Business Leadership South Africa (BLSA), an association of leaders from some of the largest companies within the country, has lifted its suspension of KPMG South Africa.
BLSA suspended KPMG in September 2017 following the allegations of the firm’s involvement with high-profile corruption scandals in regards to the work conducted for Gupta family businesses.
The decision to lift the firm’s suspension was made by the BLSA board ‘in recognition of the progress made by the new leadership’ following the appointment of Nhlamulo Dlomu as CEO last year, as well as a new chairman and director of the firm’s board.
KPMG started searching for a new CEO following Dlomu’s departure, as she moves to take up a new role working with the network’s global chairman. KPMG stated it will employ the next CEO from outside of the firm in an effort to rebuild trust.
BLSA’s board was also encouraged by KPMG’s attempts to become more transparent.
BLSA CEO Bonang Mohal said: “BLSA commends the unwavering commitment of the new leadership at KPMG, including full cooperation of the firm in all investigations, various interventions at changing the culture and full commitment to becoming a solution to the challenges facing South Africans.
“BLSA has always maintained that the decision to suspend any of its members is never a death-knell. That is why, BLSA continues to work with the new leadership on how to change the culture and remain a transparent, responsible corporate citizen. BLSA will also participate in the strategy review process of the firm.”
