NAIROBI, Kenya, Oct 27-Heads of Internal Audit from all the 47 Counties and their respective Audit Committee Members are currently in Naivasha to explore strategies that will elevate governance while adding value to County Government through the internal audit functions.
During the conference that started on 23rd October (Monday), the Chairman of Public Sector Accounting Standards Board (PSASB) FCPA Pius Nduattih urged Internal Auditors to uphold the ongoing campaign by the Government on “Zero Fault Audit”.
The Zero Fault Audit initiative is designed to reinforce good governance, integrity, accountability, transparency, establishing global best practices within Government’s entities.
“Our devolution structure envisages independence and interdependence between National Government on one side and the County Governments on the other side,” Nduattih said.
The Zero Fault diligently tracks and monitors audit issues by County management for the best results. He urged the Heads of Internal Audit and their respective County Audit Committee Members to strive towards attainment of exemplary performance to promote excellence.
PSASB CEO Fredrick Riaga commended some of the County Governments for the work they have done in addressing issues of audit queries that for years have become the norm in the devolved system.
He at the same time noted that the transition from the cash to accrual accounting for all public sector entities is underway.
“Accrual accounting provides better planning, better financial management and better decision making in the public sector and provides a robust and accepted way of measuring the economy, efficiency and effectiveness of public policies,” Riaga added.
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