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The Big Four auditing firms - Deloitte, EY, KPMG and PwC - played a systemic role in economic crimes and State Capture. The evidence suggests that these firms have prioritised profit over professional duties and the law. Accountability and reform of the industry is thus essential.
The link between corruption and lived experience is nowhere more obvious than the erosion of passenger train services in South Africa. Prasa’s service has declined so dramatically over the past decade that the majority of working-class South Africans who once relied on the affordable service...
we wrote about the role of Credit Suisse in the mega-looting in Mozambique. This week we turn our attention to the complicity of part Russian state-owned bank, VTB Capital. In 2016, 14 donors and the International Monetary Fund (IMF) stopped all lending to Mozambique, plunging the country into an economic crisis. Mozambique’s currency plummeted in value by 70% and its annual GDP growth rate fell from 6.7% to 3.8%. All this stemmed from the country’s “secret tuna-bond” loans. These loans worth $2.2-billion (about R30-billion) were hidden from the IMF, Mozambique’s other lenders and ...