Enabler or victim KPMG SA and State Capture

When Professor Wiseman Nkuhlu answered the call to head up one of the big four auditing firms in the country, KPMG South Africa, during a crisis, he had no idea that he was in for the ride of his life. Headline-making scandals that were so serious that they caused a virtual earthquake within the auditing profession in South Africa, led many to question the integrity of the profession.

KPMG SA was seen as an enabler of some of the state capture activities of the Gupta family. There was also the infamous SA Revenue Services Report, authored by KPMG and the involvement of KPMG in the collapse of the Venda Building Society (VBS) Bank.

In this book Professor Nkuhlu gives readers an intimate glimpse into what transpired after he took on the role of Chairman of KPMG South Africa from March 2018 to March 2020, as he struggled to understand how a 100?year old prestigious firm like KPMG became embroiled in state capture and corruption. Severe damage was done to not only KPMG, but also to the entire auditing profession.

Nkuhlu’s account from his insider perspective is a cautionary tale of what happens when good governance and warning signs are ignored; and the long road back from disaster. The lessons learned apply not just for the auditing profession, but also for any corporate or business interested in good corporate governance.

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