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KPMG SA appoints new CEO

Nov 28 2018 09:46
Sarah Evans

KMPG South Africa announced on Wednesday morning that it has appointed Ignatius Sehoole as its new chief executive officer. 

Sehoole, who is expected to take up the position on May 1, 2019, will be taking over from Nhlamulo Dlomu.

“I am very honoured and look forward to the opportunity to help lead KPMG SA. It is imperative that the profession rises to the challenges it is facing, and it is in the national interest that KPMG be part of the solution," he said in a statement.

"My priority at KPMG will be to continue to restore client confidence and again make KPMG a firm where the best people wish to work. I look forward to the opportunity to accelerate this rehabilitation phase.”

The company said in a statement that Dlomu would be taking up a "new global role with KPMG, focusing on organisational culture change and ethical leadership". It first announced that Dlomu would be replaced as CEO in early October. 

It did not say what her new role would be. 

'Falling short'

Allegations that the SA branch of the auditing firm was complicit in state capture due to its past auditing of Gupta-linked entities and its work on the so-called 'rogue unit' report - whose findings it has retracted - have seen its reputation take a hammering. 

In September 2017 the firm cleared out much of its top leadership, and appointed Dlomu as its new head. After apologising for "falling short of the standards we set for ourselves," a number of local firms stopped using it as their external auditors. 

It was suspended from business advocacy group Business Leadership South Africa in September 2017. This suspension was lifted last month, with BLSA praising the firm's commitment to change and transparency. 

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