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Special Report on Parastatals [S.C 06, 2006]
of Public Accounts
Presented to Parliament on May 31, 2006
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1.1 As part of its ongoing
exercise to monitor compliance with laid down procedures in the
submission of annual reports by various Parastatals, your Committee
resolved to report to Parliament its concern at the non-chalant
attitude displayed by some Parastatals in this regard. Such attitude
manifest itself in lack of financial accountability and out right
failure to comply with existing financial regulations which require
the submission of Annual Reports within a specific period as required
by section 44 of the Audit and Exchequer Act [Chapter 22:03].
Your Committee noted
with grave concern that a number of Parastatals had audited accounts
during the financial year ended December 31, 2004 and in violation
of the Audit and Exchequer Act, the respective Ministers had not
tabled the audit reports before Parliament. The Comptroller and
Auditor General has provided information that the accounts have
been audited although they were not presented in Parliament. It
is your Committee’s recommendation that the Ministers for
all the Parastatals whose annual reports have not been tabled provide
a detailed explanation before the house as to why they have not
tabled their Annual Reports.
Your Committee also noted
that some of the Parastatals did not have signed Accounts because
they did not have Boards in place. Some of them had been operating
for a long time without Boards e.g. Grain Marketing Board and Agricultural
Development Authority. Failure to have a Board Chairman to sign
the Accounts just shows how much the operations of Parastatals are
compromised by such absence. This also raises serious concerns on
the importance attached to corporate governance issues. It is therefore
your committee observation that for parliament to play its oversight
role effectively such issues have to be dealt with very decisively
once and for all.
1.2 This report
seeks to highlight the Parastatals that have failed to submit their
Annual Reports for tabling and to comply with laid down procedures.
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