The Accountant-Mar-April 2017

Management
THE CHANGING FACE
OF THE ACCOUNTING
PROFESSION
Interviewed by Angela Mutiso, cananews@gmail.com
It is a commonly held view
that accountants are by nature
‘conservative’. This is because they
have to exercise a lot of caution
due to the sensitive nature of their
work. The accountant’s job is dynamic
and its profile is always growing. They
must rediscover, rebuild and rebrand
themselves. They must change their way
of thinking, and rapidly equip themselves
for bigger tasks ahead.
FCPA Julius Mwatu, the Chief
Finance Officer (CFO), Indigo Telecom
advises fellow accountants to be ready
to rebrand themselves “to the strategic
thinker who businesses can rely on for
strategic direction”. In a candid interview
with The Accountant, FCPA Mwatu, the
current Vice Chairman of ICPAK states
that an accountant is nothing short of a
leader and must lead from the front. He
says branding and thinking in a structured
way, is vital for any professional who wants
to move forward. “I believe in a structured
way of thinking and that you must be
proactive,” explains the CFO simply. He
adds that; “I take the earlier training of an
accountant more as a seed, than a harvest,
which you must then plant and nurture to
grow you into the professional the world
out there expects”.
Below are excerpts of the interview:
How do you find accounting in
Kenya today?
The profession is up there in terms
of profile and growth. Last year was
particularly a good year; and we saw our
members appointed to the top jobs in
both public and private institutions. There
is indeed confidence that accountants can
deliver.
As an Institute (ICPAK), we are doing
reasonably well. We now have about
20,000 registered accountants representing
a 100% growth in the last 3 years. A lot of
young graduates are joining the Institute,
and that is a show of confidence by our
young accountants and an assurance
to the future of the profession. ICPAK
must do more to meet expectations and I
am glad the mentorship program for the
youth is underway. We need to seek more
job opportunities for the youth through
internships and placements.
With devolution and the expanded
governance structures under the
Constitution 2010, there is a bigger
opportunity for the accountant
professionals in the public sector. This has
been a progressive agenda and I believe
that we are not there yet but we are getting
somewhere. Our destiny is indeed not
created by the shoes we wear, but by the
small steps we take!
What about mergers? Is it a
good thing?
You must understand what you are getting
into, because there are pros and cons. You
need to pick on people with a similar
vision. It’s interesting to note that 80% of
our practitioners are single partner firms -
I personally support mergers because they
create synergies and expand opportunities.
Accountancy is very diverse and merging
embraces this diversity and opens doors
for more opportunities. The world over is
going the supermarket way of doing things
and everyone now is looking for a one
stop shop. Is Kenya ready for it? I think
so; I have worked with KPMG, Ernst &
Young, and PKF; the bigger accountancy
firms have already embraced this and I
guess it’s the way to go.
From where do you draw your
inspiration?
Working with people, listening to
divergent views… I consult a lot and reflect
a lot. I believe everyone has something to
offer and I really get motivated when we
finally agree as a team. When you know
people have divergent views and finally
agree on a common view and a common
position, you are sure you have an objective
team and the decision is right. Leadership
has only two components; the strategic
think and character, and the latter is the
10 MARCH - ApRIL 2017