Government cuts ties with KPMG and Nkonki Inc

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Auditor-General Kimi Makwetu says his department could not continue its relationship with auditing firms, KPMG and Nkonki Inc, while there was a clear breakdown of public trust in the firms.

Makwetu on Tuesday terminated government’s auditing contracts with KPMG and Nkonki Inc, citing reputational concerns.

“We decided the best thing for us is to minimise and mitigate the risk of having to contend with audit opinions arising from this rut,  so that the public representatives and the public do not have to look to us as to why we continue to engage these services – where there is ample evidence of trust, between them and the examiners of this accounting records being broken.”

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