The mandate and core functions of ISC as spelt out in the State Corporations Act, Cap 446 are;-
- advise the Government on all matters affecting the effective running of state corporations;
- report periodically to the relevant arms of Government on management practices within any state corporation;
- report to the Auditor-General any cases where moneys appropriated by Parliament are not being applied by state corporations for the purposes for which they were appropriated;
- conduct special investigations of any state corporation on behalf of the State Corporations Advisory Committee and the Auditor-General; and
- Undertake surcharge action against any person who incurs or authorizes irregular expenditure of state corporation funds or any person who through negligence or misconduct causes loss of funds in state corporations.
This mandate was expanded through the Legal Notice No. 93 of 2004 which introduced performance contracting in State Corporations.Â The expanded ISC mandate includes evaluating actual results of operations and management by state corporations on the basis of the agreed performance targets; determining methods for evaluating performance in state corporations on the basis of specified and agreed targets; developing performance evaluation criteria; and advising on the administration of performance contracts.
To execute the foregoing mandate/functions ISC has been structured into the following four functional areas for administrative purposes:-
- Performance Management: This entails review of performance reports of state corporations and provision of feedback on the same on quarterly basis.
- Compliance, Investigation and Advisory Services: This entails carrying out inspections, special investigations and management audits in state corporations and advising relevant arms of Government on the better management of state corporations.
- Surcharge and Restitution: This entails reviewing PIC reports as well as reports of inspections, special investigations and management audits undertaken by ISC and surcharging persons responsible for loss of funds in state corporations.
- Resource Management and Administration: This entails providing supportive services in order to facilitate the execution of the ISC mandate / core functions.
Programmes and Projects to be Undertaken in FY 2018/19
In the FY 2018/19, ISC will endeavour to carry out programs and project listed below.
- To promote good corporate governance in State Corporations
- Carry out comprehensive management / investigative/special audits
- Participate in Board and Committees meetings
- Assemble, collect and organize surcharge cases for submission to Surcharge Committee
- To enhance service delivery by State Corporations
- Analyze and provide feedback on quarterly performance reports of state corporations
- Carry out inspection of ongoing projects in state corporations
- Develop an Integrated State Corporation Management Information system (ISCMIS)
- To mobilize and promote optimal utilization of resources for development and sustainability of ISC.
- Development of ISC Strategic Plan 2018-2022