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{
    "id": 507790,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/507790/?format=api",
    "text_counter": 249,
    "type": "speech",
    "speaker_name": "Hon. Kang’ata",
    "speaker_title": "",
    "speaker": {
        "id": 1826,
        "legal_name": "Irungu Kang'ata",
        "slug": "irungu-kangata"
    },
    "content": "intervene in various areas of industry and commerce. The biggest companies and banks in China are Government-owned. Therefore, I would concede that, indeed, there are instances where the state may offer better goods notwithstanding owning those enterprises. Generally, the accepted notion is to reduce or condense several of these State corporations. That way, we will be able to run these State corporations in a more rational manner. Hon. Speaker, the other issue we need to consider as we debate this Report is the scope of the office of the Auditor General (AG). Of course, there has been a major debate in our PIC as to whether the Auditor General can look at audit reports and financial statements of companies where the Government does not own 50 plus one per cent shares. Hon. Speaker, I remember the National Bank came to our Committee and contested that issue, saying they should only be audited by a private firm. I belong to the school of thought that believes that there is no harm in auditing. We probably need to strengthen the law to ensure that the Kenya National Audit Office (KNAO) has the power to audit any investment of the Government. Even where the Kenya Government has, for instance two or three per cent of shares, KNAO should be given the power to audit that corporation. At present it is a very contentious issue. When that matter comes to our Committee--- I have seen several parastatals saying that they should not be subject to Government intervention in terms of audit. That is a very crucial issue."
}