Firms will be forced to routinely change auditors
09 August 2012, 12:21
Nairobi - Capital News reports that listed companies may soon be required to rotate the audit firms they hire for services to ensure transparency.
The Capital Markets Authority (CMA) is considering proposing such a measure following the corporate governance concerns that surfaced at CMC Holdings.
A final report on CMC’s operations by the regulator released on Tuesday revealed that directors and management signed misleading financial statements consequently putting the firm on a precarious business model.
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