All South Africa articles – Page 2

  • Blog

    Fallout of corruption in South Africa worries U.K. government

    2017-10-31T10:30:00Z

    The House of Lords, the U.K. Parliament’s upper chamber, debated this month what action the U.K. government is taking to prevent money laundering through British banks by families and businesspeople linked to the government of South Africa.

  • Blog

    KPMG makes leadership, governance changes following internal investigation

    2017-10-30T11:15:00Z

    KPMG International has taken several significant actions—including leadership changes, governance changes, and enhanced quality control procedures in certain areas—following an internal investigation concerning KPMG South Africa’s work on behalf of the politically connected Gupta family.

  • Blog

    Is a country sweep coming to South Africa?

    2017-10-19T09:15:00Z

    The recent corruption scandal to focus on McKinsey & Co., SAP, and KMPG in South Africa has driven home a truism that many in the compliance space have known for some time: South Africa is one of the most corrupt countries on earth. For U.S. and U.K. companies doing business ...

  • Blog

    Recovering from an ethical scandal

    2017-10-11T12:30:00Z

    How does a company restore its reputation after an ethical failure? Tom Fox explores how KPMG will react after its faulty audits of the embattled Gupta family.

  • Blog

    A promise to pay can be an FCPA violation

    2017-09-27T10:30:00Z

    The South African imbroglio involving the Gupta family and their relationship to the current President of the country continues to be a sinkhole of reputational kryptonite. Tom Fox reports.

  • Blog

    McKinsey and KPMG face blowback in South Africa

    2017-09-17T18:15:00Z

    Reports indicate both the international consultancy McKinsey and the international accounting firm KPMG have come under scrutiny for their work for the Gupta family and may be forced to self-disclose their findings to the U.S. government for potential FCPA violations.

  • Blog

    The ‘I did not apply my mind’ defense to insider trading

    2016-06-02T10:30:00Z

    Enforcement blogger Bruce Carton looks at a recent insider trading case, in which South Africa’s securities regulator agreed to reduce the defendant’s penalty because he claimed he “did not apply his mind to the applicable legislation at the time of the trading” but was now deeply sorry for his actions.