Unaccountabe 00018: KPMG – At the heart of state capture

The Big Four auditing firms – Deloitte, EY, KPMG and PwC – played a systemic role in economic crimes and State Capture. The evidence suggests that these firms have prioritised profit over professional duties and the law. Accountability and reform of the industry is thus essential. In July, Open Secrets released the latest Corporations and Economic…

The Cooking of the books: Economic Crimes and the Enabling Role of the Auditor

SA FM | Viewpoint | 8 July 2020 | The Auditor General recently released a report and it tells of gross financial mismanagement in the public sector. Now the public sector is bound to attract attention because it runs on taxpayer’s money. But this doesn’t necessarily mean that the same unscrupulous way don’t exist in…

Zondo Commission responds to civil society concerns: Hearings to resume on June 29

Zukiswa Pikoli | Maverick Citizen | 19 June 2020 | “In South Africa, the struggle against State Capture and corruption remains part of the struggle for human rights and social justice – we will work hard to ensure that institutions like the Zondo Commission are effective,” insists the Civil Society Working Group on State Capture.…

Unaccountable 00009: McKinsey – Profit over Principle

Big consulting firms take no credit and they accept no blame. This philosophy has enabled McKinsey & Company to profit with ease from work with authoritarian regimes, troubled businesses and corrupt state-owned enterprises. In South Africa, their work at Eskom and Transnet on some of the most infamous State Capture contracts reveals a story of…

Unaccountable 00008: Estina’s Banks

The infamous Estina Vrede Dairy Project was supposed to direct public funds to ‘empower’ indigent Free State farmers and develop local agriculture. Instead, almost all of the money was looted to benefit the Gupta enterprise. This week Open Secrets focuses on two of the banks that facilitated this injustice. As shown in The Enablers Investigative…

Unaccountable 00007: HSBC – The World’s Oldest Cartel

If Transnet was a golden goose for the Gupta family and their associates, then global banking giant HSBC played the role of tending their illicit nest eggs. This week Open Secrets examines the role of a key global enabler in the State Capture network. As shown in The Enablers investigative report, it takes more than…