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{
    "id": 1503186,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1503186/?format=api",
    "text_counter": 426,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr) Ojiambo Oundo",
    "speaker": null,
    "content": "I am not an accountant, but I was once a reporting officer or an officer of a company. At the end of every financial year, companies must prepare books of accounts. While in the private sector you will see a balance sheet with assets and liabilities clearly enumerated together with the loss and income statement, that has not been there in the Government. This is to the extent that pending bills could have been cured through an accrual system. As the Chairperson said, the Government does not know its assets in entirety with the current system. No single accounting document can tell you all the assets of the Government. That is why it is important that we shift to an accrual basis, so that we are able to tell the assets and liabilities of the Government, for purposes of assessing the net worth of the Government."
}