This report contains the findings from the annual financial audits of state enterprises and parastatals. Over the past five years, I have witnessed a marked improvement in the number of state enterprises and parastatals complying with the provisions of the Public Finance Management Act [Chapter 22:19] on submission of financial statements. As at May 31, 2019, One hundred and three (103) out of One hundred and seventy nine (179) state enterprises and parastatals had submitted their financial statements for audit. This is a 10% increase as compared to 2017 report which had ninety four (94) entities that had submitted. This is a commendable step towards increased accountability and transparency among parastatals. I am however still concerned by entities that continue to fall in arrears thereby remaining unaccountable. Notable cases include National Handcraft Centre and National Libraries and Documentation Centre which have not been submitting their financial statements for audit for the past ten (10) years)
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5 days ago
5 days ago