Political Parties Advised to Submit Budgets Promptly as New Finance and Procurement Manual is Launched
In a pivotal move aimed at promoting financial transparency and accountability, the Office of the Registrar of Political Parties hosted a high-level meeting on Friday, 13th September 2024, at Safari Park Hotel, Nairobi. The event brought together representatives from various political parties, including Emmanuel Odhiambo, Director of Membership of the National Liberal Party, to deliberate on financial reporting, auditing processes, and the launch of the new Political Parties Finance, Accounts, and Procurement Policy and Procedure Manual.
Director membership NLP Emmanuel odhiambo at Safari Park Hotel Nairobi for the Launch of the Finance, Accounts, and Procurement Policy and Procedure Manual.
The meeting, officiated by Auditor General CPA Nancy Gathungu, CBS, emphasized the importance of timely submission of financial budgets by political parties to the Political Parties Fund. Parties were reminded that meeting submission deadlines is crucial for ensuring efficient disbursement of funds, as well as for complying with audit requirements as stipulated under the Political Parties Act, 2011.
Director membership NLP Emmanuel Odhiambo With other representatives of political parties at the Launch of the Finance, Accounts, and Procurement Policy and Procedure Manual.
During the event, Auditor General Gathungu highlighted key aspects of the political parties’ financial management framework and responded to questions from participants regarding the audit process. She underscored the role of the Auditor-General’s office in safeguarding public funds allocated to political parties and stressed the need for prudent financial planning by party officials.
The launch of the Finance, Accounts, and Procurement Policy and Procedure Manual is set to provide clear guidelines to all political parties on how to effectively manage their finances and ensure compliance with the law. The manual will serve as a comprehensive roadmap, covering everything from budget preparation and financial reporting to procurement procedures, auditing processes, and internal controls.
In the wake of the manual’s launch, parties are expected to develop their financial plans and submit them well in advance to the Political Parties Fund, ensuring proper use of the funds they receive. The meeting marked a significant moment for the political landscape in Kenya, with parties urged to enhance their internal financial governance structures to avoid audit-related challenges in the future.
With a heightened focus on accountability, political parties will now be closely monitored to ensure they uphold the standards set forth in the new manual, reinforcing the country’s broader commitment to transparent and accountable use of public funds.
