There is need to strengthen the quality of financial management within central and county governments to minimize corruption levels.
According to a report ‘The Future of Accountancy’ launched in Nairobi on Wednesday by the Institute of Certified Public Accountants of Kenya (ICPAK) and Association of Chartered Certified Accountants (ACCA), lack of good financial systems in Kenya is due to failure by the government to fully exploit the skills and experience of its professional accountants.
Speaking during the launch in Nairobi, ICPAK’s Chief Executive Officer (CEO), Edwin Makori observed that the most pressing challenge in Kenya’s economy is how to improve corporate governance in the private and public sectors including corporations.
“We are seeking to create more opportunities for the upcoming new generation of accountants,” said Makori who further explained that the objective of the report is to handle current challenges in accountancy and to inform the professional accountants of what would be expected of them in the future.
The ACCA Ag. Head, George Njari added there was need to raise the level of accountants to a strategic level to enhance their bargaining power through engaging in socioeconomic and policy issues.
By Kishengo Gathigia/Makau Joshua