so-called rogue unit report at SARS following an internal investigation. Gordhan echoed Gobodo's sentiments that auditors have become so familiar with businesses - that they're now partners in corruption.
"It's becoming collaborative in an effort to target particular individuals or serve the cause of State capture, or facilitate the disappearance of billions of rands of South Africa's money into the accounts all over the show - acting in the public interest. What should the repercussions be?," he says.
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Meanwhile, Parliament said yesterday that its medical aid scheme for MPs had cut ties with KPMG.