New Bill proposes county audit offices to protect Sacco members’ savings

Listen to articleUnder the proposed law, the government would be required to appoint directors of audit in every county to independently review financial reports prepared by external auditors before they are presented to members during general meetings.Parliament has proposed the establishment of county-level offices of commissioners and directors of audit to strengthen oversight of Saccos and cooperatives and protect members from losing their savings through mismanagement, fraud and falsification of financial records.