Institute of Certified Public Accountants of Kenya blames graft on lack of internal audits

Institute of Certified Public Accounts if Kenya (ICPAK) Chairman Fernades Barasa (right) is franked by ICPAK CEO Patrick Ngumi during a meeting at Flamingo Beach Resort and SPA in Mombasa County on Wednesday 14th October 2015. They urged everyone to help in fighting corruption. Photo/Kelvin Karani

Only one county in Kenya has an internal audit committee, painting a grim picture of the dismal financial oversight culture that facilitates corruption and wasteful spending in the country's administrative units.

According to a new report launched by the Institute of Certified Public Accountants of Kenya (ICPAK) and the National Treasury, only Nairobi County has an audit committee, despite the existence of a ten-year government circular directing the formulation of audit committees in all public institutions.