{"id":7615,"date":"2025-03-14T13:22:58","date_gmt":"2025-03-14T13:22:58","guid":{"rendered":"https:\/\/orpp.or.ke\/?p=7615"},"modified":"2025-03-14T16:31:45","modified_gmt":"2025-03-14T16:31:45","slug":"orpp-leads-development-of-customized-financial-reporting-template-for-political-parties","status":"publish","type":"post","link":"https:\/\/orpp.or.ke\/es\/orpp-leads-development-of-customized-financial-reporting-template-for-political-parties\/","title":{"rendered":"ORPP leads development of customized Financial Reporting Template for Political Parties"},"content":{"rendered":"

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ORPP is spearheading a collaborative effort with the Public Sector Accounting Standards Board (PSASB), the Office of the Auditor-General (OAG) Kenya, and other key stakeholders to develop a tailored financial reporting template for political parties.<\/p>\n

In line with ORPP\u2019s facilitative regulatory approach, this initiative aims to enhance the financial reporting processes of political parties. The development of the template is informed by feedback from political parties, insights from past audits conducted by the Office of the Auditor-General, and ORPP\u2019s commitment to supporting prudent financial management within political organizations.<\/p>\n

As part of this process, the Office convened a consultative meeting with funded political parties on March 13, 2025, to gather input on the draft template. The initiative is being undertaken by a joint committee comprising representatives from ORPP, political parties, the Office of the Auditor-General, the Public Sector Accounting Standards Board, the Office of the Attorney General and Department of Justice, and the National Treasury and Economic Planning.<\/p>\n

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Mr. Ali Abdullahi, Assistant Registrar for Regulation and Compliance addressing the meeting on 13 March 2025 in Nairobi, Kenya<\/figcaption><\/figure>\n

During the session, Mr. Ali Abdullahi, Assistant Registrar for Regulation and Compliance, commended the committee for its progress in drafting the template and engaging relevant stakeholders.<\/p>\n

“I reiterate the need for transparency and accountability in managing all political party funds, including allocations from the Political Parties Fund (PPF). Accurate and timely financial reporting, as required by law, is essential,” Mr. Abdullahi emphasized.<\/p><\/blockquote>\n

He also acknowledged the notable improvements in financial reporting by political parties over the past year, attributing this progress to ORPPKenya\u2019s interventions such as continuous capacity-building and the issuance of practical financial reporting guidelines, as outlined in the Political Parties Accounts, Finance, and Procurement Policy and Procedure Manual developed by ORPP.<\/p>\n