ACTING Auditor-General Rheah Kujinga, has blamed poor oversight by directors of State-owned entities for gross mismanagement within the public institutions.
In a report for the financial year ended December 31, 2022, on State-owned enterprises (SoEs) and parastatals released this week, Kujinga flagged weak oversight.
“I continue to appreciate efforts made by the government in the form of statutory/structural reforms, inter alia, enactment of the Public Entities Corporate Governance Act [Chapter 10:31] and establishment of the Corporate Governance Unit in the Office of the President and Cabinet, that have contributed to reduction in entities without boards,” she said.
“However, the boards need to pay attention to matters raised so as to improve transparency and accountability by strengthening their internal audit units.”
She added: “In this report are instances of weak oversight over internal controls as evidenced by unsupported expenditure, non- alignment of accounting policies and processes with reporting framework (accounting standards), non- acquittal of travel and…
