05/10/2017 07:05 SAST | Updated 05/10/2017 07:22 SAST

KPMG Set To Face A Grilling In Parliament

The firm will have to answer for its role in the Sars rogue unit report and its relationship with the Gupta family.

Siphiwe Sibeko / Reuters

Auditing firm KPMG is set to face a grilling from Parliament's standing committee on public accounts on Thursday morning, Fin24 reported.

KPMG's recently appointed CEO Nhlamu Dlomu reportedly said the firm's head of public sector, Modise Maseng, and the interim chair of the firm's policy board Gary Pickering would address all of the committee's questions.

KPMG has been dropped by some of its major clients, including Wits University, which said this week that it could no longer keep KPMG on as its auditor in light of the revelations against it. Specifically, KPMG's role in authoring the discredited Sars "rogue unit" report and its work for the Gupta family.

READ: 'KPMG Didn't Go Far Enough', Says Wits University

On Wednesday, Bloomberg reported that Nedbank and Investec had upped the pressure on KPMG to make public the results of an independent investigation into the work it did for the Guptas.

Standard Bank and Old Mutual also said they were disappointed in the firm's conduct and were reviewing their relationships with KPMG.

According to Fin24, KPMG has also reportedly vowed to cooperate with a probable probe by the Independent Regulatory Board for Auditors (IRBA). The IRBA reportedly told Parliament this week that it was "likely" to investigate the individual auditor who signed off on the Sars "rogue unit" investigation.