Special Funds Committee Investigates Financial Irregularities in KUCCPS
The National Assembly, Special Funds Account Committee, led by Hon. Fatuma Zainab (Migori) convened a crucial meeting with the management of the Kenya Universities and Colleges Central Placement Service (KUCCPS). The focus of the meeting was to address audit queries related to the organization’s car loan and mortgage scheme.
The KUCCPS management led by Dr. Agnes Wahome engaged in deliberations regarding discrepancies identified in the financial statements of the scheme. Notably, these discrepancies extended to the delayed submission of financial reports to the Auditor-General, violating statutory requirements outlined in section 47(1) of the Public Audit Act 2015.
One of the primary concerns raised during the meeting pertained to the submission of financial statements beyond the mandated deadline. The Public Audit Act stipulates a three-month window for presenting financial statements, a requirement that KUCCPS failed to adhere to in subsequent years.
In addition , Legislators sought clarification from the KUCCPS CEO regarding discrepancies between reported bank accounts for the scheme. While KUCCPS’s financial statements indicated two accounts under Housing Finance Group, the bank itself reported four active accounts. Notably, Treasury approval had only been granted for the opening of two accounts, raising questions about the legitimacy of the additional accounts.
The Committee reiterated its unwavering dedication to safeguarding public funds and ensuring accountability.
A comprehensive report detailing the findings and recommendations resulting from the inquiry is set to be tabled in the House.
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