Role of Audit Committees in Promoting Corporate Governance and Accountability in Constituency Development Fund Management in Nairobi Province

Abstract

The purpose of this study is to present a case for the need for audit committee in Constituency Development Fund to promote corporate governance and accountability in constituency development fund management in Nairobi Province. The paper provides an analysis and a survey of 8 constituencies of Nairobi province in the field of cooperative governance and accountability in constituencies development fund management of the extent of engagement research in the field of corporate governance and accountability in constituency Development Fund management and present case for further research that may be directed to constituencies outside Nairobi province.

The study found out that the audit committee should be established in constituency development fund in Nairobi province to improve corporate governance accountability and management. It recommends audit committee to enhance CDF performance and improve relationships among the major players in CDF governance. The lack of 'engaging audit committees' is found to be due to concerns about increasing the breadth of participants in the constituencies' development fund governance and accountability and 'managerial capture'. This paper recommends that the audit committee can play a great role in promoting corporate governance and accountability in CDF, improve the relationships among the major players in CDF corporate governance