Subject: Chase Bank
31 March 2015- Bank reports unaudited profit before tax of 906 million
30 June 2015- Bank reports unaudited profit before tax of 2.1 billion
30 September 2015- Bank reports unaudited profit before tax of 3.8 billion
31 March 2016- Bank reports audited net loss of 792 million for the year ended 31 December 2015
How does that happen? Did they raid the vaults?
Looks like the Opus dei rules are working
“unaudited” alafu “audited”
Sio opus dei. Its the auditors.
Do you work at delloite…
The Opus dei guy passed a cbk directive requiring a full system audit of banks systems to accompany audits meaning banks now have fewer places to hide.
I believe all banks in Kenya are audited by the top auditors who used to interrogate IT systems even before the directive came through.
Does this explain why BBK is exiting. Could they rather quit than being unearthed?
My birrions should be under my mattress now…
Njoro ako works and it it is working wonders.
Systems were being audited but on a high level. Starting this year, banks have to do full audits of their systems
There is a reason we have imperial as a case study. When it comes to system audits previously the system was not being interrogated 100% and some institutions (audit firms) found the services of system auditors as very expensive. A system auditor does alot beyond getting reports
Though I agree with you partly (@Cypher254 and @Grundy) , there can never be a 100% interrogation of a system.
so can somebody explaib how that is possible (+3b to -700m)
Loan provisions.
hehehe…
shit happens.
need to see all the other bank books
Nope. Kwa NGO. But I have a very strong finance background.
Get a database admin and like that you have 100% interrogation. System audit it’s not like normal audit. You dnt sample you query everything. That’s why they are damn expensive.
Ok. Thanks for this. Mambo ya IT sina habari at all. That’s why I have never posted nor commented anything in the technology section.
CORD ni NGO?