Posts

Clamping down on wayward auditors

Auditors and auditing firms have been in the news in recent months. We read about the likes of VBS Mutual Bank, Steinhoff and others, where auditors seemingly turned a blind eye to irregularities. Firms such as KPMG, which has been implicated in scandals involving the Gupta-owned Linkway Trading as well as the South African Revenue Read more >

CW demands transparency in promised Bain investigation

Corruption Watch has expressed disgust at the corrupt conduct of yet another large multinational corporation, Bain & Company, as recently revealed at the Nugent Commission of Inquiry into SARS. The commission revealed that the global management consultancy had, in undertaking a massively costly investigation at SARS, allowed itself to be used to further the corrupt Read more >

CW welcomes Hawks’ arrest of Vrede scandal suspects

Corruption Watch applauds the Hawks’ morning raid on the Gupta compound, and the subsequent arrests in relation to the Vrede dairy farm investigations, including that of Ajay Gupta. Also arrested was Free State’s agriculture department head, Peter Thabethe. The organisation has repeatedly called for those implicated in multiple corruption scandals to be held accountable and Read more >

TI UK and CW call for Gupta banks to be investigated

First published on Transparency International UK A recent statement in the UK Parliament has generated widespread speculation that a major British bank has been involved in the South Africa’s Gupta scandal. In response, Transparency International (TI) UK and Corruption Watch, TI’s national chapter in South Africa, have called for a firm approach to be taken Read more >

Corruption rampant in South Africa – Corruption Watch

By Anine Kilian First published on Engineering News There are a multiplicity of factors that drive corruption in both public and private institutions throughout South Africa, nongovernmental organisation Corruption Watch chairperson Mavuso Msimang said on Tuesday. Addressing delegates at the ninth Chartered Secretaries Southern Africa Corporate Governance conference, in Johannesburg, he highlighted that, in the Read more >

AEPF: SA professionals do have ethical courage

Professionals working in the auditing and accounting fields in South Africa are generally keen to report unethical behaviour within their fields, provided the conditions under which they do so are conducive and supportive. There are risks involved in exposing corruption or unethical behaviour, and if companies and professional bodies do not curb incidents of intimidation, Read more >

How ordinary citizens can punish unethical conduct

By David Lewis First published on Business Day The survey on ethical practices in the auditing and related professions conducted by the Anti-Intimidation and Ethical Practices Forum (of which Corruption Watch is a founding member) is important precisely because of its focus on ethics. The one principle of the rule of law that has been Read more >

CW: KPMG, McKinsey must be investigated

CW weighs in on KPMG and McKinsey’s alleged involvement in Gupta-related business dealings Corruption Watch strongly endorses the investigation by the Independent Regulatory Board for Auditors into allegations of improper conduct of auditing firm KPMG, in particular its 2014 audit of Linkway Trading, the company alleged to be involved in the related Free State dairy Read more >

KPMG: ABC compliance still a big challenge

KPMG released its latest global anti-bribery and corruption survey earlier in September. The report, titled Anti-Bribery and Corruption: Rising to the challenge in the age of globalization, analyses some of the key risks companies face when dealing with bribery and corruption. The survey was completed in October 2014. The auditing company polled 659 respondents around the Read more >