KPMG to distribute R47m to civil organisations

File: KPMG executive chairperson Professor Wiseman Nkuhlu says the funding was an important step in ensuring redress for the actions of the past.

File: The chairman of KPMG South Africa is today asking for it to be seen as a changed business.

JOHANNESBURG - Embattled audit firm KPMG says it will try to right its wrongs by distributing R47-million to civil society organisations.

These are fees the company received while auditing Gupta company books.

KPMG executive chairperson Professor Wiseman Nkuhlu says the funding was an important step in ensuring redress for the actions of the past.

The money will go to the Democracy Works Foundation and Social Justice Initiative, among others.

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KPMG has faced a backlash after it admitted that work produced for the Guptas fell below industry standards.

The group was also hurt over its role in the SARS  “rogue unit” report and its handling of the books of the failed VBS Mutual Bank.

The audit company has lost a series of clients since then, including Nedbank, Absa and the office of the auditor-general.