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{
    "id": 462882,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/462882/?format=api",
    "text_counter": 335,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Chairlady, in principle, I agree with my good friend. He has done his homework quite well. However, the power of the Regulator to vet auditors is important. If you do not want to be audited, you just collude with some auditor who will give you a favourable report, depending on how much you pay him. With due respect to my professional colleague, while I support the proposal, I would like to request him to tell us what additional precautions he has put in place, so that we can make it more strict for any auditor who misreports the facts, or does not do the job as he is supposed to. The consequences should be prohibitive. I agree that there is a body that is in chargae of the auditing profession, namely the Institute of Certified Public Accountants of Kenya. I agree that everybody who has been approved and registered as an auditor should get an opportunity to audit in the insurance sector, but we need to put a proviso that anyone who misreports in the insurance, that should be treated as a crime. I do not know if my friend has anything on that. If not, I still support, but in future we will need to create more strict punishment for any auditor who mishandles the audit process."
}