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{
    "id": 1414232,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1414232/?format=api",
    "text_counter": 272,
    "type": "speech",
    "speaker_name": "Mwingi Central, WDM",
    "speaker_title": "Hon. Gideon Mulyungi",
    "speaker": null,
    "content": "2023/2024 within a 6 per cent as administrative allocation to the Board. This will strengthen the maintenance of books of accounts and preparation of financial statements. Lastly, on the accuracy of financial statements, the Committee observed that Fund Account Managers experienced challenges in adopting to the International Public Sector Accounting Standards’ (IPSAS) reporting framework in preparation of financial statements. The standards were introduced in the Financial Year 2013/2014 in the public sector and failure to comply with them in subsequent years occasioned qualification or financial statements. The Committee also established that public sector accounting standards board reviews the IPSAS Standards periodically to take into account emerging issues and conform to best accounting practices. Some Fund Account Managers experienced challenges in the application of these standards while preparing financial statements as envisaged in the audit queries. The Committee recommends that the Fund Account Managers comply with the IPSAS framework in preparation of financial statements. The Board in consultation with the IPSAS Board conducts continuous capacity building on financial reporting standards for constituencies’ staff; and the Board in consultation with the Public Procurement Regulatory Authority (PPRA) should conduct continuous capacity building to all Fund Account Managers on procurement laws and regulations within three months of the Tabling of this report. As I conclude, allow me to mention that while examining these reports, the Committee did not find anything adverse or alarming. The observations and recommendations of the Committee show that there is nothing to worry about in the implementation of the NG-CDF projects. I therefore sincerely congratulate the respective Members of Parliament in these constituencies for the good work they are doing in their constituencies and thank both current and former Fund Account Managers for their cooperation when they were called upon to appear to give evidence to the Committee on the audited accounts. I wish to acknowledge the Chief Executive Officer (CEO) of the Board for the technical support they gave the Committee during the examination and guidance provided to the constituencies on the policy matters, which have streamlined the reporting of the constituencies’ accounts. I take this opportunity to appreciate my fellow Committee members for their commitment to the work before us and for sitting for long hours to examine the reports before the Committee to come up with this Report. I thank the Office of the Speaker and the Clerk for the support given to the Committee. I also extend the Committee’s appreciation to the Office of the Auditor-General, the National Treasury and the Committee Secretariat for the good work they put in in facilitating the Committee and providing the technical support that enabled the Committee to finalise the Report. Hon. Temporary Speaker, I beg to move. Thank you."
}