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Barclays defends KPMG pick after parent firm dropped S Africa unit - 9 months ago, 26 Maý 08:18

By: James Ngunjiri

Barclays 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 shareholders of the Nairobi Securities Exchange (NSE) listed tier-one bank voted in support of the proposed auditors during the bank’s 50th annual general meeting held in Nairobi.

Barclays management said there was no contradiction since the partnership in Kenya is a separate entity - “completely separate legal entity” -from the partnership in South Africa.

“The issues pertaining one entity, which is South African entity cannot be attributed to another entity. For that reason, we know, we as a Kenyan company are comfortable with the practice and partnership that exist here locally and that’s why we have proceeded with approving ...
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