It states that financial statements reflect tax revenues amounting to Sh4.7 billion while the tax revenue amount verified through ministry records is Sh5 billion. The Energy ministry excluded tax revenues amounting to Sh327.6 million in its 2014-15 financial year accounts, a report has shown. Ouko says available records indicate the ministry had an uncommitted balance of Sh589.8 billion while a confirmation receipt from Nock indicates a balance of 516.7 billion. "Consequently, it was not possible to confirm the completeness and accuracy of the tax revenue reports of Sh4.7 billion in the financial statements," it states. "The classification and presentation of the expenditure is not in conformance with international Public Sector Accounting Standards," reads the report.

Source: The Star June 09, 2016 02:58 UTC