KPMG CEO Statement - Key Developments

“Consistent with our promise to keep you updated on key developments, I would like to draw your attention to the facts below which are relevant for you to understand KPMG’s position:

- SCOPA - We have received a request to appear in front of Parliament’s Standing Committee on Public Accounts (SCOPA) on Thursday, 5 October in Cape Town. I will be accompanied by Modise Maseng (Head of Public Sector) and Gary Pickering (interim Chair of the Policy Board) to address all of the Committee’s questions.

- IRBA - KPMG South Africa is committed to cooperating fully with the IRBA inquiry and we have complied with IRBA’s requests for documents. I met with the CEO of IRBA and confirmed that the firm will continue to look at the speed with which we respond to their requests.

- Independent Inquiry - I would like to update you on the Independent Inquiry which KPMG International (KPMGI) announced on 22 September 2017. The Inquiry will be fully independent and the panel will be led by two experienced senior counsels. The panel members, the scope of the Inquiry, terms of reference and the estimated duration of the Inquiry will be announced on 12 October 2017. The findings of the Independent Inquiry will be made public. KPMG SA is fully committed to cooperating with the Independent Inquiry.

I will continue to engage with the media to explain further developments.”

Statement issued by Nhlamu Dlomu, KPMG SA CEO, 4 October 2017