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Tuesday, August 2, 2022 at 6:48 pm
The chief executive of KPMG’s United Arab Emirates (UAE) business has held a series of face-to-face meetings with major clients in an effort to restore confidence in the accountancy firm’s management following reports of a coup within the UAE firm .
KPMG Lower Gulf CEO Nader Hafer chaired a client meeting after a partner in the accountancy firm’s UAE business tried to oust him from the firm, the Financial Times reported.
Before the coup, partners in KPMG’s UAE practice were ousted from the firm over concerns over a conflict of interest in the decision to appoint Haffer’s brother-in-law Talal Cheik Elard to a senior role at the firm.
The partners also expressed concern about an election in which Haffer faced no opposition, securing a five-year extension to the company’s chief executive as head of its UAE operations.
KPMG Lower Gulf later said it would call new elections as it vowed to hire an outside law firm to monitor the election process and review the UAE company’s internal governance.
A spokesperson for KPMG Lower Gulf said: “In light of recent issues relating to our governance and our continued commitment to the highest level of public trust, KPMG Lower Gulf has initiated a process to engage an independent global law firm. review of its governance.”
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