The capital markets regulator on Wednesday fined Deloitte after the audit firm failed to detect a non-existent Sh2.1 billion Chase Bank account at the central bank that enticed bond investors to offer the collapsed lender billions.
In addition to being fined Sh10 million, Deloitte faces further scrutiny after the Capital Markets Authority (CMA) asked the accountants regulator to probe the consultancy for failures that saw bond investors lose Sh4.8 billion after Chase Bank’s collapse.
