The Accountant-Jan-Feb 2017

STAR OF THE MONTH
In your view is the accounting
system in Kenya moving in the
right direction?
Yes -
• This is because of disclosure,
corporate governance, integrated
reporting and key audit matters;
making our financial reports more
appealing to the readers. However
there is need for a review of the
Accountants’ Act to respond to new
sectors after thorough consultation
with members.
• One issue of concern however
is that the institute needs to take
action on errant members to save the
face of the accounting profession as
the public heavily relies on us when it
comes to financial matters as we are
the experts.
What changes would you like to
see at ICPAK?
• The element of devolution; branches
need to be more empowered.
• The issue of technical services;
ICPAK needs to engage members
more as it’s the backbone of this
noble profession.
• The issue of member services; they
never pick up calls- this is a real
concern.
• ICPAK should also know what their
members do and where they are
based and also create opportunities
for members.
• ICPAK needs to streamline
who should be referred to as an
accountant as per Accountants’ Act.
• Public sector accountants are
disadvantaged because unlike
advocates and doctors, we don’t
get non-practicing allowance; this
should be addressed.
• Deregistration of members
should only happen after reaching
out to members and getting their
views. Find out why they have not
subscribed given that one may be
sick, out of employment or simply in
financial distress.
• Regarding corporate governance;
there is need for action on errant
members by the new disciplinary
team; fraud cases and creative
accounting are wrecking our image;
this must be redeemed at all costs.
• Disciplinary action should be
amicable and only taken when there
is sufficient evidence that a member
has failed in due professional care.
Also, proper investigations need to be
done before taking action. i.e. don’t
just go by hear -say.
• I appreciate the work done by the
office of the Accountant General by
training public sector accountants
at Kenya school of Government
and also encouraging public sector
organizations to participate in the
FiRe awards competition. This
approach has greatly improved public
sector financial statements and
sooner or later we shall be winning
awards in the competition.
What counsel do you have for
budding accountants?
You need to:
• Have a good accounting foundation
• Acquire strong IT skills
• Specialize in one line; accounting,
tax or auditing i.e. you should
specialize in your area of interest.
• Follow due process
• Be a problem solver and team
player; always lead from the front
and offer suggestions to your team
when there are bottle necks.
• Remember, good work ethics and
integrity will always stand you in
good stead.
• Never Gossip about anyone,
especially your seniors, juniors
and associates, it’s bad for you
and your advancement. Avoid it
like the plague, if there is an issue,
have fruitful deliberations and find
a solution. This not only applies to
your work place, it applies to all
aspects of your life, and to all of us.
What motivates you?
Getting it right first time; you need to
know what you want to do (goal) how
to do it, (process) when to do it (set
timelines) and why you are doing it
(what do you want to achieve?) you
also need to have a passion for it.
What do you do in your free time?
I like reading accounting and finance
journals, spending time with family,
watching football and also farming
as a hobby where I get some income.
Vote of thanks
I owe a lot of gratitude to my late
parents for teaching me the values
of life. My dad died when I was in
high school. If mum hadn’t taken
me to college, I wouldn’t be where
I am today. My parents taught me
the virtues of humility, patience,
integrity, accountability, fearing God,
and often reminded us that we do not
live in a vacuum as man is naturally
interdependent.
I would also like to thank all
my seniors for giving me immense
development skills and an
opportunity to grow by creating an
enabling environment for me to work;
I owe a debt of gratitude to Jane P.
Odhiambo, Managing Director of
Sony sugar company Ltd and to
other staff member without them, I
wouldn’t have attained what I have
today.
56 JANUARY - FEBRUARY 2017