• Register
Return to: Home > News > Regulation > Bidcorp reappoints KPMG South Africa as external auditor despite recent scandals

Bidcorp reappoints KPMG South Africa as external auditor despite recent scandals

Bidcorp, a multinational food-service group, has reappointed KPMG South Africa  as its external auditor despite the recent scandals surrounding the Big Four firm which led to a loss of a number of clients.

In its recently released notice of annual general meeting 2017 explained that the board had “given serious consideration to the continued audit services provided by KPMG Inc. to the group following the grave allegations made against KPMG regarding their activities in South Africa. Bidcorp has made formal enquiries and held detailed discussions with both the local and international management teams of KPMG.”

The board was reassured by the remedial actions undertaken to strengthen the firm’s governance as well as the new leadership’s commitment to implement an independent investigation. “The Bidcorp board is of the opinion that the actions taken demonstrate KPMG’s resolve to address the issues in a fully transparent manner,” the AGM notice read.

According to the AGM notice Bidcorp’s activities are approximately 90% outside of the borders of South Africa and are independently audited by KPMG International in most of these separate jurisdictions.

Top Content

    Accountancy Europe: the winner takes it all

    Jonathan Minter spoke to Olivier Boutellis-Taft, chief executive officer at Accountancy Europe, about how technology could change the industry, and how training needs to keep up to enable the profession to develop

    read more

    Embracing global technology trends

    Accountancy Europe’s Digital Day 2018 found the European accounting profession looking to tackle the challenges presented by new technologies head on. Jonathan Minter reports from the day

    read more

    IMA Conference: automation of the audit

    At the annual conference of the Institute of Management Accountants (IMA) in Indianapolis, Deloitte partner Alex Smith gave a presentation on digital transformation in the profession. Joe Pickard spoke to Smith following the presentation to find out more about his views on the future of audit

    read more

    IMA Conference: technology and the human effect

    The annual conference of the Institute of Management Accountants (IMA) took place in Indianapolis this year. Members of the profession gathered to hear the latest from the institute and other market players, covering some of the challenges and opportunities the profession faces.

    read more

    The Caribbean: a digital paradise

    The ICAC hosted its 36th annual conference in June this year – very much looking to the future following a tough 2017 for the Caribbean. Jonathan Minter spoke with chief executive officer Misha Lobban Clarke

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.