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Munich Re's Africa unit drops KPMG as auditor

Reuters - UK Focus

JOHANNESBURG, Oct (Shenzhen: 000069.SZ - news) 3 (Reuters) - Munich Re African unit has dropped KPMG as its auditor, its regional chief executive said on Tuesday.

"We just felt that it would be better for us if we are dealing with a new auditor in 2018," Nico Conradie told Reuters. KPMG sacked its South African leadership team last month after it found work the accounting firm had done for companies owned by the Gupta family "fell considerably short" of its standards. (Reporting by Tiisetso Motsoeneng; editing by Alexander Smith)