INTERNATIONAL – KPMG South Africa is winning back customers and no longer bleeding staff as the auditing firm rebuilds an image tarnished by a series of scandals.
“The market is beginning to acknowledge and accept the changes that we have made,” Chief Executive Officer Ignatius Sehoole said in an interview at KPMG’s Johannesburg office. More companies no longer fear they are “taking a risky bet by doing business with us. Everyone is also concerned about their own reputation.”
The firm has secured a number of new mandates in industries such as telecommunications, mining and information technology, he said. KPMG has spent the past two years increasing the independence of its board, adding layers of security to its auditing processes and reviewing the risk profiles of clients, the CEO said.