KPMG promises to comply with VBS investigations

File: A former partner at KPMG Sipho Malaba is named in Advocate Terry Motau’s report, as having covered up the looting of VBS.

Reuters

JOHANNESBURG - KPMG says it cannot tolerate any conduct that compromises the quality and integrity of its work.

The auditing firm is responding to the latest forensic investigation into the affairs of VBS Mutual Bank.

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The report contains serious concerns about the conduct of a former KPMG partner.

In a statement, the company says when the matter arose in March, it investigated quickly, and the partner was removed from the firm.

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It is promising to co-operate fully with any investigations that follow the report.