Former Mbeki advisor appointed KPMG chairperson

Image: City Press/Sipho Maluka

Professor Wiseman Nkuhlu and Ansie Ramalho will start as chairperson and independent director on 1 March 2018.

KPMG South Africa CEO Nhlamu Dlomu said Nkuhlu and Ramalho will bring "a huge amount of relevant experience" to "rebuild the firm".

KPMG South Africa appointed nine executives in September last year to restore trust in the auditing firm. Clients distanced themselves from the firm over their involvement with Gupta family.

KPMG International said in September last year the South African unit will face an independent inquiry after an internal investigation found its work for companies associated with the Guptas was not up to scratch.

KPMG South Africa also withdrew the findings, recommendations and conclusions of a report it produced for the South African Revenue Service (SARS) "rogue unit". The report was used to axe former finance minister Pravin Gordhan.

Nkuhlu is currently chancellor of the University of Pretoria and a member of the advisory board of the South African Institute of Chartered Accountants (SAICA). He has over 30 years of experience in the public and private sector, serving as board director and part of the audit committee of various companies. He was an economic advisor to former President Thabo Mbeki.

"This is a defining time for our country and I believe our profession has a unique and vital role to play," Nkuhlu said.

Ramalho is a lawyer by training and is currently a non-executive director and consultant to the International Finance Corporation, a subsidiary of the World Bank. She also does consulting, writes and teaches on corporate law, directors' duties and corporate governance. She previously served as CEO of the Institute of Directors.

"I look forward to using my experience to help KPMG as it looks to become industry leaders on corporate governance," Ramalho said.

Source: The Times