Committee on Auditor-General supports Auditor-General of South Africa (AGSA) decision on KPMG and NKONKI

Auditor-General of South Africa (AGSA) is a chapter 9 institution that is only accountable to Parliament, the committee still appreciates its prerogative to take independent decisions 

CAPE TOWN, South Africa, May 7, 2018,-/African Media Agency (AMA)/- The Standing Committee on the Auditor-General has expressed its support of the decision made by the Auditor-General of South Africa (AGSA) to terminate contracts with Nkonki and KPMG auditing firms.

The AGSA briefed the committee about its decision today, saying the decision was made in order to protect its reputation and those of state entities. It further said that the decision was in the best interests of the international standard on quality control (ISQC1).

Co-Chairperson of the committee Mr Themba Godi said that although the AGSA is a chapter 9 institution that is only accountable to Parliament, the committee still appreciates its prerogative to take independent decisions. “In this case, the AGSA took the right decision,” he said.

The committee said that until Nkonki declares its shareholdings, it should not conduct any business with state entities.

Distributed by African Media Agency (AMA) on behalf of Republic of South Africa: The Parliament.