Confidential out-of-court settlement between VBS and KPMG was R500m: source

And once again the criminals are free to loot again, with only a slap over the wrist for their crimes.... It's a freaking joke that the people that can actually do something about it, do absolutely nothing!!!

In 2023, KPMG's global revenue was $36.4 billion, marking an 8% increase from the previous year. Source; statista.

I think R500 m is pretty good. Remember, the thieves were primarily at VBS and Councilors, mostly ANC

We demand transparency when it concerns government but we accept this clandestine , opaque deals when it is the fraud committed by the private sector. This is a public issue and concerns thousands of the poorest citizen of this country . The agreement should be made public.

Fully agree that all guilty parties should be prosecuted.

A claim against the auditors would be based on professional indemnity claim whose outcome is not always certain and such claims usually take years to settle, so at times this kind of settlement becomes pragmatic. If the Police and Courts do their part, more money could be recovered from those who benefited illegally from the theft.

Why has Deloitte not paid a similarly big fine for signing off on fraud multiples bigger that this at Steinhoff?

"It's not the principle, it's the money!" Why has the money not been recovered from the guilty, (EFF), parties? It should be easier to successfully prosecute these criminals now that KPMG has admitted guilt?

Indeed covering themselves