KPMG has admitted its South African office had missed red flags in auditing the Gupta family's companies.

KPMG loses third client in South Africa

McKinsey has also been hit by the continuing fallout from the growing political scandal involving South Africa's Gupta family that has already caused the collapse of British PR firm Bell Pottinger.

The entire professional services sector is splitting its activity in two.

KPMG's South African boss quits amid scandal

The head of KPMG's South African office and seven other senior executives have quit after an internal investigation found that work done for the politically connected Gupta family fell "considerably short" of the auditing firm's standards.