Tackling the Problem of Corporate Fraud in the Kenyan Corporations Through the Lens of Corporate Governance
Abstract
The thesis examines the issue of corporate fraud in the Kenyan public and private firms. The
thesis notes that the country has been grappling with a series of corporate frauds that has led to
many firms to fail such as Uchumi Limited, Chase Bank Limited, Nakumatt Limited. The rising
cases of corporate fraud have been largely attributed to weak legal, regulatory and policy
framework. Dishonest company directors, employees and other unscrupulous businessmen have
been exploiting the gaps in the law to perpetrate illegal acts leading to the loss of investor capital.
Further, the study notes that rising cases of corporate fraud in Kenya is attributed to weak laws
that govern the issue hence there is a need for reform. It notes that there have been regulatory
challenges in terms of enforcing good corporate governance practices in corporations due to
various institutional challenges. Also, there is a challenge in enforcing the code of corporate
governed hence there is a need to ensure greater compliance and also reporting a mechanism by
corporations.
Lastly, the research explores the lessons that Kenya can borrow from the United Kingdom and
also South Africa on the ways in which the laws can be improved. The study noted that the two
countries offer valuable lessons that Kenya can use to improve its law, regulatory enforcement
and also policy approaches. The recommendations offered by the study are important in
addressing the problem of corporate fraud which shall help to minimize the rising cases of fraud.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
- School of Law [307]
The following license files are associated with this item:
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivs 3.0 United States
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