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PwC Appointed Standard Media Group’s External Auditor Following KPMG’s Exit

Standard Media Group
Standard Media Group offices along Mombasa Road [PHOTO/ COURTESY]

The Standard Media Group has appointed PwC Kenya as its external auditor following the resignation of Anglo-Dutch multinational KPMG in February.

In a notice, Standard said that the appointment was effective March 1, 2021.

“Pursuant to Regulation G.05 (1) (b) of the Fifth Schedule of the Capital Markets (Securities) (Public Offers and Disclosures) Regulations, 2002 – amended 2019, the Board of Directors of The Standard Group PLC (“the Company”) wishes to notify the public of the appointment of PwC Kenya as the Company’s External Auditor, to fill a casual vacancy effective 1st March 2021,” said the company secretary Millicent Ng’etich.

KPMG resigned as the Standard Media Group’s external auditors on February 8, 2021, without reasons being revealed about the exit.

The Standard Group houses KTN Home, KTN News, Radio Maisha, The Standard Newspaper, The Nairobian (a weekly tabloid) and newly launched Vybez Radio, Spice FM, KTN Burudani and KTN Farmers.

In November 2020, The Standard Media Group sent home a number of employees in cost-cutting measures, in a bid to turn-around from loss-making.

Some of thot fired include Ellen Wanjiru, the KTN managing Editor, Standard Sub-editor Anthony Malesi and Kiswahili TV anchor Frank Otieno.

Others are Standard Newspaper reporters Moses Njagi and Protus Onyango, KTN News Editor Patrick Injendi and Former Kakamega Bureau Chief, John Atambo.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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