• 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

    2018 Digital Accountancy forum and awards: Digital transformation

    The Accountant presents highlights from The Digital Accountancy Forum & Awards 2018 panel discussions

    read more

    2018 Digital Accountancy Forum and Awards: Tech deep dive

    The second panel session of the day saw experts discuss how new technologies should not just be seen as a threat, and could be used to improve accounting.

    read more

    Digital Accountancy Forum and Awards: The power of data

    The third panel discussion of the day saw panellists discuss some of the worries their clients have had, how to overcome them, and how data and technology are providing real business opportunities.

    read more

    Digital Accountancy Forum and Awards: The next generation

    With young people more mobile, and technology changing the industry rapidly, the final panel session of the Digital Accountancy Forum looked at how firms would need to adapt to the new reality

    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.