East African Portland Cement brings in the auditors

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Kenya: East African Portland Cement (EAPC) has hired Ernst & Young to conduct a forensic audit of its business following reports that the company is technically bankrupt and may have lost around US$7.1m worth of stock from its warehouses since 2014. Cement stock valued at US$4m went missing in Kenya and US$3.1m disappeared in Uganda, according to the Business Daily newspaper. Ernst & Young started work for the state-owned cement producer in early November 2016.

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URL: https://globalcement.com/news/item/5492-east-african-portland-cement-brings-in-the-auditors

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