Regulatory board goes ahead with KPMG probe
The Independent Regulatory Board for Auditors says it will continue with its own investigation into KPMG.
On Friday, KPMG International withdrew its report on the so-called SARS 'rogue unit' - saying and it should no longer be relied on as it did not meet its standard of work.
KPMG South Africa says there'll also be disciplinary action following an investigation into the company's audits of Gupta companies.
The SARS report was used by the Hawks and the National Prosecuting Authority to launch an investigation into the so-called rogue unit which implicated former Finance Minister Pravin Gordhan.
KPMG says its audit work for Gupta entities and the SARS report fell short of its standards.
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The Independent Regulatory Board for Auditors says it's pleased that KPMG has made known its findings and is taking action in the public interest.
It said in a statement issued this morning that it's committed to performing a robust investigation in as short a time as reasonably possible to deliver on its mandate to serve the public interest.
The board intends meeting with the new team at KPMG to discuss their remedial action programmes.
Meanwhile, SARS says it will consider taking legal action against KPMG - saying it released the statement before giving it an opportunity to respond.