Business News

Report on Crane bank leaks

The report addressed to Justine Bagyenda, The Executive Director Supervision

Bank of Uganda titled ‘’Report on the preliminary investigative and forensic review services at Crane Bank Uganda Ltd’’ has leaked.

PricewaterhouseCoopers Uganda Limited (“PwC”) has performed certain services to assist Bank of Uganda (“BoU”, “Client” or “you”) in providing forensic services into specific concerns raised in relation to Crane Bank Uganda Ltd (“CBL” or “the Bank”). Our services were performed and this Report was developed in accordance with our engagement letter dated 28 October 2016 (“LoE”) and are subject to the terms and conditions included herein.

Our services were performed in accordance with the scope and terms set out in the LoE. The procedures we performed did not constitute an examination or a review in accordance with generally accepted auditing standards or attestation standards. Accordingly, we provide no opinion, attestation or other form of assurance with respect to our work or the information upon which our work was based. We did not audit or otherwise verify the information supplied to us in connection with this engagement, from whatever source, except as may be specified in this Report.

Our work was limited to the specific procedures and analysis described herein and was based only on the information made available through 20 December 2016. Accordingly, changes in circumstances after this date could affect the findings outlined in this Report.

This Report and all PwC deliverables are intended solely for BoU for your internal use and benefit and are not intended to nor may they be relied upon by any other party (“Third Party”). Neither this deliverable nor its contents may be distributed to, discussed with, or otherwise disclosed to any Third Party without the prior written consent of PwC. PwC accepts no liability or responsibility to any Third Party who gains access to this deliverable.

We appreciate the opportunity to assist you with this matter.

Jane Bagyenda

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