Thursday, Feb 22 2018 | Time 16:08 Hrs(IST)
image
image image
  • Odisha sanctions 29 road projects in naxal infested Koraput and Malkangiri district
  • Uber CEO says no change in India business after SoftBank deal
  • Dudhwa rail track to be heritage site, Rail factory at Jhansi: Goel
  • Cong stages walk out in Assam Assembly
  • Cong takes out farmers' morcha in Kolhapur
  • Security tightened for PM’s visit
  • PM confident of solution to Naga issue within months, says doors are open for talks
  • Playing for India is my ultimate dream: Abhishek Ambekar
  • Vijay Hazare Trophy: Andhra storms into semis after thrashing Delhi
  • BJD and BJP indulges in mudslinging as campaign comes to an end for Bijepur Assembly by poll
  • Panthers Party protests in Jammu against settling of Rohingyas
  • Cauvery issue unites TN, All party meet held to discuss SC verdict
  • Ramco Systems partners with ITOrizon to offer Next-Gen integrate supply chain
  • Reference rate fixed at 65 0458 against USD
World Share

South Africa's central bank denies directing banks on KPMG ties

JOHANNESBURG, Oct 6 (Reuters) South Africa's central bank said on Friday it had not given banks any instructions on their relationships with KPMG as a result of a scandal involving the auditing firm.
Sources told Reuters last week that the central bank had told top South African lenders they cannot fire KPMG, because this might undermine financial stability.
"The South African Reserve Bank would like to state categorically that it has not instructed banks on what steps they should, or should not take, with regards to their contracts with KPMG," the central bank said in a statement.
KPMG sacked its South African leadership last month after it said it had found work done for companies owned by the Gupta family, who are close friends of President Jacob Zuma, "fell considerably short" of its standards.
The Guptas and Zuma have denied any wrongdoing.
Several companies have fired KPMG as a result of its alleged involvement in the scandal, with South Africa's branded consumer products firm AVI Limited the latest firm to drop the global auditor.
Governor Lesetja Kganyago said on Sept. 21 the central bank was concerned about "regrettable" practices at KPMG and would engage banks and audit firms so that the regulator was better placed to manage any financial stability risk.
"These engagements have taken place but at no point did the SARB instruct banks on how they should deal with KPMG," it said.
KPMG South Africa's chief executive on Thursday told lawmakers the company would implement reforms to ensure the firm did not repeat "greatly disappointing" work it did for the Gupta family.
REUTERS AKC1549
More News

Aussie deputy PM to face leadership challenge

22 Feb 2018 | 2:15 PM

Canberra, Feb 22 (UNI) Australian Deputy Prime Minister Barnaby Joyce will face a challenge to his leadership when Parliament resumes on Monday, Xinhua news agency has reported.

 Sharesee more..

NK's Kim Yo-jong baby rumours fascinate SK

22 Feb 2018 | 1:18 PM

Seoul, Feb 22 (UNI) The sister of North Korean leader Kim Jong-un told officials in the South that she was pregnant during a recent visit to the Winter Olympics, South Korean media reports say.

 Sharesee more..

'You’re an idiot': Hungary’s FM blasts Luxembourg counterpart

22 Feb 2018 | 1:05 PM

Budapest, Feb 22 (UNI) Hungary’s foreign minister has branded his Luxembourg counterpart “an idiot” in a row over immigration, according to an Euronews report.

 Sharesee more..

Turkey warns of grave consequences in Afrin-Syria

22 Feb 2018 | 12:52 PM

Ankara, Feb 22 (UNI) A spokesman for Turkey’s president has warned of grave consequences after pro-Syrian government forces moved into Afrin in the north of Syria.

 Sharesee more..

Explosion at US embassy in Montenegro

22 Feb 2018 | 12:39 PM

Podgorica, Feb 22 (UNI) There has been an explosion at the US Embassy in Montenegro, the government said, according to a BBC News report on Thursday.

 Sharesee more..
image