The Kenya Electricity Generating Company PLC (KenGen) will delay the publication of audited financial results for the financial year ended June 30, 2019, as it awaits the appointment of the new auditor general.
State Controlled companies must secure the Auditor General’s approval for reporting the audited financial results.
At the moment, the position of Auditor General is vacant after the previous occupant retired in August.
In a statement, KenGen said it will delay the results by a month as the ongoing appointment process is expected to be completed towards the end of November 2019.
KenGen notes that it failed to meet Capital Markets Authority’s stipulated deadline requiring companies to publish their results within three months after the close of the review period which in this case is October 31, 2019.
Therefore, the power generator sought approval from CMA for an extension to publish the said results on or before November 30, 2019.
