Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1097431,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1097431/?format=api",
    "text_counter": 265,
    "type": "speech",
    "speaker_name": "Kipipiri, JP",
    "speaker_title": "Hon. Amos Kimunya",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Thank you, Hon. Speaker. I rise to support the Auditor-Generals’ Report of PAC which has very well been executed by the Chair and my predecessor in seconding. He has explained everything that needed to be explained. I would almost take the opportunity to congratulate the Auditors, M/s. Ronalds LLP for having made it. I have no doubt the House will do what it has to in terms of formalising the appointment because all the screening has been done and there is nothing untoward that has been brought forward. There is really not much to be said because we are playing our role on behalf of the shareholders of Kenya this afternoon. In ordinary companies, at every annual general meeting one of the very critical agenda items is to appoint an auditor who would then look at what the directors have been doing in the course of the year and report the same to the shareholders to assure them that their money has been applied in furtherance to the objectives of the company. That all stems from the old practice of agency theory where the shareholders will have certain expectations of what they want to do. They then appoint their agents who become the directors and who then hire managers. The two are usually at variance in terms of their expectations. The shareholders may want one thing done, the directors one and the managers another. You now need the auditor to come, look and assure the principals that their agents behaved in exactly the same way as they would have wished and provided them with value for money. In our situation, the principals are the people of Kenya. The people of Kenya have elected an Executive headed by the President, given them certain mandates and monies and asked them to go ahead and execute and account back to them. Since Kenyans cannot receive those audit reports or be called to an annual general meeting to receive the reports of the auditors, they have appointed the National Assembly which represents them in that AGM on a continuous basis. We represent all those people and receive their reports in terms of what the Executive has done. Hon. Members, you will recall that we are actually the ones who appoint the Auditor- General. However, the Auditor-General himself needs to be audited and hence we, on behalf of the people are being called upon again this afternoon to also get an auditor to audit our auditor whom we appointed to audit the Executive and all the other independent institutions. Hon Aden Duale has enumerated the issues that we need covered. I do not want to go through that. Most importantly, has the money that we have given to the Office of the Auditor-General been applied to the right purposes? That is the standard. The independent auditor will also be expected to test and verify that the Auditor-General has applied auditing standards and performed work in accordance with the highest possible standards in carrying out the audits of the Executive. So, it is a two-way thing: value for money and quality control. I expect that when we receive the reports for 2018/2019, as well as for 2019/2020 Financial Years, we will make them our responsibility. I know the Chairman of the Public Accounts Committee has stepped out, but I know there are still some Members here. I would like to emphasise that when M/s Ronalds LLP gives their report and appears before PAC - which I hope they will, so as to present that report to you The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}