Warren Thompson | Business Live and Financial Mail| 2 July 2020|
When Good Auditors Go Bad
The auditing industry is in urgent need of serious reform, says a new report by advocacy group Open Secrets, in part because the public expects so much more than it has delivered so far.
The future of the audit industry hangs in the balance, as a raft of indiscretions and, in some cases, flagrantly criminal activity, has tarnished an industry critical to SA’s investment reputation.
This week, advocacy group Open Secrets publishes a searing report into the practices of “the big four” — KPMG, Deloitte, EY and PwC — dismantling the notion that the auditors have been unfairly criticised for their failures, and setting out just how it believes the profession must be reformed.
