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Members of Parliament want to open an investigation into how auditing firm Ernst & Young (EY) handled the financial statements of troubled Spire Bank before the lender was bought by the giant teachers' savings society, Mwalimu National Sacco.
The National Assembly Departmental Committee on Finance and National Planning has also questioned the recent deal which saw Equity Bank buy the troubled lender "for a song".
The MPs want EY - one of the 'Big Four' auditing giants in the country - investigated to establish whether it gave a true picture of the financial health of Spire Bank ahead of its purchase by Mwalimu Sacco over six years ago.
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