Change of Guard at ICPAK
Compiled by Angela MutisoThe 43rd Annual General Meeting of the Institute of Certified Public Accountants of Kenya- (ICPAK) took place on 4th June 2021 at the Sarova Panafric Hotel in Nairobi. The meeting was attended both physically and virtually. During the summit, the outgoing Chairman, FCPA Rose Mwaura, among other things, outlined what ICPAK had been able to attain during her 2 year tenure and the steps her team had taken to ensure the institute was effectively run during the pandemic. It was noted that since elections can be complex, a team was set up to look into among other things, the rules that should guide elections in future. During the meeting, former ICPAK Chairman FCPA Stephen Lugalia who led the review team, outlined their findings and recommendations going forward. He said it was necessary to look at the posterity of the institute. His team addressed several issues including; the need for a level playing field during elections, the duration of the campaign should be shortened and the avoidance of promotional materials for campaign. He said people should shy away from tribalism, so you get votes because of what you intend to do for the institute, not because of what you have given to the electorate to vote for you. In addition, you should have been a member of the institute in good standing for a specified time, the title should be changed from Chairman to President and Vice President, and those intending to hold such positions should be passionate about the institute. Newly elected council members were given an opportunity to address the meeting in which the annual report was presented and discussed. The leadership thanked the secretariat, members of the institute the council and stakeholders for working together to make ICPAK advance peacefully and efficiently despite the pandemic. Those who had retained their positions and new members thanked the electorate and pledged to give their best.
FCPA Mwaura thanked the Chairman- elect, the Chief Executive, Council, and the entire secretariat for their dedication and leadership during difficult times. She challenged them to keep delivering on their pledges to members, particularly considering the renewed 2021 Strategic plan, stating that she was sure they would succeed. In the end it was clear that members would miss the spontaneity of her
work, and she, the good will of such hardworking colleagues.
To all our members, I honour your passion and commitment. I thank you for the faith you have had in my leadership over the last two years as your Chairman and before that as your Council Member. God Bless you! God Bless ICPAK.
Meeting, she said she would endeavor to enhance regulation of the profession by ensuring timely and effective implementation of the amendments to the Accountant’s Act. Noting that this would safeguard the sanctity of the profession and public interest. She was the 23rd Chairman of ICPAK. She took over from FCPA Julius Mwatu who had served as ICPAK Chairman from June 2017-9th June 2019.
The amended Accountant’s Act sought to strengthen the accounting profession by enhancing the definition of who can practice as an accountant; introduction of a Trainee Accountant membership category for students pursuing Accountancy examinations administered by kasneb; empowering the Cabinet Secretary, National Treasury to prescribe a Remuneration Order on the advice of ICPAK Council; and enhancement of penalties among other key elements.