South Africa's central bank says KPMG does not pose financial stability risk

South Africa's central bank says KPMG does not pose financial stability risk
The offices of auditors KMPG are seen in Cape Town, South Africa
CAPE TOWN (Reuters) - Global accountancy firm KPMG must be given space to "come clean" via an independent investigative process after being implicated in a scandal involving business friends of President Jacob Zuma, a central bank deputy governor said on Tuesday.

Addressing a monetary policy forum public meeting in Cape Town, deputy governor Kuben Naidoo said the troubles at KPMG, which audits several South African banks and lost a number of local clients recently, will not pose a financial stability risk to the banking sector.

(Reporting by Wendell Roelf; Editing by Ed Stoddard)

2017-10-11 08:48:19

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