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.
According to the Public Sector Accounting Standards Board (PSASB) chief executive officer Fredrick Riaga, participation in the award has resulted in improved financial reports and disclosures through formal feedback from the evaluation panelists.
“We have made the participation by public entities mandatory in a bid to encourage government organizations to embrace best practices in reporting and demonstrating good governance.
The award will culminate in a gala dinner hosted by Public-Sector Accounting Standards Board-Kenya (PSASB), the Capital Markets Authority (CMA) Kenya, the Institute of Certified Public Accountants of Kenya (ICPAK) and the Nairobi Securities Exchange (NSE).