By LUKE AWICHMPs have ordered a forensic audit of troubled Moi University in the face of myriad questions raised in the management of the institution. In the report, Gathungu has questioned huge financial investments made by Moi University in Rivatex East Africa Limited. The requirements are that when preparing consolidated financial statements, an entity combines the financial statements of the controlling entity and its controlled entities line by line. Gathungu said a comparison of the amounts in the financial statements of the Moi University and Rivatex East Africa Limited as at June 30, 2020, exposed several inconsistencies. In part of its financial records under miscellaneous, Moi University expense said it used Sh24.7 million on the textile firm.

Source: The Star October 10, 2024 17:16 UTC