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{
    "id": 1238826,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1238826/?format=api",
    "text_counter": 130,
    "type": "speech",
    "speaker_name": "Nominated, UDA",
    "speaker_title": "Hon. Dorothy Muthoni",
    "speaker": null,
    "content": " Thank you, Hon. Deputy Speaker. I rise to second the Motion on the Financial Statements of NG-CDF. Having considered the audited financial statements, the Committee made the following general observations and recommendations that cut across the 26 constituencies. Number one is on bookkeeping preparation and accuracy of financial statements. The Committee observed that the bookkeeping and preparation of financial statements is a big challenge in almost all constituency offices. Further, the fund account managers faced challenges in submitting supporting documents to the auditors in time because the documents are usually in the custody of sub-county accountants, formerly district accountants. The sub- county accountants are required to sign the financial statements as per the templates issued by the Public Sector Accounting Standards Board (PSASB). However, they did not undertake this responsibility. More often than not, they did not co-operate with the fund accounting managers during audits to ensure timely submission of documents for audit review. Further, delays in preparation of complete financial statements are also attributed to the lack of adequate capacity at the NG-CDF offices. The sub-county treasurers, formerly district accountants, are in charge of maintaining books of accounts for all NG-CDF offices at the sub- county level and also maintaining accounting records and various supporting documents of the Fund at the constituencies. The Committee went further and recommended that the NG-CDF Board strengthens constituency offices by establishing treasury units that serve the constituency. Number two is on compliance to reporting standards and accuracy of financial statements. The Committee observed that fund account managers experience challenges in adapting to the International Public Sector Accounting Standards (IPSAS). Three is on reporting frameworks in the preparation of financial statements. The Committee also observed that the PSASB periodically uses the IPSAS to take into account emerging issues and conform to the best accounting practices. The Committee found out that some fund account managers experienced challenges in the application of those standards while preparing financial statements as evidenced by the audit matters. Finally, the Committee recommended that the NG-CDF Board should conduct continuous capacity building on financial reporting standards for constituency committees and the project management committees to improve the quality of reporting and enhance compliance. I second. Thank you."
}