Nine KPMG senior executives quit over Gupta scandal

2017-09-15 11:48:20.0 | Graeme Hosken |

Nine senior executives from the auditing firm KPMG have been forced to resign in a fallout over the company’s involvement with the controversial Gupta family.

The nine include the firm’s chief executive officer‚ Trevor Hoole‚ and chief operating officer and country risk manager‚ Steven Louw.

But KPMG has insisted it was not involved in any criminal activities.

“We were only the doers‚” KPMG SA interim chief operating officer Andrew Cranston told reporters in Johannesburg on Friday.

The announcement was made as KPMG concluded its international investigation into the company’s handling of all its Gupta linked accounts.

KPMG is one of four international firms which have launched major investigations into their work with the Guptas.

The others include consultancy firm‚ McKinsey‚ business systems company‚ SAP and disgraced UK public relations firm‚ Bell Pottinger.

Cranston said the company would pay all the money which they had made from the Guptas to civic organisations and causes in South Africa.

He said they would explain shortly how the money would be paid over to society.