KPMG South Africa has appointed Ignatius Sehoole as its new CEO, following the departure of Nhlamulo Dlomu in October.
Sehoole previously served as executive president of the South African Institute of Chartered Accountants (SAICA) from 2000–2009.
He is due to start his role on 1 May 2019 to comply with the requirements of audit independence rules. Wiseman Nkuhlu will continue to serve as executive chairman in the interim and will revert to his non-executive chairman role on 1 May.
Nkuhlu said: “While KPMG South Africa has changed substantially over the past year, the challenges facing both KPMG and the profession have intensified. With this in mind, the board felt it was important to appoint an external candidate to the firm with strong industry credentials.
“Ignatius will be able to build on the foundations Nhlamu established to restore trust in KPMG. He will also participate in efforts to reposition the profession with clients and the public.”
He continued: “We worked closely together during our time at SAICA and this gives me great confidence that he has both the character and experience to succeed in this role. His strong record in promoting black chartered accountants will also be a key asset in promoting transformation at KPMG.”
Sehoole said: “I am very honoured and look forward to the opportunity to help lead KPMG SA. It is imperative that the profession rises to the challenges it is facing, and it is in the national interest that KPMG be part of the solution.
“My priority at KPMG will be to continue to restore client confidence and again make KPMG a firm where the best people wish to work. I look forward to the opportunity to accelerate this rehabilitation phase.”
Dlomu stood down from her position after just over a year at the helm to take up a new role working with KPMG’s global chairman Bill Thomas.
It was a difficult year for Dlomu as the firm lost a range of clients including Barclays Group Africa and was banned from public sector auditing, following allegations of corruption in regards to work it conducted the Gupta family’s businesses.