Members of the public actively engaged with a delegation from the National Treasury during a public participation forum on the draft Government Assets Valuation Policy held at Chuka University. The forum provided an opportunity for participants to offer their views and inputs on the policy and to commend the efforts made towards its development.
The event was officially opened by the Tharaka-Nithi County Commissioner, Mr. David Gitonga, who was accompanied by the Deputy Governor, Mr. Nyaga Muisraeli, and other county officials. The Deputy Governor emphasized the vital role the proposed policy will play in supporting accurate valuation of public assets and promoting transparency in financial reporting.
Delivering a speech on behalf of the Principal Secretary for Public Investment and Asset Management, Mr. Gitonga highlighted the urgent need to improve current asset valuation practices. He noted that existing methods have contributed to significant issues, including undervaluation or overvaluation of assets, contested audit outcomes, inefficient resource utilization, and poor investment decisions.
In response to these challenges, Mr. Gitonga reaffirmed the government’s commitment to institutionalizing asset valuation policies that are aligned with national development priorities and consistent with global best practices. Specifically, he referenced the International Valuation Standards (IVS) and International Accounting Standards as guiding frameworks.
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