Corporate Culture and Its Influence on Accounting Practices: Lessons from KPMG and PwC in South Africa

Massoda Ma-Nlep
Muma Business Review  •  Volume 9  •  2025  •  pp. 002
In essence, an accounting firm is a company that helps its clients make sure their financial transactions are accurate and legal. The particularity of South Africa (SA) with the audit profession resides in the expectation that, in addition to the auditor’s duty to express an opinion on a client’s financial statements, the external auditor is also expected to highlight ‘reportable irregularities’ to the attention of an independent regulator: the Independent Regulatory Board for Auditors (IRBA) (Warren Maroun, 2012).

The adoption of the culture of wealth creation at any cost has induced these 2 accountancy firms in SA to behave like any other business in the pursuit of higher profits. Like any other corporations, KPMG and PwC had developed a recurring trend of protecting their gains at any cost, as they were willing to increase their profits through indulgence in price fixing, tax avoidance/evasion, bribery, corruption, money laundering and practices that show little regard for social norms and even laws (Pre
Corporate culture, accounting scandals in South Africa (SA), tax avoidance/evasion, bribery, corruption, money laundering.
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