PRETORIA – Auditor-General (AG) Kimi Makwetu has announced his office’s decision to terminate, with immediate effect, the auditing contracts with KPMG and Nkonki Inc., who do public sector audits on behalf of the Auditor-General of South Africa (AGSA).
Use of private audit firms
As the country’s supreme audit institution that audits South Africa’s public sector, the AGSA, due to the size of its audits, uses various private audit firms – such as KPMG and Nkonki Inc. to audit on its behalf and to augment its auditing staff. When conducting these audits, the contracted firms stringently follow AGSA auditing standards, which include layers of rigorous internal and external, independent quality assurances and peer reviews to ensure that quality audit work is produced.
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