Kenya Power has announced that it will delay in the publication of audited financial statements for the year ended 30th June 2019.
In an announcement, the company said that this is as a result of their waiting for the appointment of a new auditor-general.
Consequently, Kenya Power will publish the results on or before 30th November 2019. This will happen upon certification by the auditor-general who is likely to be appointed towards the end of November 2019.
According to regulation 63(7) of the Capital Markets, state-controlled companies must secure the Auditor General’s approval for reporting the audited financial results.
Capital Markets Authority requires companies to publish their results within three months after the close of the review period. In this case, October 31, 2019.
Other companies that have announced a delay in their publication citing same reasons include KenGen and East African Portland Cement.
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