Sharp Daily
No Result
View All Result
Thursday, May 21, 2026
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Auditor-General raises red flag over budget cuts, cites oversight risks

Brian Murimi by Brian Murimi
May 21, 2024
in News
Reading Time: 2 mins read

Kenya’s Auditor-General has urged lawmakers to reinstate budget cuts, warning that reduced funding could impair the office’s ability to deliver timely and quality audit reports critical for effective oversight of public finances.

In an appeal to the National Assembly’s Budget and Appropriations Committee, Auditor-General Nancy Gathungu said the proposed allocations for the 2024/25 fiscal year and cuts to the current year’s budget risked undermining her office’s constitutional mandate.

“We agreed to prioritize the Mombasa Regional Office, but it is also imperative we start the preliminary planning for the Headquarters,” Gathungu told the committee chaired by Hon. Ndindi Nyoro. “I would request an allocation of KES 500 million for the OAG Headquarters project out of the estimated project cost of Kshs. 6 billion, to enable us commence the process.”

The Auditor-General’s submission comes amid intensifying scrutiny over the use of public resources, with the office playing a pivotal role in flagging irregularities and holding government entities accountable. A well-resourced audit function is seen as crucial for maintaining fiscal discipline and combating graft.

RELATEDPOSTS

No Content Available

According to Gathungu, the 2024 Budget Policy Statement had allocated her office KES 8.6 billion, including KES 8.28 billion for recurrent expenditure and KES 315 million for development. However, the proposed estimates have reduced the recurrent budget to KES 8.21 billion, affecting areas such as training, supplies, and operational expenses.

“With the delays, the costs are escalating, and we are incurring more in terms of leases,” Gathungu said, referring to the long-delayed plan to construct the office’s headquarters in Nairobi, initially estimated at KES 6 billion in 2014.

While welcoming an enhancement of KES 278 million for personnel emoluments, the Auditor-General noted that the allocation remained KES 84.5 million short of the estimated Kshs. 5.26 billion required, potentially impacting the planned recruitment of 150 audit associates.

Hon. Samuel Atandi questioned the need for additional personnel, suggesting investing more in technology to cut expenses. Gathungu responded that her office was leveraging technology but continued to outsource and recruit additional staff to meet the audit demands.

Previous Post

Kenyan manufacturers sound alarm over ‘disastrous’ tax measures in 2024 Finance Bill

Next Post

KNBS: Informal economy fuels Kenya’s employment growth, wage gap widens

Brian Murimi

Brian Murimi

Brian Murimi is a communications and advocacy professional with a focus on innovation, policy and continental development in Africa. A former journalist, he now works at the intersection of knowledge, strategy, and pan-African institution building.

Related Posts

KCB
Analysis

KCB posts record ksh 68.4 billion profit as regional growth pays off

May 21, 2026
News

EA cables NSE return: what the rescue acquisition means for Kenya’s stock market Investors

May 21, 2026
News

The importance of liquidity management in financial markets

May 21, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images
Analysis

Finance bill 2026: Key changes set to shape kenya’s economy

May 20, 2026
News

The relationship between interest rates and equity market performance

May 20, 2026
News

The impact of exchange rate volatility on investment decisions

May 19, 2026

LATEST STORIES

KCB

KCB posts record ksh 68.4 billion profit as regional growth pays off

May 21, 2026

EA cables NSE return: what the rescue acquisition means for Kenya’s stock market Investors

May 21, 2026

The importance of liquidity management in financial markets

May 21, 2026

Cable Experts to acquire 68% stake in East African Cables from TransCentury

May 20, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images

Finance bill 2026: Key changes set to shape kenya’s economy

May 20, 2026

The relationship between interest rates and equity market performance

May 20, 2026

The impact of exchange rate volatility on investment decisions

May 19, 2026

Equity Group Holdings move to extend its footprint across Southern Africa

May 19, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024