Auditor-general fires external auditor after Business Day exposé
The Auditor-General of South Africa has terminated its contract with the auditing firm Crowe following revelations that a lead partner failed to disclose professional sanctions. The move aims to maintain the integrity and quality of public sector financial oversight.
Why it matters
Ensuring the credibility of external auditors is essential for public trust and the accountability of government financial reporting.
The auditor-general has terminated the services of professional services firm Crowe as its external auditor after Business Day revealed that the firm’s lead partner, Gary Kartsounis, had been sanctioned by the Independent Regulatory Board for Auditors (Irba) for shoddy work — a detail Crowe didn’t reveal to the office.
Business Day reported in July that Irba fined Kartsounis R400,000 in March after the auditing regulator found him guilty of poor work on one of the companies he was tasked with auditing. Kartsounis also played a key role in the firm’s contract with the AG.
External audits by firms such as Crowe are important for the AG and for public sector oversight by providing independent, objective assurance on financial statements and compliance.
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