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33 Pages«<2930313233>
Chase Bank loss...another case of cooking the books?
Mainat
#601 Posted : Wednesday, April 20, 2016 10:35:39 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,580
Sources zenu kwani huwa ni Kirinyaga road?
Sehemu ndio nyumba
Much Know
#602 Posted : Wednesday, April 20, 2016 10:57:11 AM
Rank: Elder


Joined: 12/6/2008
Posts: 2,705
watesh wrote:
KulaRaha wrote:
Seems the Qataris have taken it?

I have seen this too on social media...oil money always wins

Any oil money coming to Kenya is either headed to garment securities of major infrastructural development most likely along SGR. Qatari has been pushing gava to issue another eurobond, yields in emerging markets Africa are very good, and Kenya as seen provides the most stable environment, they are "hedging" against oil price falls and they are really ready to gamble, second round of bonds coming soon, na zitanunuliwa sana, interest rates will slide down.
littledove
#603 Posted : Wednesday, April 20, 2016 12:47:55 PM
Rank: Member


Joined: 7/1/2014
Posts: 504
Location: sky
deleted
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
Swenani
#604 Posted : Wednesday, April 20, 2016 2:01:08 PM
Rank: User


Joined: 8/15/2013
Posts: 11,184
Location: Vacuum
Mainat wrote:
Sources zenu kwani huwa ni Kirinyaga road?


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

sources setu ni pulokas
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
enyands
#605 Posted : Saturday, April 23, 2016 3:14:52 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,225
Location: kenya
washiku wrote:
Othelo wrote:
Obi 1 Kanobi wrote:
enyands wrote:
Mtafiti wrote:
enyands wrote:
Everytime I remember issues about auditors takes me back to the days of mumias. These guys saw the rot happening because it was gradual but they loved misreporting.

Either the partners of the auditors were sorted with the by then MD or I don't know man.without mentioning names there is one notorious auditors loved by most crooked firms.

Internal Auditors are supposed to be the eye of the management and the external auditors are supposed to be eye of the shareholders and the public.these guys should be bound by legal oaths like the doctors hypocritical oaths after graduating .


Wuuuuuui! Influenza?

ICPAK has in the past withdrawn licences from some practising auditing firms due to glaring negligence and any detected collusion. Btw, they also de-register individual accountants and auditors. But it seems this happens for small firms.



How do you explain uchumi mwizi called Ciano who after stealing from uchumi was elected as a chairman of icpak and they didn't want to fire him after the story came up?


Dude, did you just make that upShame on you Shame on you

As mtafiti says, Ciano was not the Chairman, the current Chairman is Fernandes Barasa, before him was Benson Okundi

The dude made a mistake on overall Chair of ICPAK. However Jonathan Ciano was and (i think still is) the chair of the Institute of Certified Public Accountants of Kenya (ICPAK)’s disciplinary committee.



The Institute of Certified Public Accountants of Kenya (Icpak) said it had asked Mr Ciano to step aside over allegations raised while he was the chief executive of Uchumi Supermarkets to allow for investigations.

http://www.standardmedia...s-accountants-committee

http://www.nation.co.ke/.../-/yuhvscz/-/index.html






Ciano gone finally


Ericsson
#606 Posted : Saturday, April 23, 2016 7:58:01 AM
Rank: Elder


Joined: 12/4/2009
Posts: 2,844
Location: NAIROBI
Too late in making the announcement.The impact is inconsequential.He should be prosecuted and the stolen wealth sold and given to Uchumi to pay suppliers
streetwise
#607 Posted : Saturday, April 23, 2016 10:00:43 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,736
Location: Nairobi
These guy place as if they are kids. If you are going to act be quick and fast. What was the vs waiting for
Mtafiti
#608 Posted : Saturday, April 23, 2016 10:48:20 AM
Rank: Member


Joined: 5/22/2014
Posts: 249
Location: Ndeiya
Closing the stay when the horse has already bolted? Being proactive rather than reactive is what counts in these modern times.
Othelo
#609 Posted : Saturday, April 23, 2016 12:48:57 PM
Rank: User


Joined: 1/20/2014
Posts: 3,522
So this Ciano dude could not resign as a member and Chair of this ICPAK committee. Kweli Kenyans have serious integrity issues beyond help, Sad
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
tandich
#610 Posted : Saturday, April 23, 2016 1:59:42 PM
Rank: Member


Joined: 5/6/2008
Posts: 31
Interesting article on the NYT: Fantasy Math Is Helping Companies Spin Losses Into Profits http://nyti.ms/1SzfmXi
murchr
#611 Posted : Thursday, June 16, 2016 6:37:15 PM
Rank: Elder


Joined: 2/26/2012
Posts: 10,613
The Great
#612 Posted : Friday, June 17, 2016 10:11:16 AM
Rank: Member


Joined: 9/9/2015
Posts: 208
Ericsson wrote:
Too late in making the announcement.The impact is inconsequential.He should be prosecuted and the stolen wealth sold and given to Uchumi to pay suppliers


Shame on you
Feed the eagles, starve the turkeys. Uchumi is also a turkey
Do first things first, and second things not at all.
—Peter Drucker.
The Great
#613 Posted : Friday, June 17, 2016 10:13:26 AM
Rank: Member


Joined: 9/9/2015
Posts: 208
Na enyewe, the money should be returned to chase.
Do first things first, and second things not at all.
—Peter Drucker.
Ericsson
#614 Posted : Saturday, June 18, 2016 3:39:21 PM
Rank: Elder


Joined: 12/4/2009
Posts: 2,844
Location: NAIROBI
This will finally unlock the key KCB has been searching to get a good hold of the SME business.
As the days go by and with updates being provided most likely KCB will acquire majority stake in it.
KulaRaha
#615 Posted : Saturday, June 18, 2016 6:13:02 PM
Rank: Elder


Joined: 7/26/2007
Posts: 5,699
Less than 25% of Chase book is SME, most non-performing. Lets see where this ends up.
Business opportunities are like buses,there's always another one coming
Ebenyo
#616 Posted : Saturday, June 18, 2016 10:33:10 PM
Rank: Member


Joined: 4/4/2016
Posts: 664
Location: Kitale
KulaRaha wrote:
Less than 25% of Chase book is SME, most non-performing. Lets see where this ends up.

Then the LLP must be high.Kcb under Oigara will turnaround all those NPL to shore up interest income.
The difference between poverty and wealth is in mentality.
Obi 1 Kanobi
#617 Posted : Monday, June 20, 2016 11:26:36 AM
Rank: Elder


Joined: 7/23/2008
Posts: 2,708
Business Daily has to really step up. The headline and page 4 story on Chase Bank is an embarassment to business journalism.

Every CPA Part 1 student knows that you restate prior year numbers when you discover an error that affected the reported figures, do they really know anything they write about?

In contrast, Carol Musyoka's opinion on page 9 is well researched, written and absolutely spot on.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
KulaRaha
#618 Posted : Monday, June 20, 2016 11:32:52 AM
Rank: Elder


Joined: 7/26/2007
Posts: 5,699
Ebenyo wrote:
KulaRaha wrote:
Less than 25% of Chase book is SME, most non-performing. Lets see where this ends up.

Then the LLP must be high.Kcb under Oigara will turnaround all those NPL to shore up interest income.


How? If the bulk are unsecured what can KCB do?
Business opportunities are like buses,there's always another one coming
Ericsson
#619 Posted : Monday, June 20, 2016 4:26:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 2,844
Location: NAIROBI
@KulaRaha
Nowadays iko CRB.Try defaulting a loan then your name and details are forwarded there.
To clear your name is a hurdle you wouldn't want a repeat
Ebenyo
#620 Posted : Monday, June 20, 2016 6:01:35 PM
Rank: Member


Joined: 4/4/2016
Posts: 664
Location: Kitale
KulaRaha wrote:
Ebenyo wrote:
KulaRaha wrote:
Less than 25% of Chase book is SME, most non-performing. Lets see where this ends up.

Then the LLP must be high.Kcb under Oigara will turnaround all those NPL to shore up interest income.


How? If the bulk are unsecured what can KCB do?

Kcb will provide LLP.
The difference between poverty and wealth is in mentality.
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