Capacity building of political parties on the recently done custom-made financial template is essential for parties’ adoption in the current and subsequent financial reporting.
The ORPP, jointly with the Office of the Auditor General ,12th to 15th, August, held a training for 37 parties’ technical officers from 37 funded political parties. The encompassing equipped the party officials on a wide range of areas on prudent financial management. Some of the focus areas were legal framework on public finances audit procedures, and timelines; disclosure requirements aligned to international financial reporting standards.
Assistant Registrar, CPA Florence Birya appreciated ORPP staff and Auditor General’s official for incurring the effort while developing the reporting tool and designing the capacity building programme. “The continuous guide to political parties will have a lasting and positive impact not just on the statutory obligation of managing public funds, but also on gaining public trust and credibility”, CPA Florence noted.
The second phase of political parties training on a customized Financial Reporting Template, carried out in two batches: Funded Political Parties (18th and 19th August) and non-funded (20th and 21st August). Earlier, the same training was conducted targeting Political parties’ technical officers; Funded Political parties (12th-13th August) and Non Funded Political parties (14th-15th August).
The sessions with practical simulations covered various aspects contained in financial statements, the legal framework guiding public sector financial reporting, and contemporary issues in reporting and audits under the guidance of Office of the Auditor-General, Kenya and Public Sector Accounting Standards Board, who were part of the trainers.
The Registrar, Sophia Sitati, while at the start of the training, noted that the Template helps respond to unique financial situations of parties that will further aid their reporting. “This training is key in implementing the reporting template by equipping party officials, including Secretaries General (SGs), being Accounting Officers for political parties”, the Registrar said.
“The collaboration between ORPPKenya with AoG, PSASB, National Treasury and Attorney General through the process has borne a positive impact in the development of the reporting template and the roll out of the sensitization programme targeting responsible party officials “, said Assistant Registrar, Ali Abdullahi, during training of non-funded parties SGs.
“We are proud as AoG to be part of this process, which is part of our support to ORPP and political parties in their dual role in promoting good governance”, noted AoG Director of Audit, Philip Cheboiwo.
The PSASB CPA Stanley Igati, who has also been part of the process, revealed the Board’s plans to automate financial political parties’ reporting.
Party officials appreciated the ORPP and supporting entries for milestones, with their commitment to improve their subsequent financial reporting, accounting, and audit processes in line with Constitutional principles for financial management.
Upon the training, parties will be expected to transition to the parties’ specific reporting standard, sanctioned by the Public Accounts and Standards Board, which was part of the agencies that collaborated with ORPP in the development of the tool.