African Rainbow fires KPMG as auditor

African Rainbow fires KPMG as auditor

African Rainbow Minerals, also known as ARM has dropped KPMG as its auditor earlier today.

African Rainbow now, joined a host of other local companies breaking ties with the firm caught up in an influence-peddling scandal.

KPMG has been losing clients after its own investigation last month found flaws in work it did for the tax collection agency and the Gupta family, wealthy businessmen accused of using their friendship with President Jacob Zuma to win government contracts.

The Guptas and Zuma deny wrongdoing and say they are victims of a politically motivated witch-hunt.