Another one bites the dust. KPMG have lost yet another client as Telkom announced on Monday that it would be putting any new business it had planned with KPMG on hold.
South African telecommunications giant announced that they won’t give any new business to KPMG pending the outcome of an investigation into the firm by the Independent Regulatory Board for Auditors (IRBA).
Telkom says contracts that are already underway with the auditor will run continue and the expiration dates will still stand.
“The recent media reports surrounding KPMG South Africa and allegations around the conduct of some of its employees have been met with great concern,” the phone-services provider told staff. “Telkom conducts a substantial amount of business with KPMG and has taken the events very seriously.”
Telkom added once IRBA concludes their probe, a further decision will then be made.
KPMG spokesperson Nqubeko Sibiya told Fin24 that the firm approves of Telkom stance.
“We appreciate the fact that Telkom will wait until the investigation by the IRBA has been concluded. We ask our clients and the public to wait for the outcome of the IRBA investigation and the independent inquiry.”