Chase Bank auditors Deloitte did not inspect the failed lender’s IT system in annual audits, creating a loophole used by the bank’s management to hide details of billions of shillings siphoned from the bank.
A Capital Markets Authority (CMA) investigation report exclusively obtained by the Business Daily shows that a Sh14 billion hole was only discovered in 2015 after the Central Bank of Kenya (CBK) ordered an IT audit.
