The Financial Statement Audit, also known as the Financial Audit, is one of two parts of the Regularity Audit process. It determines whether the County Government’s financial information is presented in accordance with the applicable financial reporting and regulatory frameworks as mandated by the National Treasury in accordance to International Public Sector Accounting Standards. The audit of financial statements is necessary to verify that they fairly and accurately reflect the financial position of the institution and the reported use of funds. In its report, the Auditor General draws conclusions on the “truth and fairness” of the County government’s accounts and financial statements. The Auditor-general is expected to publish an audit report and submit it to the County Assembly and the Senate within six months of the end of the financial year. Typically, the Financial and Compliance Audits are submitted as a single report.
Upstream: Budget Estimates and Appropriation, Revised Budget Estimates and Appropriation, Annual Financial Statement
Downstream: Legislative Oversight