Any contracts underway with the auditor and consulting firm will be completed and their expiration dates will stand, the Pretoria-based company said in an email to all staff seen by Bloomberg. A further decision will be made when the probe by the Independent Regulatory Board for Auditors into work for the politically connected Gupta family has been concluded. The news was first reported on Monday by Johannesburg-based Business Report.
“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.”
AVI said Friday it will stop using KPMG once its 2017 financial year-end audit is completed.
The scope and estimated duration of KPMG’s independent inquiry are due to be announced on Thursday, and the findings will be made public.