Asset tagging for county governments and parastatals
Individually identified assets, a reconciled register and a documented verification trail — structured around what the Auditor-General will actually ask for.
If you are an accounting officer in a county, a parastatal or a state corporation, your asset register is not an administrative nicety. It is a statutory obligation, and it will be tested.
Sections 67 to 74 of the Public Finance Management Act, 2012 make designated accounting officers responsible for the proper management of their entity's finances. The National Treasury's General Guidelines on Asset and Liability Management in the Public Sector, issued in March 2020, work toward consolidated national fixed assets and liabilities registers, and Treasury Circular No. 5 of 2020 addresses the preparation of those registers directly. Entities reporting under IPSAS carry the underlying record-keeping requirements that flow from it.
Most counties we work with are not starting from zero. They are starting from something worse: a partial register inherited from defunct local authorities, assets transferred at devolution with no documentation, and a spreadsheet that has been added to but never reconciled.


