SIBANYE-Stillwater is the latest company to dispense with the services of KPMG following its its corporate governance abuses and mismanagement of the VSB Bank audit.
“Following the on-going and more recent VSB Bank developments regarding, the Sibanye-Stillwater Board wishes to advise shareholders that a process of selecting a new independent external audit firm for the group, with respect to the financial year ending 31 December 2019, will commence following the AGM on 30 May 2018,” the company said in an announcement last week.
Sibanye-Stillwater is one of more than 10 companies, that includes Barclays Africa and African Rainbow Minerals, to cut ties with the auditing firm.
