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{
    "id": 141725,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/141725/?format=api",
    "text_counter": 277,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "the Kenya Commercial Bank (KCB) have been arraigned in the Anti-Corruption Court vide Case No.18 of 2009. 5. A forensic audit has been carried out by PriceWaterhouseCoopers (PWC) and the recommendations therein, are being currently implemented. 6. Oil companies’ product entitlements are being closely monitored through the implementation of Systems Applications Programme (SAP) - which is a new software - companies without allocations are not allowed to lift products in any of the KPC depots. 7. Collateral financial arrangements and processes have been renewed by KPC management, while external lawyers and PWC are to ensure checks and controls. The process has been documented as per the ISO certification requirements for continuous monitoring, and audited by SGS in June, 2009, and found to be in conformity with ISO 9001:2000. (b) Since the investigations into the Triton incident started, action has been taken against employees who may have been complicit in the matter as outlined below:- 1. The chairman of the Board of Directors was dropped. The Managing Director was suspended and subsequently, his services were terminated. Four directors were also dropped. Therefore, the Board has been restructured. 2. The then Managing Director and Company Secretary were relieved of their duties while three managers and three key operations staff have also had their services terminated. 3. The Operations Manager and two employees in the schedule section were suspended from duty and have since been arraigned in court by KACC. 4. Employees implicated in the PWC forensic audit were relieved of their duties. (c) As concerns possible loss to the KPC or the Government, I wish to assure Members that, to date, there has not been any monetary loss either to KPC or the Kenya Government. However, KPC and by extension, the Government is exposed to an extent of Ksh5.55 billion being claims lodged in court by various parties and a further Kshs122.6 million on expected legal expenses related to the case. Thank you."
}