MPs Reviewing Valuation Of Assets Held By Defunct Local Authorities

  • 2 years ago
Members Of The Intergovernmental Relations Technical Committee (Igrtc) Are Reviewing A Draft Valuation Framework And Instruments Prepared By The National Technical Coordination Committee For Validation And Approval To Facilitate The Exercise Of Valuation Of Assets Relating To The Defunct 175 Local Authorities And The Devolved Functions Through A Forensic Audit That Will Disclose Millions Of Investments Previously Held By Authorities. In His Address During 2day Workshop In Kisumu, Ps Ministry Of Devolution Julius Korir Noted That The National And All County Governments Are Expected To Change From Current Cash Based Accounting To The Accrual Basis Of Accounting From June 2021. In This Regard For Counties To Comply With The Directive, County Governments Must Establish The Opening Balances For All Assets And Construct An Asset Register.