CBK proposes three-year limit for bank auditors to boost governance

What you need to know:

  • The impending rules come after external auditors were entangled in the collapse of three lenders, namely Dubai, Imperial and Chase banks.

The Central Bank of Kenya (CBK) has put banks on notice with plans to introduce three-year term limits for external auditors handling their books, in what is seen as the regulator’s response to corporate governance concerns in the sector.

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