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Audit firms reap big from lenders

CFC Stanbic Bank was one of the five top lenders audited by PwC

Three large audit firms raked in Sh234.2 million in fees from 11 top banks for inspecting their books of account.

Bank filings for the period ended December 2016 show that all the top banks by profitability increased the audit fee, with the exception of Barclays Bank of Kenya (BBK), which has had constant fees for several years now.

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