CAPE TOWN – KPMG says there’s no systemic risk within its organisation and it’s open to an independent inquiry into its work.
The auditing firm has, however, conceded that its work for Sars and Guptas’ Linkway Trading did not meet its standards.
The company’s top executives are appearing before Parliament’s Standing Committee on Public Accounts today to defend the work it does for government.
KPMG chief executive Nhlamu Dlomu says the company’s work for the last three years will be reviewed.
She says the firm can’t back up conclusions reached in the now infamous Sars report on a so-called rogue unit, because it doesn’t have the necessary legal expertise.
“We acknowledge the significance of getting those recommendations and conclusions incorrect.”
But Dlomu insists the majority of KPMG’s work is beyond reproach.
Members of Parliament, however, were suspicious of a full refund of R23 million to Sars for the withdrawal of three parts of the report.
They’ve suggested that the firm not bid for any more government work until it’s cleaned house.