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16 January 2009

Kenya Government Gazette dated 2009-01-16 number 7

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SPECIAL ISSUE




             THE KENYA GAZETTE
                                       Published by Authority of the Republic of Kenya
                                                       (Registered as a Newspaperat the G.P.O.)


Vol. CXI—No.7                                      NAIROBI, 16th January, 2009                                                      Price Sh. 50

GAZETTE NOTICE No. 512

                                                         KENYA REVENUE AUTHORITY

 STATEMENT OF MANAGEMENT RESPONSIBILITIES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2007

The Kenya Revenue Authority Act requires Managementto prepare financial statements for each financial year which give a true and fair view of the
state of affairs of the Authority and its operating results for that year. It also requires Management to ensure that the Authority keeps proper
accounting records which disclose, with reasonable accuracy, the financial position of the Authority. Management is also responsible for
safeguarding the assets of the Authority and maintenance of adequate system of internal financial control.

Managementaccepts the responsibility for the annual financial statements, which have been prepared using appropriate accounting policies supported
by reasonable and prudent judgements and estimates, in accordance with International Financial Reporting Standards and the requirements of the
Kenya Revenue Authority Act. Managementis of the opinion that the financial statements give a true and fair view of the state of the financial
affairs of the Authority andofits operating results.

Nothing has cometo the attention of Managementto indicate that the Authority will not remain a going concern for at least the next twelve months
from the date ofthis statement.

Dated the 28th August, 2008.

                                                                                                                                    M. G. WAWERU,
                                                                                                                               Commissioner-General.



      REPORT OF THE CONTROLLER AND AUDITOR-GENERAL ON THE FINANCIAL STATEMENTS OF THE KENYA REVENUE
                                AUTHORITY FOR THE YEAR ENDED 30TH JUNE,2006

I have audited the financial statements of the Kenya Revenue Authority which comprise the balance sheetas at 30th June, 2007 and the income
statement, statement of changes in equity and cash flow statement for the year then ended, together with the summary of significant accounting
policies and other explanatory notes in accordance with the provisions of Section 8 of the Public Audit Act, 2003, and Section 18 of the Kenya
Revenue Authority Act, Cap. 469. I have obtained all the information and explanations which, to the best of my knowledge andbelief, were
necessary for the purpose of the audit. The financial statements are in agreement with the books of account.

Respective Responsibilities of the Managementfor the Financial Statements

The Managementof the Kenya Revenue Authority is responsible for the preparation and fair presentation of the financial statements in accordance
with the International Financial Reporting standards and the provisions of the Kenya Revenue Authority Act. The responsibility includes: designing,
implementing and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances.

Responsibility of the Controller and Auditor-General

Myresponsibility is to express an independent opinion on the financial statements based on the audit. The audit was conducted in accordance with
the International Standards on Auditing. Those standards require compliance with ethical requirements and that the audit be planned and performed
with a view to obtaining reasonable assurancethat the financial statements are free from material misstatement.

An audit involves the performing procedures to obtain audit evidence about amounts and disclosures in the financial statements. The procedures
selected depend on the auditor’s judgment, including the assessmentof the risks of material misstatement of the financial statements, whether due to
fraud or error. In making those risks assessments, the auditor considers internal controls relevant to the Authority’s preparation and fair presentation


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