Kisumu governor Prof. Peter Anyang’ Nyong’o has called on women in the accounting profession to be on the forefront in championing for prudent financial practices at the workplace.
The governor observed that although we have many legislations providing a solid foundation for fiscal discipline, laws alone are not enough and there must be clear execution plans, a framework, and a commitment to values for the country to grow economically.
“We must therefore live the principles of integrity and transparency in our daily actions. I call upon you professionals; accountants, auditors, and finance officers to continue being the guardians of public trust. Your role is pivotal in turning the aspirations of our laws into tangible impact for and on behalf of our citizens,” Prof. Nyong’o stated.
To this end, the governor urged the women accountants and their male counterparts to focus on turning ideas into action by building systems that are transparent, resilient, and centred on impact and endeavour to make compliance not just a requirement, but a shared culture across all institutions, noting that when compliance becomes a culture, impact becomes inevitable.
“Finance management is not merely about following rules; it is about cultivating a mindset of integrity, discipline, and responsibility. It is about making accountability part of our daily work, not just a report we produce at the end of the year,” the governor advised.
He was speaking during the Association of Women Accountants of Kenya’s (AWAK) 8th Public Finance Management (PFM) Conference held in Kisumu on Wednesday.
This year’s conference themed “Delivering Impact by Fostering a Culture of PFM Compliance,” is perfectly timed, given the societal needs around public financial management.
Nyong’o noted that Section 194 of the Public Finance Management Act, 2012, mandates the Public Sector Accounting Standards Board (PSASB) to set generally accepted accounting standards and guidelines for all state organs and public entities.
However, he reminded the participants that we live in a period of great fiscal and economic pressure where governments around the world face rising public debts, limited resources, and increasing demands for quality public services.
At the same time, citizens are more informed about their rights and are demanding greater accountability and tangible results for every public shilling.
Consequently, the governor advised members of the accounting profession to endeavour to confront the realities before them which include: revenue collection which so far remains a challenge; pending bills which continue to weigh down our economy; and inefficiencies that persist within our financial systems.
But he reminded them that these challenges also present opportunities to innovate, reform, and to harness technology for better financial management.
“In recent years, we have witnessed commendable efforts by PSASB which range from developing user templates and conducting capacity-building workshops to partnering with institutions in monitoring compliance,” the governor affirmed.
Nyong’o commended the recent amendments to the Public Finance Management (PFM ) Act which required the Board to prescribe a framework for implementing accrual accounting in government and to develop a risk management framework to enhance efficiency and effectiveness in government operations.
This accrual accounting is a method of accounting that recognizes revenue when earned and expenses when incurred regardless of when cash is exchanged. Experts say this system gives a more accurate picture of an organization’s financial standing.
“You all recall that in 2023, the Government of Kenya launched the “Zero Fault Audit” initiative which was aimed at eliminating audit queries in public entities to promote good governance, integrity, and accountability,” he recalled.
Nyong’o termed it as a noble and well-thought-out idea to help public institutions achieve clean audit reports by resolving pending audit issues and strengthening internal audit functions and control environments.
He reaffirmed his government`s commitment to reforms that promote openness, digitization, and results-based budgeting.
“This is why we cherish and look forward to continued collaboration with other stakeholders like AWAK, especially in uplifting local women from less privileged backgrounds through our Corporate Social Responsibility initiatives,” he said.
The Association of Women Accountants of Kenya (AWAK) is a non-political and non-profit making professional women accountants’ organization. It was registered in 1994 under the Societies Act. Its main objective is member empowerment, while at the same time contributing to varying needs in society.
By Mabel Keya-Shikuku
