Agency ineffective in auditing parastatals

The agency in charge of inspecting operations of State corporations has come under sharp focus following claims of massive graft at the Youth Enterprise Development Fund.

For such a colossal amount of money to be looted from the corporation without the knowledge of the agency mandated to inspect books of accounts of parastatals is quite chilling. What does this say about the state of affairs in other parastatals?

Parastatals are tasked with delivering essential services to the public. It is through statutory bodies that the Government implements its policies.To execute their mandate, the State allocates a lot of resources to State corporations.

Efficient utilisation of resources allocated to parastatals is of utmost importance. This is the reason why Inspectorate of State Corporations was established.

Rise in malpractices committed by parastatals has cast a shadow on the effectiveness of the agency.

Time is running out for the agency to stop pilferage in State corporations. A toothless oversight body is a great disservice to the country.

Kenyans want value for money as far as resources invested in parastatals is concerned.