KPMG bosses in denial about damage caused to credibility and trust - economist

Economist Dr Iraj Abedian says that senior executives at KPMG remain in denial that there has been a breach of ethics by the firm.

Abedian says his decision to it was an ethical decision to step down from Munich Re of Africa (MRoA)'s board, over their continued involvement with disgraced audit firm.

Abedian says he made the call after two months of ongoing engagement with MRoA.

KMPG was allegedly involved in syphoning taxpayer's money to pay for a lavish Gupta family wedding at Sun City.

Abedian says it is problematic for companies to associate with auditors who face reputational risk.

Last week, the Institute of Directors has temporarily suspended all co-branded activities with KPMG.

Read: Institute of Directors breaks off ties with KPMG, pending outcome of probe

Corruption Watch executive director David Lewis says the auditing firm must be held accountable, along with other private sector firms implicated in state capture and corruption.

Also read: KPMG under fire for alleged role in state capture

Lewis adds that the role of consultancy firm McKinsey must also be investigated and says pressure must be put on the Hawks and NPA to act.

He explains that KPMG has lot the trust of many companies and

Lewis and Abedian concur that more companies must distance themselves from KPMG or face being associated with organised crime.

Take a listen to them discuss the important role of corporate accountability:

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KPMG bosses in denial about damage caused to credibility and trust - economist

KPMG bosses in denial about damage caused to credibility and trust - economist

Economist Dr Iraj Abedian says it is problematic for companies to associate with auditors who face reputational risk.

State capture allegations have left a huge mark against KPMG  - Brown

State capture allegations have left a huge mark against KPMG - Brown

The Institute of Directors has temporarily suspended all co-branded activities with the firm.

Institute of Directors  breaks off ties with KPMG, pending outcome of probe

Institute of Directors breaks off ties with KPMG, pending outcome of probe

The Institute of Directors has temporarily suspended all co-branded activities with the auditing firm KPMG.

KPMG under fire for alleged role in state capture

KPMG under fire for alleged role in state capture

The Money Show’s Bruce Whitfield interviews Pan-African Investments and Research Services CEO Dr Iraj Abedian.

There is no sign of remorse from KPMG -  Sygnia CEO

There is no sign of remorse from KPMG - Sygnia CEO

Sygnia has decided to fire KPMG over its alleged role in state capture.

We need to be unapologetic about dealing with corruption - Maria Ramos

We need to be unapologetic about dealing with corruption - Maria Ramos

To restore people's confidence perpetrators must be dealt with says the Chief Executive at Barclays Africa, Maria Ramos.

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