Banking Act

25. Change of auditors to be notified to the Central Bank

Edition: 2024-12-27 · In force

25. Change of auditors to be notified to the Central Bank

(1)No institution shall remove or change its auditor except with the prior written approval of the Central Bank.

(2)An auditor of an institution shall forthwith give written notice to the Central Bank if he—

(a)resigns from office;

(b)does not seek to be re-appointed; or

(c)includes in his report or draft report on the institution’s accounts any qualification which did not appear in the accounts for the preceding financial year.

(3)An institution aggrieved by a decision of the Central Bank under subsection (1) may appeal to the Cabinet Secretary within fourteen days.

(4)The decision of the Cabinet Secretary under subsection (3) shall be final.[Act No. 13 of 1994, s. 11.]

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Source: Kenya Law