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THE STANDARD On an October Monday morning four years ago, Richard Boro Ndungu, a partner at audit firm KPMG Kenya, was informed by the chief executive that an investigation was being launched over his conduct. The CEO, Josephat Mwaura, asked him to hand over his mobile phones and laptop so they could be forensically imaged to determine whether allegations that Mr Ndungu had engaged in misconduct were true. The exchange kicked off a chain of events that led to the partner’s ouster from the firm and a protracted legal suit that has revealed the cushy perks of senior executives in the ‘Big Four’ audit firms. ....
THE STANDARD By Macharia Kamau | February 2nd 2021 at 09:00:00 GMT +0300 It began with the acrimonious ouster of a former partner who sued Ernst & Young for Sh450 million before the immediate former Eastern Africa CEO also sought legal redress over his disputed retirement package. And now nearly 30 sacked workers are suing the global audit firm for wrongful dismissal. It is often said that a company’s greatest assets are its employees. But what happens when the same employees exit the firm in droves? Do they become the firm’s goodwill ambassador? And what if the exit was acrimonious? Should the former employees be treated as adversaries since they know the company too well? ....
Ernst & Young seeks arbitration in ex-CEO pay dispute Thursday January 21 2021 By SAM KIPLAGAT Summary Audit and advisory firm Ernst & Young wants a dispute over the retirement perks of its former chief executive officer referred to arbitration. In a reply to the case by Mr Gitahi Gachahi, the firm said the former CEO was not an employee but a partner and whose relationship with Ernst & Young was governed by a partnership agreement. Audit and advisory firm Ernst & Young wants a dispute over the retirement perks of its former chief executive officer referred to arbitration. In a reply to the case by Mr Gitahi Gachahi, the firm said the former CEO was not an employee but a partner and whose relationship with Ernst & Young was governed by a partnership agreement. ....