Wits University cuts ties with KPMG

The firm is under fire after it withdrew its conclusions, findings and recommendations of its report into the so-called SARS rogue unit.

It has also admitted that the work done for the controversial Gupta family did not adhere to the necessary auditing standards. 

The decision by the Wits council was taken following a meeting with the current CEO of KPMG, international KPMG representatives and members of the University Council's Audit and Council Risk committees.

"The committees acknowledged that KPMG did take some actions, including releasing the CEO, COO and a number of senior partners to mitigate the reputational damage that it suffered as a result of its relationship with Gupta associated companies and its complicity in the SARS report, but felt that KPMG had not gone far enough," says vice chancellor Adam Habib.

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PWC will remain the University's external auditors.

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