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COUNTY GOVERNMENT, ACCOUNTING STANDARDS BOARD TO COOPERATE ON FINANCE MANAGEMENT

COUNTY GOVERNMENT, ACCOUNTING STANDARDS BOARD TO COOPERATE ON FINANCE MANAGEMENT

Nairobi, 4th October 2022

The County Government of Turkana will work closely with the Kenya Public Sector Accounting Standards Board (PSASB) in a bid to promote the adoption of sound financial practices within its systems, Governor Jeremiah Lomorukai has said.

Speaking in Nairobi today after meeting the CEO of the Public Sector Accounting Standards Board Mr. Fredrick Riaga, Governor Lomorukai divulged that his office will task the County Attorney to draw a formal agreement to formalize the partnership in the coming weeks.

Governor Lomorukai explained that he was keen on actualizing his manifesto concerning the creation of robust accounting and auditing services that are fully compliant with the provisions of the Public Finance Management Act and the entire regime of regulatory framework on prudent governance of financial resources.

The County boss added that the proposed partnership was a deliberate strategy by his administration to instill managerial discipline that would promote transparency, and accountability and safeguard clients of the county from corruption.

On his part, Fredrick Riaga said that the entity was a state resource with a legal mandate to support the public sector including the counties in achieving and sustaining the set standards of financial management.

Mr. Riaga assured the Governor of the entity’s extensive experience in providing capacity-building services to players in the finance sector and the willingness of the board to extend such services to his administration.

The meeting comes at a time when the government financial calendar is entering the second quarter of the 2022-2023 financial year where the bulk of the pending bills and budgeted programs are expected to be processed as a means of sustaining service delivery to the residents of the County.