NAIROBI, Kenya, Jan 8 – The Auditor-General has issued a qualified opinion audit report for Nairobi County Revenue Funds for the 2023/2024 financial year, marking a historic milestone for the county.
This is the first time Nairobi County has received a qualified opinion, signaling significant progress in its public financial management practices.
The report, covering the financial year ending June 30, 2024, highlights key areas of improvement while identifying persistent challenges in financial management, governance, and internal controls.
Despite certain material misstatements, the Auditor-General noted that the financial statements were largely accurate.
“Aside from material misstatements, the financial statements were fairly presented,” the report stated, acknowledging the county’s strides in improving its financial systems.
The Auditor-General praised Nairobi County for its efforts in enhancing public finance management, particularly in areas such as the preparation of financial statements, the lawful and effective use of public resources, and the strengthening of internal controls.
However, the report also flagged critical governance challenges, including compliance with financial reporting frameworks and adherence to legal requirements.
While the qualified opinion reflects some discrepancies, it underscores the county’s progress toward greater financial accountability.
Stakeholders have been encouraged to address the gaps identified in the report to further improve the county’s governance and financial management practices.
Source: capitalfm
