Narrative Reporting2019-04-09T10:04:08+00:00

Narrative Reporting

  • Where requested by the board or executive management, the audit committee should review the content of the annual report and accounts and advise the board or executive management on whether, taken as a whole, it is fair, balanced and understandable and provides the information necessary for stakeholders to assess the entity’s performance, business model and strategy.
  • This report will inform the board’s statement on these matters required under Code of Governance for Public and State Officers and the Code of Governance for State Corporations (Mwongozo). In order for the board to make that statement, any review undertaken by the committee would need to assess whether the narrative in the front of the report was consistent with the accounting information in the back, so as to ensure that there were no surprises hidden in the accounts.

Role of Audit Committees