<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto">Ngigi<div><br></div><div>My point exactly. </div><div><br></div><div>Assets and liabilities are usually about a For-Profit company. Doesn’t the ICT Authority have a larger calling than to subject it to the same principles as a company? What I expect from the auditor is this:-</div><div><br></div><div>1. The Authority was allocated X amount of money in this financial year for X activities.</div><div>2. The Authority’s mandate was X and based on the funds allocated it was able to achieve X. </div><div>3. The inability to execute its mandate wa due to X.</div><div>4. Funds allocated to the Authority were misused or were re-allocated to this.</div><div><br></div><div>You get my drift.</div><div><br></div><div>We need to elevate ourselves beyond this pedestrian thinking that such an important body is audited based on its assets and liabilities. This is a country for crying out loud not Bidco or even Safaricom.<br><br><div id="AppleMailSignature" dir="ltr"><div><span style="-webkit-tap-highlight-color: rgba(26, 26, 26, 0.294118); -webkit-composition-fill-color: rgba(175, 192, 227, 0.231373);"><b>Ali Hussein</b></span></div><div><span style="-webkit-tap-highlight-color: rgba(26, 26, 26, 0.294118); -webkit-composition-fill-color: rgba(175, 192, 227, 0.231373);"><b>Principal</b></span></div><div><b style="background-color: rgba(255, 255, 255, 0);">AHK & Associates</b></div><div style="font-family: Helvetica; font-size: medium; -webkit-tap-highlight-color: rgba(26, 26, 26, 0.296875); -webkit-composition-fill-color: rgba(175, 192, 227, 0.230469); -webkit-composition-frame-color: rgba(77, 128, 180, 0.230469); -webkit-text-size-adjust: auto; ">+254 0713 601113 </div><div style="font-family: Helvetica; font-size: medium; -webkit-tap-highlight-color: rgba(26, 26, 26, 0.296875); -webkit-composition-fill-color: rgba(175, 192, 227, 0.230469); -webkit-composition-frame-color: rgba(77, 128, 180, 0.230469); -webkit-text-size-adjust: auto; "><br></div><div><p style="margin: 0in 0in 0pt;"><span style="background-color: rgba(255, 255, 255, 0);">Twitter: @AliHKassim</span></p><span style="background-color: rgba(255, 255, 255, 0);"><font></font></span><p style="margin: 0in 0in 0pt;"><span style="background-color: rgba(255, 255, 255, 0);">Skype: abu-jomo</span></p><p style="margin: 0in 0in 0pt;"><span style="background-color: rgba(255, 255, 255, 0);">LinkedIn: <a href="http://ke.linkedin.com/in/alihkassim" target="_blank">http://ke.linkedin.com/in/alihkassim</a></span></p><font><br></font></div><div><span style="background-color: rgba(255, 255, 255, 0);">"We are what we repeatedly do. Excellence, therefore, is not an act but a habit." ~ Aristotle</span></div><div><br></div><div><span style="-webkit-tap-highlight-color: rgba(26, 26, 26, 0.294118); -webkit-composition-fill-color: rgba(175, 192, 227, 0.231373);"><br></span></div>Sent from my iPad</div><div dir="ltr"><br>On 22 Oct 2018, at 11:08 AM, Ngigi Waithaka via kictanet <<a href="mailto:kictanet@lists.kictanet.or.ke">kictanet@lists.kictanet.or.ke</a>> wrote:<br><br></div><blockquote type="cite"><div dir="ltr"><div dir="ltr"><div>Ali,</div><div><br></div><div>This...</div><div><br></div><div>"The auditor, in a report tabled in the National Assembly last week, said
the agency's liabilities of Sh1.6 billion exceed its Sh386 million
assets..."<br><br></div><div>What a difference a couple of years makes :-(</div><div><br></div><div>Rgds<br></div></div><div class="gmail_extra"><br><div class="gmail_quote">On Mon, Oct 22, 2018 at 10:44 AM, Admin CampusCiti via kictanet <span dir="ltr"><<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="auto">I’m curious to understand this insolvency conclusion.<div><br><div>Just picked up this explanation of insolvency from Wikipedia.</div><div><br></div><div><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Insolvency</b> is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">insolvent</span>. There are two forms: cash-flow insolvency and balance-sheet insolvency.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Cash-flow insolvency</b> is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)"><b style="margin:0px;padding:0px;border:0px;font-style:inherit;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">Balance-sheet insolvency</b> is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none"><span style="background-color:rgba(255,255,255,0)">A company that is balance-sheet insolvent may still have enough cash to pay its next bill on time. However, most laws will not let the company pay that bill unless it will directly help all their creditors. For example, an insolvent farmer may be allowed to hire people to help harvest the crop, because <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">not</span> harvesting and selling the crop would be even <span style="margin:0px;padding:0px;border:0px;font-style:italic;font-variant-caps:inherit;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">worse</span> for his creditors.</span></p><p style="margin:0.5em 0px 1em;padding:0px;border:0px;font-stretch:inherit;line-height:inherit;vertical-align:baseline;background-image:none">I suggest that we don’t consume news that is shallow and half baked. This is a critical government agency and sensationalism does no one any favors. The editors have a fiduciary responsibility to expound and give us an in-depth expose of what the auditor’s report actually says and an interpretation of what it means. </p><div>My two cents.</div><br><div id="m_596299892920926635AppleMailSignature" dir="ltr"><div><span><b>Ali Hussein</b></span></div><div><br></div><div style="font-family:Helvetica;font-size:medium">+254 0713 601113 </div><div style="font-family:Helvetica;font-size:medium"><br></div><div><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">Twitter: @AliHKassim</span></p><span style="background-color:rgba(255,255,255,0)"><font></font></span><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">Skype: abu-jomo</span></p><p style="margin:0in 0in 0pt"><span style="background-color:rgba(255,255,255,0)">LinkedIn: <a href="http://ke.linkedin.com/in/alihkassim" target="_blank">http://ke.linkedin.<wbr>com/in/alihkassim</a><a href="http://ke.linkedin.com/in/alihkassim" target="_blank"><span style="text-decoration:none"></span></a></span></p><span style="background-color:rgba(255,255,255,0)"><font></font></span><p style="margin:0in 0in 0pt"></p><font><span style="background-color:rgba(255,255,255,0)">Blog: <a href="http://www.alyhussein.com/" target="_blank">www.alyhussein.com</a></span><br></font></div><div><span><br></span></div><div>"Discovery consists in seeing what everyone else has seen and thinking what no one else has thought". ~ Albert Szent-Györgyi</div><div><span><br></span></div>Sent from my iPad</div><div><div class="h5"><div dir="ltr"><br>On 22 Oct 2018, at 8:07 AM, S.M. Muraya via kictanet <<a href="mailto:kictanet@lists.kictanet.or.ke" target="_blank">kictanet@lists.kictanet.or.ke</a><wbr>> wrote:<br><br></div><blockquote type="cite"><div dir="ltr"><div dir="auto">Priorities, priorities, priorities..<div dir="auto"><br></div><div dir="auto">Auditor: ICT authority is technically insolvent<br></div><div dir="auto"><br></div><div dir="auto"><a href="https://www.nation.co.ke/news/Auditor--ICT-authority-is-technically-insolvent/1056-4816222-1ob4pwz/index.html" target="_blank">https://www.nation.co.ke/news/<wbr>Auditor--ICT-authority-is-<wbr>technically-insolvent/1056-<wbr>4816222-1ob4pwz/index.html</a><br></div></div>
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</div></blockquote><blockquote type="cite"><div dir="ltr"><span>_______________________________________________</span><br><span>kictanet mailing list</span><br><span><a href="mailto:kictanet@lists.kictanet.or.ke">kictanet@lists.kictanet.or.ke</a></span><br><span><a href="https://lists.kictanet.or.ke/mailman/listinfo/kictanet">https://lists.kictanet.or.ke/mailman/listinfo/kictanet</a></span><br><span>Twitter: <a href="http://twitter.com/kictanet">http://twitter.com/kictanet</a></span><br><span>Facebook: <a href="https://www.facebook.com/KICTANet/">https://www.facebook.com/KICTANet/</a></span><br><span>Domain Registration sponsored by <a href="http://www.eacdirectory.co.ke">www.eacdirectory.co.ke</a></span><br><span></span><br><span>Unsubscribe or change your options at <a href="https://lists.kictanet.or.ke/mailman/options/kictanet/info%40alyhussein.com">https://lists.kictanet.or.ke/mailman/options/kictanet/info%40alyhussein.com</a></span><br><span></span><br><span>The Kenya ICT Action Network (KICTANet) is a multi-stakeholder platform for people and institutions interested and involved in ICT policy and regulation. The network aims to act as a catalyst for reform in the ICT sector in support of the national aim of ICT enabled growth and development.</span><br><span></span><br><span>KICTANetiquette : Adhere to the same standards of acceptable behaviors online that you follow in real life: respect people's times and bandwidth, share knowledge, don't flame or abuse or personalize, respect privacy, do not spam, do not market your wares or qualifications.</span><br></div></blockquote></div></body></html>