NO ESCAPE FROM AUDIT! Court Rejects Magoola’s Bid To Stop ICPAU Probe In Equity Bank Loan Fight
A Ugandan court has dismissed a businessman's attempt to block an audit of his loan accounts with Equity Bank. The court ruled that the appointment of an independent auditor by the Institute of Certified Public Accountants of Uganda was valid and did not require further consultation with the parties involved.
The Commercial Division of the High Court has dismissed an application by businessman Mathias Magoola and his companies, Dei Biopharma Ltd and DEI Industries International Ltd, in which they sought to have the Institute of Certified Public Accountants of Uganda (ICPAU) declared lacking in independence and integrity.
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