Parliament has launched an investigation into the activities of KUCCPS (Kenya Universities and Colleges Central Placement Service) to get to the bottom of suspicious car loan and mortgage scheme.
The National Assembly’s Special Funds Account Committee led by Fatuma Zainab (Migori) convened a crucial meeting with the management of the agency over audit queries.
KUCCPS management led by Dr Agnes Wahome engaged in deliberations regarding discrepancies identified in the financial statements of the two schemes.
Notably, these discrepancies extended to the delayed submission of financial reports to the Auditor-General, violating statutory requirements outlined in section 47(1) of the Public Audit Act 2015.
One of the primary concerns raised during the meeting related to the submission of financial statements beyond the mandated deadline.
The Public Audit Act stipulates a three-month window for presenting financial statements, a requirement that KUCCPS failed to adhere to in subsequent years.
Parliament is seeking clarification from the KUCCPS CEO regarding the discrepancies between reported bank accounts for the scheme. While KUCCPS’s financial statements indicate two accounts under Housing Finance Group, the bank itself reports four active accounts.
Treasury approval had only been granted for opening of two accounts, raising questions on the legitimacy of the additional accounts.
The committee reiterated its unwavering dedication to safeguarding public funds and ensuring accountability.
A comprehensive report detailing the findings and recommendations resulting from the inquiry is set to be tabled in the House.
By our reporter
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