We, however, took the extraordinary step to comment publicly on the developments surrounding KPMG last week as they are the auditors to three of the big four banks, as well as to other banks and insurance companies. Our interest stems solely from a public policy perspective that arises from our financial stability mandate.
We had noted with concern the regrettable auditing practices and serious errors of judgment that had occurred at KPMG and which had led to significant damage being inflicted on certain individuals, organisations, and the country as a whole.