No one wants Guptas' cash‚ not even KPMG

Embattled auditing firm KPMG wants to donate its Gupta fees to “education and anti-corruption initiatives”.

Last year the South African Institute of Chartered Accountants (Saica) threw out R1.2-million gifted to its Thuthuka Bursary Fund by the controversial family’s company‚ Trillian. Now KPMG wants to donate R40-million it received in fees from one of the “Gupta-related entities to NGOs involved in education and anti-corruption initiatives”.

In an advert over the weekend‚ the firm called for education funding proposals.

“This commitment was made as an acknowledgment of mistakes we have made in the past‚ and is part of a broader strategy to ensure that we become more actively involved in making a suitable contribution towards pressing societal challenges facing the country‚” the advert reads.

“This commitment resides alongside the firm’s reforms that ensure we uphold the highest ethical and professional standards and understand our responsibility to be good corporate citizens. To enhance KPMG’s independence from beneficiary organisations‚ anti-corruption will be supported via conduit funds or implementing agents who will be sourced based on credibility‚ capability and capacity of the organisations.”

-For more on this story‚ please visit Times Select.