Financial Accountability: The Institute of Certified Public Accountants of Kenya (ICPAK) has released the findings of its Public Audit Review Report for Ministries, Departments and Agencies (MDAs) covering the financial years 2020/21 to 2022/23, highlighting progress and persistent challenges in Kenya’s public financial management systems.
This review was conducted in line with the Institute’s mandate under the Accountants Act, CAP 531, and guided by Article 229 of the Constitution and the Public Audit Act, 2015, examined trends in audit outcomes, the professional status of financial statement preparers/signatories and the nature of audit opinions issued by the Office of the Auditor-General (OAG). 4. From the report, it is evident that while there have been notable improvements in the number of unmodified audit opinions, however a majority of public institutions continue to face recurrent audit queries, including unsupported expenditures, weak internal controls, and unresolved prior-year issues. In addition, several financial statement signatories were found not to be in good standing with the Institute, raising concerns over compliance with the Accountants Act and adherence to professional ethics. 5. The analysis also observed an increase in pending bills, from Ksh 72.3 billion in FY 2020/21 to Ksh 130.8 billion in FY 2022/23, signalling fiscal strain and inefficiencies in budget execution. financial-accountability. Click here for full statement ICPAK PRESS STATEMENT ON MDAs AUDIT REPORT ANALYSIS 14.10.25 -tracked
Click here to access the report https://www.icpak.com/review-of-auditor-general-reports-for-ministries-departments-and-agencies-fy-2020-21-2022-23ublic-audit-review-ministries-departments-and-agencies-2020-21-2022-23/
