KPMG has appointed former SAICA president Ignatius Sehoole as the new CEO.
KPMG SA chairman Wiseman Nkhulu says Seehole will play a critical role in driving the renewal of the embattled auditing firm.
The scandal-riddled company says in the last eighteen months it has made sincere efforts to regain the trust and integrity of the auditing and accounting profession in South Africa.
KPMG has been re-admitted to Business Leadership South Africa.
The company says it is securing new clients and many clients that dismissed the firm have since resumed using its services.
But Nkhulu says the company still has a long way to go in rebuilding its reputation, which will be a key focus area for the New CEO.
KPMG’s troubles were sparked by its dealings with the Gupta family and the shoddy work it did on the SARS “rogue unit” report, as well as its role in the collapse of VBS Mutual Bank.
It subsequently lost many clients including Nedbank and government contracts.