The controversy at Abraaj is the latest to involve KPMG – The Wall Street Journal
JOHANNESBURG — Emerging market private equity fund Abraaj last made headlines in South Africa in 2016 as a potential suitor in the battle for Barclays Africa. That sizzled out, and it seems it may have been for the better for Barclays Africa, as Abraaj makes headlines for what look like more sinister practices, as the company goes through liquidation proceedings. The Dubai-based firm is accused of taking money from its funds and using it for purposes that weren't sanctioned. But what may not come as a surprise to many is that the Middle East affiliate of KPMG is drawing attention for the role it played as the group's auditor. – Stuart Lowman
By Simon Clark, William Louch and Nicolas Parasie
(The Wall Street Journal) – The unraveling of Abraaj Group, a once-highflying champion of emerging-markets investing, is drawing attention to the role played by its auditor, a Middle East affiliate of KPMG.
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