Tag: Breach of IFRS 9 by Saccos over KUSCCO Fraud losses

Trade and Financial Services Round-Up: Issue No. 8 of 2025

Kenya Saccos break audit rules over KUSCCO fraud losses Savings and Credit Cooperative Societies (Saccos) in Kenya are violating a global accounting rule that requires them to fully book losses linked to the multi-billion-shilling fraud at the Kenya Union of Savings & Credit Cooperatives (KUSCCO) from day one. Several top Saccos have only set aside […]...