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Originally published by Nation Businessbusiness
March 21, 2026
11h ago
Big Four, big shame: World Bank bans put audit industry on trial
Experts say more is expected of ICPAK after the bans...
✨ Key Highlights
Two of the "Big Four" accounting firms, Ernst & Young (EY) Kenya and PwC's arms in Kenya, Rwanda, and Mauritius, have confessed to fraudulent and corrupt practices, leading to World Bank bans.
- EY Kenya was banned for 30 months and PwC for 21 months by the World Bank.
- The firms admitted to fraudulent and collusive practices to secure World Bank-funded projects in Somalia (EY) and Ethiopia (PwC).
- The confessions and subsequent bans are expected to trigger internal disciplinary actions and potential exits from the implicated firms' operations in the affected countries.
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