ICPAK raises concern over faulty reports
By Herald Aloo Erratic legal and regulatory environments have been identified as the top hindrance in the presentation of audited financial reports devoid of misinterpretations. Institute of Certified Public Accountants of Kenya (ICPAK) said this has resulted in challenges in the “readability and understandability” of financial statements leading to loss of funds by investors. For instance, […]
County audit reports alarming – ICPAK
By Victor Amadala- The Star Newspaper Only three counties have once received clean audits since the introduction of devolution, illustrating massive corruption in decentralized governments. Speaking during the baseline study on Readability and Understandability of Financial Statements in Kenya, the Institute of Certified Public Accountants of Kenya (ICPAK) chairman George Mukua termed the situation as […]
Accrual accounting pathway to fiscal transparency in Kenya
By George Mokua | Jul 19th, 2022 In recent times, discussions have been rife in the public sector on the merits of shifting from cash to the accrual basis of accounting for purposes of enhancing fiscal reporting. Accrual basis of accounting is an accounting method that requires revenues and expenditures to be recorded in the financial […]
MPs urged to expedite enactment of Prompt Payment Bill
By Herald Aloo The Institute of Certified Public Accountants of Kenya (ICPAK) has urged the national and county governments to expedite the implementation of the Prompt Payment Bill, 2021 to address the ballooning pending bills that now risks transitioning to the next administration. It urged the two levels of government to adhere to the prescribed […]
Rogue accountants a weak link in corruption war — Matiang’i
By AURA RUTH Interior Cabinet Secretary Fred Matinag’i says there has been an unprecedented rise in the number of corruption cases implicating accountants. He said the problem cuts across the public and private sectors and this risks eroding the credibility of the Institute of Certified Public Accountants (Icpak) which regulates and licenses accountants. He said […]
Lobby groups ask IEBC, EACC to raise integrity bar in 2022 election
By Kevin Cheruiyot The Institute of Certified Public Accountants of Kenya (ICPAK), Transparency International- Kenya, and Amnesty International- Kenya have jointly called upon IEBC and EACC to use the 2022 general elections to raise the integrity bar and root corrupt leaders. In a statement on Thursday, which coincided with the International AntiCorruptio Day, the lobby […]
Accountants ask State to cap food prices amid high inflation
By Joackim Bwana | May 26th 2022 | The Institute of Certified Public Accountants of Kenya (ICPAK) wants the government to cap the price of food commodities and stop further increases in fuel pump prices to cushion consumers. Since the beginning of this year, the accountants said, the soaring cost of food and fuel has been a major driver of overall […]
Icpak raises concern over economic dip on election year
By Graham Kajilwa The Institute of Certified Public Accountants (Icpak) wants the government to take responsibility for the recurring economic decline every election cycle. The accountants’ lobby said the government should address the “root causes” of the dip even as the country prepares to go into elections in August. Icpak Chairman George Mokua said statistics and trends have […]