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Sasfin to review its future engagement with KPMG

2017-09-19

Media statement

Sasfin to review its future engagement with KPMG

Sasfin will be changing its Independent Sponsor from KPMG Services (Pty) Ltd to Deloitte & Touche Sponsor Services (Pty) Ltd, effective as of Tuesday, 19 September 2017. This decision was made to ensure a separation of the role of external joint auditor to the Sasfin Holdings Limited Group with that of Independent Sponsor.

KPMG Inc. and Grant Thornton Johannesburg Partnership have been joint auditors of Sasfin Holdings Limited Group for 18 and 30 years respectively.

 In view of the well-publicised concerns recently raised with regard to KPMG as well as Sasfin’s commitment to good governance in respect of auditor independence and auditor tenure, Sasfin has decided to put its audit out to tender.

This process is expected to begin in November 2017.

ENDS

For distribution: 19 September, 2017

For media queries, please contact:

Cathryn Pearman

Head: Marketing and Communications

E-mail:     Cathryn.Pearman@Sasfin.com

Tel: (+27) (11) 809 7851

Cell: (+27) (82) 923 3214 Post:       

PO Box 95104, Grant Park 2051 

Web: www.sasfin.com

Sasfin Holdings Limited (“Sasfin” or “the Group” or “the Company”) is a bank-controlling company listed in the “Financials: Investment Services” sector of the JSE Limited (“the JSE”). Sasfin and its subsidiaries provide a comprehensive range of specialist financial products for Business and Wealth clients.