The Auditor-General has released a qualified opinion audit report for Nairobi County Revenue Funds for the 2023/2024 financial year, marking a historic first for the county. The qualified opinion signals significant progress in public financial management practices within the county.
The report, which covers the financial year ending June 30, 2024, highlights key issues in financial management, governance, and internal controls within the Nairobi County Revenue Fund. However, it acknowledges that despite certain material misstatements, the financial statements were largely accurate.
“Aside from material misstatements, the financial statements were fairly presented,” the Auditor-General stated.
The Auditor-General commended the county for substantial improvements in public finance management. The report, divided into three key sections, evaluates financial statements, the lawful and effective use of public resources, and the adequacy of internal controls.
Additionally, the findings address critical governance challenges, including compliance with financial reporting frameworks and legal requirements. While the qualified opinion reflects some discrepancies, the overall assessment affirms notable progress in Nairobi County’s financial practices.
Stakeholders have been urged to address the highlighted gaps to further strengthen financial accountability and governance in Nairobi City. The report serves as both an acknowledgment of progress and a call to action for continuous improvement in the county’s financial management systems.
