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Cape Town - In case you missed it, here is a roundup of Tuesday’s top 5 reads on Fin24:
KPMG International chair apologises to SA
The Chair of KPMG International has apologised for the work the auditing firm did in South Africa.“I sincerely apologise for what went wrong in KPMG South Africa. This is not who we are,” said John Veihmeyer, the chairperson of KPMG International in a statement on Tuesday evening.
Sasfin drops KPMG after 18 years
In other KPMG-related news, Sasfin announced that it was dropping the firm as its JSE sponsor as well as its auditor after 18 years over concerns over good governance stemming from the Gupta saga and its fumble on the SARS "rogue unit" report.
Sasfin will be changing its independent sponsor from KPMG Services to Deloitte & Touche Sponsor Services, it said.
'The unravelling of the Gordian knot'
Former finance minister Trevor Manuel said on Tuesday that South Africa’s complex set of problems was busy unravelling, exposing the "bad in the country" including “shenanigans” at the South African Revenue Service (SARS) .
“We see the unravelling of what has been bad in the country. We see the challenges facing KPMG right now … We see challenges facing McKinsey. We see all the shenanigans in SARS,” he said. Manuel was speaking in his capacity as chair of emerging markets at the Old Mutual Investment Group's Tomorrow conference in Sandton.
The start of Bitcoin payments at Pick n Pay?
Pick n Pay, one of South Africa’s largest retailers, has successful trialed letting customers pay for groceries using the cryptocurrency Bitcoin. The retailer, together with tech companies Electrum and Luno, piloted letting staff pay for groceries via Bitcoin at its head office in Cape Town.
Uber on the offensive
Uber is accustomed to getting sued. Now it’s doing the suing. And it’s partly thanks to Breitbart News in the US.
The global ride-hailing company is taking advertising agency Fetch Media to court for click fraud, alleging that the firm improperly billed Uber for “fake” online ads and took credit for app downloads it had nothing to do with.
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