KPMG South Africa Names Ignatius Sehoole Chief Executive Officer

(Bloomberg) -- Auditing firm KPMG LLP named Ignatius Sehoole as chief executive officer-designate of its South African operations. He is expected to replace Nhlamulo Dlomu, who will be taking up a global role in the company, from May 1.

The company is being investigated by two auditing bodies in the country over work for entities linked to the Gupta family, who are accused of using their friendship with former President Jacob Zuma to siphon off state funds. They have all denied wrongdoing.

Chairman Wiseman Nkuhlu will continue to serve in an executive capacity but will revert to a non-executive role on May 1, KPMG said in an emailed statement Wednesday.

KPMG company was also forced to withdraw the findings of a report it compiled for South Africa’s tax agency that was used as evidence in a police probe against former Finance Minister Pravin Gordhan.

KPMG was also the auditor for VBS Mutual Bank, which collapsed in March amid a liquidity crisis.

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