Icpak cautions State against using debt for recurrent expenditure
Institute of Certified Public Accountants of Kenya (Icpak) chairperson Rose Mwaura has urged the government to prudently use borrowed funds in financing development projects as opposed to recurrent expenditure. Read more
Need for clarity on tax amnesty
Tax amnesty in Kenya was introduced vide the Finance Act 2016 to ensure repatriation of funds held abroad to the country so as to bridge budget deficits and spur economic growth. One would apply under Section 37(B) of the Tax Procedures Act 2015 and repatriate their foreign-held assets within the amnesty period. This has been […]
Accountants body promises to protect accountant who exposed theft at Maasai Mara University
The whistleblowers led by Spencer Sankale Ollchike, were highly praised for their bravery and choosing courage over fear to expose the theft. In a statement issued by the institute on Monday, September 2, it noted that it was aware that previously, dire consequences have befallen employees who have attempted to whistle blow . “Government and […]
Accountants, MPs split on interest rate cap repeal
Accountants, National Treasury officials and the National Assembly’s Finance Committee are split over the proposal to repeal the interest rate cap law. While the Institute of Certified Public Accountants of Kenya (ICPAK) are divided on whether to repeal the law or not. A section of the committee wants the law upheld while some are in support […]
ICPAK wants interest rate cap law for two more years
Accountants are pushing for a two-year extension on law capping interest rate saying its full benefits are yet to be realised. The Institute of Certified Public Accountants of Kenya (ICPAK) told Parliament the law on rate caps has instilled discipline in the economy in general. “Our proposal is that the interest rates are capped for […]
Kenya to host regional financial awards
Public sector entities have been urged to take part in the financial reporting awards scheduled for November to boost integrated reporting through enhancing accountability, transparency and integrity. The annual awards recognises excellence in financial reporting, sound corporate governance practices and environmental reporting for both public and private sector entities within the larger East African region. […]
Deposit of new currency notes in ATMs to take longer
It will take longer for customers to deposit the new currency notes using ATM machines, according to the Kenya Bankers Association. Chief Executive Habil Olaka said this is because some of the banks that offer the ATM deposit service have yet to install a Cartridge System Software which acts as a security checker in notes. […]
