Accountants urged to lead fight against misuse of public funds

By Robert Mutasi

The 41st Annual Seminar of the Institute of Certified Public Accountants of Kenya identified the accountant as a key facilitator of entrenching integrity and transparency in the management of public resources.

Taking place from November 18-22, 2024, in Mombasa, the seminar drew together policymakers, financial experts, and public officials to discuss sustainability in economic practices and accountability.

Kimani Ichung'wah, the Majority Leader in the National Assembly, emphasized prudent housekeeping of finances and exhorted accountants to play an active role in combating the misuse and misappropriation of public funds.

"Accountants are the custodians of public faith. The culture of transparency and accountability is not only a professional requirement but also a moral one," Ichung'wah said during a session on leadership and financial transformation.

Treasury Cabinet Secretary John Mbadi echoed these sentiments, citing the critical role of accountants in ensuring that financial management is in line with Kenya's sustainable development goals.

He emphasized strict observance of international financial reporting standards, noting that such is conducive to investor confidence and economic growth.

Murang'a Governor Irungu Kang'ata also attended and contributed with views on how to enhance county financial governance.

He called for increased training of accountants so as to give them the capacity to handle corruption cases for effective resource utilization.

It again highlighted that sustainable finance was important, going hand in hand with the overall theme of the seminar: climate action and governance.

Panel discussions featured experts on topics ranging from sustainability reporting to ethical leadership.

Participants were called upon to embark on emerging technologies such as data analytics to aid decision-making and even risk management.

ICPAK is a product of the Accountants Act and continues to play a leading role in setting professional standards for ethics and best practices among Kenya's accountants.

The organization currently has more than 30,000 members, a cornerstone within the nation's financial ecosystem that continues to spur innovation and accountability.

In closing, participants at the seminar concluded that accountants should lead from the front in championing integrity and transparency so that public resources serve the collective interest of all Kenyans.