Barclays Bank of Kenya managing director Jeremy Awori(left) and Board Chairman Charles Muchene during the bank’s Annual General Meeting. PHOTO | SALATON NJAU | NMG
Barclays’ shareholders on Friday approved the hiring of KPMG as the bank’s external auditors.
KPMG has taken over the auditing of Barclays Bank of Kenya #ticker:BBK from PricewaterhouseCoopers, which has audited the lender for nearly two decades.
Barclays’ shareholders on Friday approved the hiring of KPMG as the bank’s external auditors.
“In line with best corporate governance practices, we rotate PwC who have served us for many years,” Barclays Kenya chair Charles Muchene told shareholders.
Barclays paid Sh20 million in audit fees to PwC for the year ended December 2016. The auditor raked in Sh175 million in professional fees from examining Barclays’ books in the past decade, according to the bank’s annual reports.
The Big Four - Deloitte & Touche, PwC, Ernst & Young and KPMG – dominate the list of accounting firms auditing NSE-listed banks.
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