International accounting

KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family.

An internal probe found that mistakes in two high-profile engagements did not run throughout its business.

The report is part of IASB’s better communication in financial reporting initiative.

PricewaterhouseCoopers reported 7 percent revenue growth worldwide Wednesday for fiscal year 2017, reaching a record $37.7 billion.

South Africa’s auditing regulator said KPMG LLP’s local unit hasn’t fully cooperated with the body’s investigations into work done for the Gupta family, who are alleged to have used political connections to win state contracts.

KPMG International has chosen Bill Thomas as chairman of the global network for a four-year term, succeeding John Veihmeyer, who is retiring after completing his term.

The Big Four network will examine its local member's work in certain engagements, as well as its entire client roster.

The Big Four firm's involvement with a wealthy family is putting it under pressure.

The Big Four firm has agreed to an inquiry by the South African Institute of Chartered Accountants.

As global companies implicated in a graft scandal in South Africa scramble to contain the damage to their reputations, politicians and law enforcement agencies are prevaricating and stalling official investigations.