The National Assembly's Public Investments Committee on Social Services Administration and Agriculture chaired by Hon. Emmanuel Wangwe ( Navakholo) met Managing Trustee of the National Social Security Fund (NSSF) Mr. David Koros to review the Auditor General's report on the books of accounts for the Financial Year 2019/2020. 

Members asked questions about outstanding balances for receipts in bank statements not reflected in cash books and payments in cash books not reflected in bank statements . Further, they sought an explanation about payments in bank statements not replicated in cash books. 

In his response, Mr. Koros told the Committee that reconciliation is a continuous process. He noted that the fund has automated the bank reconciliation process which has reduced the time taken to clear effects.

 In addition, Hon. Wangwe sought information regarding fixed deposits of over Kshs.200 million held in two bank accounts that have since been closed and therefore auditors were not able to confirm the balance. 

Members further raised concern with Members contributions to the Fund following the auditor’s revelations that deductions from employers took time to be updated. After a detailed perusal of the report, Members suggested that the delayed update of contributions be investigated. 

Having been at the helm of the organisation for one month now, the Managing Trustee, Mr. Koros asked the Committee to allow him time to deal with historical issues in the Fund as he strives to put things in order by deploying stringent management systems.