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The company is being investigated by two auditing bodies in the country over work for entities linked to the Gupta family, who are accused of using their friendship with former President Jacob Zuma to siphon off state funds. They have all denied wrongdoing.
Chairman Wiseman Nkuhlu will continue to serve in an executive capacity but will revert to a non-executive role on May 1, KPMG said in an emailed statement Wednesday.
KPMG was also the auditor for VBS Mutual Bank, which collapsed in March amid a liquidity crisis.
Mr Ignatius Sehoole: “I'm very honoured & look forward to the opportunity to help lead KPMG SA. It's imperative that the profession rises to the challenges it is facing, & it's in the national interest that KPMG be part of the solution.” Full announcement: https://t.co/m2Xiwt9cMD
— KPMG South Africa (@KPMG_SA) November 28, 2018
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.