Mhona slams public entities for poor corporate governance 

Source: Mhona slams public entities for poor corporate governance -Newsday Zimbabwe

Felix Mhona

TRANSPORT minister, Felix Mhona has slammed public entities under his ministry for not complying with the Public Entities Corporate Governance Act.

Speaking at the Line Minister’s Public Entities Corporate Governance Oversight  meeting in Bulawayo yesterday, Mhona emphasised the need for public entities to produce annual reports, board charters and annual audits to comply with the Public Entities Corporate Governance Act.

He said: “Our entities are required to submit Annual Reports in terms of Section 24 (3) of the Act and other relevant provisions of the enabling legislation for respective Public Entities.

“Most of you are falling short to comply with this requirement. Annual statutory reports are integral in the broad scheme of things as far as parliamentary oversight is concerned. Annual reports must be submitted before Parliament for deliberation and scrutiny.

 “Lack of compliance is also around the issue of Annual Audit of Accounts in terms of Section 36 of the Act and relevant enabling legislation of the respective public entities. Most of your financials are behind with one or two and some with three years.

“Remember, these financials should be part of the reports you send to Parliament through my office for oversight of financial prudence. It is of public interest that these financials be done and shared.”