Barclays defends KPMG pick after parent firm dropped S Africa unit - News Summed Up

Barclays defends KPMG pick after parent firm dropped S Africa unit


By JAMES NGUNJIRIMore by this AuthorBarclays Bank of Kenya #ticker:BBK has defended the choice of KPMG Kenya as its external auditor weeks after its mother company Barclays Africa Group Ltd (BAGL) ceased to engage KPMG South Africa over integrity concerns. Friday, Barclays Bank of Kenya (BBK) shareholders approved KPMG Kenya as the lender’s external auditor for the second year. “The issues pertaining one entity, which is South African entity cannot be attributed to another entity. Following this approval, Barclays Kenya has until June 2020 to unveil its new brand in the market, subject to regulatory approval. Last month a petitioner rushed to court to block Barclays Kenya from using the name, saying it had already registered a company as Absa Group.


Source: Daily Nation May 26, 2018 08:15 UTC



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