TRADITIONAL AUDIT APPROACH IS A SCREW-UP!

There is need to depart from the traditional audit philosophy that is reactive, detective and over relies on end year reviews and embrace tailored control concept that will enhance real time operational efficiency, proactive and one that will focus on prevention, detection and correction of errors and irregularities, embraces information technology and produces accurate, complete and actionable audit reports.

The system boasts of advanced medicine yet the populace is on their sick beds! Case of traditional audit therapy to changing auditee needs and technology! It is not surprising that still the so called "Big Four" still have these defects in their approach! especially when dealing with government entities.

KENYAN POSTMORTEM AUDITS!

The Public Audit Act 2007 of Kenya gives the Controller of Budget and the Auditor-General the mandate to audit all public entities and provide a professional opinion to Parliament at least once every financial calendar year on matters arising from their audit work. Lately, mainstream media has been awash with accounts of financial impropriety in a number of public entities running into millions of shillings as highlighted by the Auditor-General.

A number of inquests emanating from audit reports are ongoing in Parliament. However, the frequency by which embezzlement of public resources get reported across the governance structures leaves one wondering whether compliance audit approach is effective. To start with, revealed acts of fraud have over 50 percent chance of recurring thus revealing weaknesses and ineffectiveness of the postmortem audit approach in examining compliance to financial regulations and procedures in conduct of public affairs.

Incidentally, as a matter of procedure, much as financial audit is designed to uncover faults in the public expenditure trail, audit reports generated are expected to highlight weak points that abet compliance and advice on probable remedies. That being the case, it is high time relevant authorities reflects and evaluate on today’s audit trail, systems and procedures

THE SOLUTION;

Following the establishment of devolved units in 2013, financial audit became more complex, time consuming and taxing. For this reason, and without pre-emptying the importance of compliance audit to financial management, the country had better consider employing financial risk management framework instead. This approach, assesses risk exposures beforehand capture them for control and put in place necessary administrative control measures to avert shortfalls.

Again, the approach deliberately explores appropriateness of applied controls and systems effectiveness. Actually, risk management involves gaps identification, evaluation and prioritization followed by coordinated and economical resource application to monitor and control risk occurrence and or minimize its impact in case of an occurrence.

Under this approach, strong internal control systems are advanced in managing exposure to operational risks through prevention or and early detection and correction of errors and irregularities. Where established, control systems are critical in addressing loss of public resources, malpractices and corruption in public realm.

Additionally, they lay a foundation of discipline and structures made functional in conduct of public affairs thus safeguarding integrity, ethical behavior, competence, participation and responsiveness. Still, it is easier to monitor quality of formulated controls through regular performance tests and design interrogation.

BOTTOM-LINE;

Basically, automated audit trail unlike paper based one will reduce use of hard copy documents, records duplication and avoidance to laid down procedures and rather make financial operations more effective, financial reporting more reliable and complete thus guaranteeing compliance to established laws, rules, regulations and policies.

Only then, will governance objectives and processes be adhered to.

Why you should invest in Naivasha

When Uganda announced that it had dropped plans for an SGR (Standard Gauge Railway) and that they will rehabilitate the old narrow Metre Gauge Railway (MGR), it became evident that Kenya had to scale down its SGR ambitions, at least in the near term!

Kenya plans to complete its SGR from Mombasa to Naivasha by mid-2019, after which the focus should shift to maximizing value for the SGR.

How to increase and maintain Mombasa Port attractiveness to Uganda, Congo, South Sudan, Rwanda, Burundi etc, using a combination of SGR, MGR and road haulage, is now the immediate guiding questions for Kenya.

Developing a major ICD at Suswa (Naivasha) and linking it with the MGR (say at Longonot), will create an ideal and effective convergence of the three modes of transport at Naivasha.

If indeed Uganda will upgrade its MGR network, Kenya will likewise modernise its MGR section from Naivasha to Malaba. This will increase service assurance and safety. A redesigned road access from the Naivasha ICD to the main highway will also be necessary.

The final product will be a Naivasha logistics hub of choice handling transit imports and exports, and also exports/imports for western parts of Kenya, Rwanda, Burundi, Congo, Uganda, South Sudan etc.

Travel distances by importers/exporters will be shortened, and specifically the Nairobi ICD clutter and city congestion will be avoided.

Next is Kisumu for the waterway connection with Tanzania and Uganda!

My Opinion: Go for it. Invest huge and capitalize on current low property prices in Naivasha. It’s the next big thing

Do you need a Coach or a Mentor?

Many people do not understand the difference between mentorship and coaching. While both are quite important, mentorship goes deep and the relationship lasts long while coaching is a formal relationship, which takes place for a specified period of time. Think of mentorship as a long-lasting friendship in which you get to gain a lot of advice, help, and guidance from your mentor. 
Coaching, on the other hand, is almost like attending classes to learn about a very specific subject and the relationship you have with your coach is based on what you gain from the coach and how long it takes. While these are the general rules that guide the relationship in mentorship and coaching, there are other more particular differences. Let us discuss what each entails.

WHAT IS MENTORSHIP?

A relationship between a mentor and a mentee is organic. This is to mean that the relationship is cultivated over a long time and the mentee learns a lot from the mentor. It starts from two people knowing each other closely having a common ground. A mentor will guide you in many aspects of your life not just in your career as the relationship is often informal. Most of the time, this is a person you have similar interests with and through their experiences, you can learn a lot.

A mentor is like a role model: A mentor is someone you look up to for one reason or another. This is someone you can have open conversations with; on different aspects of your life. This means that it cannot be a random person whom you just met and know little or nothing about. It is often a person who mirrors what you might be interested in and this person holds your hand as you grow along.

A mentor offers guidance and support: A mentor can work with you to find solutions to your problems. They may not have all the answers to your questions but are willing to work with you to find solutions to those problems that they may not understand. However, most of the time, your mentor will often have more experience in a certain field than you do and can, therefore, offer sound advice based on personal experience or from observation. Your mentor can also help you gain access to opportunities that are otherwise out of your reach.

A mentor offers advice on career and personal growth: A mentorship relationship goes beyond advice on how you can grow your career. Since your mentor has a good understanding of you, he or she is likely to offer sound advice on matters that go beyond your career, and this is based on your strengths and weaknesses. They are resourceful and are interested in helping you grow holistically. A mentor will also prepare you for future roles, not just in achieving immediate goals.

COACHING

Coaching is slightly different from mentorship and the relationship between the person being coached and the coach is inorganic and short-lived. It is mainly transactional and this makes it mechanical. A coach is someone who has experience and expertise in a particular field that you would like to gain knowledge in. Think of it as the relationship between you and your teacher. A coach offers advice only, unlike a mentor who may offer more value through their experiences. So, what are some of the defining characteristics of coaching?

The relationship is formal: The relationship between the person being coached and the coach is bound by social norms and rules of engagement. For example, while you can have an evening drink with your mentor to discuss arising issues in your life or career, this would be considered inappropriate when the person is a coach. You will often have to make an appointment to meet a coach at specific times and in specific areas; usually in their offices.

Coaching is based on particular issues of development: While mentorship may focus on many aspects of your life from career to finances, coaching is specific and focuses on a narrow area. Think of it as having swimming lessons, where your coach strictly focuses on your swimming skills and nothing else.

The relationship is short-lived: In the same line, coaching lasts for a short period of time that is very specific, after which the relationship is terminated. During the life of this relationship, you will also pay for the services of the coach. The relationship has a clear focus on helping you grow in certain areas and both you and the coach have to put in a lot of work. Moreover, the relationship is aimed at helping you achieve the set goals within a short time.

Coaching is structured and rigid: There are clear goals to be achieved and this means that the relationship is structured in such a way that there is a clear progress towards achieving the goals. There are clear lessons to be learned and there are clear expectations, which are to be met. Even the time when the coaching takes place is structured and does not change easily. The focus is on clear development agendas that are to be achieved at every defined point.

BOTTOM LINE;

Coaching and mentorship are two different aspects of career growth. While mentorship involves some kind of hand-holding, coaching involves an active process of imparting specific skills in you to help you achieve particular goals.

It is important to establish what exactly you want in a relationship as this will help you define whether it is mentorship or coaching.

The elusive peace in South Sudan

The handshake that never held! 

When hundreds of political prisoners have remained caged, and rebel leader, Dr, Riek Machar insists on not arriving in #Juba at this particular time, even on official invitation of President Salva Kiir; And another rebel leader, Gen. Thomas Cirillo, insisting not to be part of the peace process; it leaves us all with more questions than answers.

QUESTIONS LINGER;

Already, many common people are creating scary rumours, about the war situation in the newest state in the world, South Sudan. For the umpteenth time, we read stories of accusations and counter-accusations; that some political actors in Juba are conspiring to make sure peace in South Sudan does not happen. People are asking some important questions of the two key actors; President Salva Kiir and Dr. Riek Marcha. That, why can’t they (#Kiir & #Machar) be true to their own words, and end the suffering of people in their country? That when will the armed conflict there end?

They see it has already led to serious human rights violations. Where there were mass atrocities against civilians and killings along ethnic lines. Abductions, rape, and sexual violence were rampant. Villages were destroyed. That is why people are right to demand that the key players show some honesty this time round in order to get peace.

MY TAKE:

If genuine peace should return to baby SS, all stakeholders involved ought to bring humility to the discussion table. Here, truth and accountability are high among the missing pieces of the puzzle in efforts to stop the five-year brutality that has no doubt, left an ineradicable mark.

It is commendable that the recent progress in peace process has brought Nairobi, Entebbe, Khartoum and Addis Ababa on board.

To join hands and try to make the government and the rebels of South Sudan and all others grow up and ink a permanent cease fire and power-sharing deal. The efforts are paying off because we see that President Kiir has already offered amnesty to all those who pointed a rocket launcher or a machine gun towards his direction.

United National Security Council (UNSC) intervened, threatening violators of the peace process with sanctions. Travel bans and asset freezes on individuals were also mooted. Even with these measures, there were still violations here and there, and there have been occasional setbacks in the peace process.

After Dr. Machar fled South Sudan in 2016, President Kiir always maintained a stance of unwillingness to talk peace. And the various peace initiatives that were proposed fell short of achievement. Against this non-commitment to peace as seen from the past, clearly, we know too well that signing agreements on paper is no big deal these days.

The big deal is to follow through with the implementation of the terms of the signed agreements.

Looking from the side-lines, the international community has been itching to weigh in, promising sanctions if Kiir and Machar do not comply. Mr. President accepted talks with his foe. And in September, an agreement was reached between Kiir’s group and Machar’s.

Now Machar becomes the first vice president of the south. And all the other loose ends of the agreement should seamlessly fall in place. Officials in Juba must now pull their weights in the same direction in order for peace to happen.

Otherwise, a regional force should be on hand to swing into action, to keep the peace process on track, so that the promises are not breached. The expectation is that the ugly days of the past are firmly behind to pave way for peace to prevail. But it will take honesty by all parties.

HONESTY OF PURPOSE;

We need president Kiir to be genuinely honest about the decision to call Machar to the high table and also free all the political captives from prison.

Likewise, we expect Machar to be humble enough to allow peace to happen in South Sudan. To avoid setting tough conditions that ensures all parties go divergent ways again.

Let us pray and hope for sustained peace to happen in South Sudan this time.

Being idle could be good

Tweeting on the ferry, blogging on the bus, chatting on the sidewalk, skyping on the zebra crossing, emailing at work. We are even raising our kids using gadgets!!
We communicate, constantly, everywhere. Every day I see people in Nairobi messaging while walking, crossing the street, up and down the stairs, on the elevator, in the bathroom and even while driving (yikes!).
The social urge of communication has grown exponentially in the past decade and is now filling every idle moment of our lives.
Some may argue that this continuous communication is annoying and mostly useless, it makes people unfocused and distracted.
Some may say that it is a way of relaxing, of feeling always in contact with somebody. The obvious fact is that these compulsive activities are occupying some specific spaces in our day, spaces that otherwise would be, or would seem to be, empty.
 In the visual arts, the urge by the artist of filling every empty space with details is called horror vacui, the fear of emptiness. The resulting style is frequently overcrowded and suffocating, and not surprisingly, it is originally the artistic style of mentally ill people.

Perhaps some spaces are meant to be left empty, to give harmony and breath to the whole picture of our day.
While endeavoring to use every single moment of “blank” time to indulge in addictive and distractive habits, indeed something does get lost.
As an audit consultant, my work requires intense focus on problems for long periods of time. The more I grow older and (hopefully) wiser, the more I appreciate the few pauses and moments of idleness in my day and protect them from any other casual distraction.

When riding the matatu home, for instance, I make it a point to do nothing else, not to force upon myself any phone calls, e-mails, video games or activities other than being aware of my surroundings.
It takes a good self-awareness to understand the importance of doing nothing.

Just sit there and enjoy the scenery. You will probably learn something that you'd have otherwise missed if you had your focus on you smart gadget!

80% women are prostitutes

Question: Who is a prostitute?
Answer: 80% of the women populations are prostitutes!

Now, dear ladies and women alike, before you start throwing your tampons and pads at me, you may have to sit back and let me defend my research! You see, in my theory, there are 2 kinds of prostitutes: the WILD and DOMESTIC prostitutes!

The wild ones are the ones that stands in the hotels, bars, lodges and back-streets for
commercial sex trade while the domestic ones are the so-called girlfriends we keep at home with the false impression that we have a decent clean babe all to ourselves, but unfortunately when we are away they sneak out to have sex with other guys and sugar daddies, now tell me how are they different from the roadside prostitute?

My Brothers, I see, it is the same thing. So whether you admit it or not if your wife sleeps around with your milkman when you are not in town, then you have a domestic prostitute in your house. So don’t judge other men who sleep with the wild prostitutes in hotels because you are in their shoes too.
Having said that, let the men speak based on the below observations:

1. Believe it or not, prostitutes are more disease free than the so-called clean babes. This is coz every man thinks her job is risky so there is need to protect himself with a condom and at the end 100 men may sleep with her but with a condom but with the so-called decent clean and homely babes, the man-friend thinks she is decent so he doesn't need a condom, tomorrow another man will think the same and do it with her again without using a condom and the cycle continues. At the end she has 100 men who have slept with her without condom yet she still parades herself as the homely, decent, clean, mummy’s pet babe, and the cycle begins again. What a shame!

2. A prostitute does not expect you to remember her birthday, not to talk of buying her gifts. You don’t also have to take care of her responsibilities like buying her body cream, paying for her hair do, etc. Yet you still enjoy maximum sex for a little fee which cannot be compared to the expenses we spend on our so-called clean babes. 

A friend of mine said his girlfriend won’t let him touch her or even talk to her because he didn’t give her a particular amount of money she requested. If this young man must give her that money before he would touch her then what is the difference between her and the prostitute out there?

3. You don’t need to remember the safe period of prostitutes because none of them would come back telling you they are pregnant.

4. Prostitutes won’t compel you to get married to them as the last thing on their mind is marriage.

5. A prostitute does not expect you to satisfy them, they would do anything to satisfy you and make you come for them again unlike the clean homely babes who expect you to take them to
cloud nine while they only lie on their backs and spread their legs like frozen chicken.

Now, with the aforementioned reason, why won’t MEN go for Prostitutes, tell me? And why are we still seeing the same old WILD prostitutes in the bar corridors while decent babes die of HIV out there?

Africa is taking over the Tech world

Africa’s embrace of technology turns two common assumptions inside out – that tech breakthroughs happen in rich countries, and that Africa needs basic services before it can use high-tech solutions. What Africa’s start-ups are doing is using technology to build those basic services – and a whole lot more.

In fact it’s in Africa where some of the world’s cutting-edge innovation is happening right now.

Technology is improving people’s lives – especially mobile services and applications. With minimal fixed line phone infrastructure, the continent has embraced the opportunity to leapfrog existing technologies, becoming a world leader in the delivery of such critical services through innovation.

Take JamboPay, for example.

JamboPay, which was founded in 2009, now has more than 5,000 institutional clients and processes more than $500 million in payments every year. The company has a presence in Kenya, Tanzania and Senegal and is expanding rapidly.

Jambopay has facilitated low-cost solutions to critical public problems and transformed the relationship between citizens and their governments. This is an African solution to a world problem.

In Sierra Leone, fishing communities have used a combination of mobile phones and GPS-enabled cameras to report on foreign fishing boats stealing from their waters.

Many of these systems struggle to bridge glaring gaps in existing services. African farmers, for example, need better access to data, which means establishing more and efficient weather stations. The agricultural information service, Esoko, can provide weather data to farmers in Ghana, for example, which suggests that meteorological agencies need to partner with the private sector.

One hurdle that technology innovation faces in Africa is the lack of power. About 620 million Africans live without access to electricity, but mobile phones need to be charged and transmitter towers need power. Access to energy is a constraint for social and economic progress all over the continent.

Africa is a continent of innovation and creativity, though – so technology itself is helping to break down the barriers to energy. Off-grid electricity is growing fast. Solar-powered phone chargers are becoming more common across the continent.

Technology could also help to bring down another barrier to progress in Africa. East Asian countries successfully converted their domestic savings into investment, facilitating their transformations to middle-income countries. But Africa has so far largely failed in this respect.

In most parts of the world, banks provide the major interface for savers. But Africa lacks bank branches, especially in rural areas, and the costs of banking are prohibitive for the overwhelming majority.

So how can Africa mobilize domestic savings? Technology can enable peer-to-peer lending – cutting out the middleman, removing the need for retail banks, and even leapfrogging existing business models.

Using mobile phones to make payments is another promising avenue. In Africa, just 23% of people have a bank account, but majority have access to a mobile phone.

Kenya’s mobile payment system, M-PESA, has shown the way. In just 10 years, M-PESA has enabled 25 million Kenyans to send and receive money electronically.

A promising offshoot is a micro-insurance health cover service that allows subscribers to contribute to health insurance via M-PESA. NHIF for example has adopted this concept while all banks have since integrated mobile transactions into their banking products and services.

Technology has been key to many of Africa’s most exciting developments in recent years. Watch out for new pan-African social media platforms emerging to challenge the global giants of Twitter, Facebook and LinkedIn. WhatsApp will be relegated to the periphery as the world looks to Africa for tech solutions.

New technologies will rapidly transform societies in the future. The robot generation will start in Africa. The action is already happening in Nairobi. Africa is leading