The South African Communist Party (SACP) on Monday picketed outside the head office of auditing firm KPMG, in Johannesburg, in protest against the company’s role in “facilitating and supporting corporate capture of the State by the Gupta family”.

KPMG recently came under fire for its relationship with Gupta-controlled companies and its handling of a KPMG authored report that the South African Revenue Services (Sars) commissioned into a so-called rogue unit at Sars. KPMG had eventually withdrawn the report and apologised for it.

The SACP contended that KPMG had applied the “most corrupt, unethical, immoral and bankrupt auditing practices” in its service to Gupta-linked companies and Sars.

“The SACP believes that as a direct result of their activities to legitimise and provide cover to the corrupt activities of the Guptas, KPMG has undermined South Africa and plunged it into deep economic crisis. It is because of this immoral and corrupt relationship between KPMG and the Guptas that the country is now suffering the consequences of junk investment rating,” said the party in a statement.

The SACP alleged that when providing services to the Gupta’s Oakbay Resources, KPMG had fixed and manipulated the share price to ensure a successful listing.

Further, the SACP claimed that KPMG had provided services to the Gupta-linked acquisition of Optimum Coal Mine from Glencore and that it supported negotiations that influenced the acquisition price to the Guptas’ benefit.

KPMG was also accused by the party of trying to discredit former Finance Minister Pravin Gordhan by stating that he was responsible for the so-called rogue unit at Sars.

Lastly, the SACP alleged that KPMG senior partners and managers had attended the controversial Gupta wedding in Sun City as a “reward” for facilitating corporate capture of State entities.

“All these events and activities of KPMG triggered a series and chain of events that led to our country being rated junk investment by the rating agencies. Rating agencies relied on issues such as governance, political stability, poor state of SOEs [State-owned enterprises] amongst many other factors, at the core of which is corporate capture facilitated by KPMG,” stated the SACP.

The party further called on the working class to mobilise and protest any institution involved in the corporate capture of the State.