Shaping the Future
On October 16, 2024, the Institute of Certified Public Accountants of Kenya – ICPAK launched an ambitious five year Strategic Plan for 2025-2029.
The strategy was anchored on four key pillars: Accountancy Development and Regulation, Member Value, Public Interest, and Sustainability.
During the Launch, ICPAK Chairman, CPA Philip Kakai, declared that “This strategic plan will not only guide us in strengthening the profession but will also ensure that ICPAK members are wellprepared for the evolving landscape.”
The Plan aims to strengthen ICPAK’s core mandate as the regulator of Kenya’s accountancy profession and sharpen its strategic focus. The delivery of this plan will require human resources that are well-facilitated with the tools and a conducive work environment that will foster performance. During the consultative phase in developing and settling on the strategic direction that
the Institute has settled on, there were roles and positions that were identified that will be key in the team.
The strategic plan includes situational analysis, strategic direction (2025-2029), implementation and coordination framework, monitoring, evaluation, as well as reporting and learning.
The event which took place at the Safari Park Hotel in Nairobi, attracted key government officials, CEOs from various organizations, members of the ICPAK Council, FCPAs, ICPAK Secretariat, numerous stakeholders, and institute members, with a huge virtual audience also in attendance.
ICPAK Chairman, CPA Philip Kakai outlines ICPAK’S Strategic Plan
In his opening remarks, ICPAK Chairman, CPA Philip Kakai stated that the new Strategic Plan focuses on Advancing Accountancy Development, Enhancing Member Value, Promoting
Public Interest, And Fostering Sustainability.
It also ensures that ICPAK remains at the forefront of professional excellence and advocates for ethical practices and sustainable growth.
CPA Kakai presented a vision that emphasizes adapting to global challenges and evolving industry demands; The report also demonstrates a commitment to strengthening regulatory frameworks, improving professional development, and aligning educational standards with international benchmarks.
ICPAK, notes CPA Kakai, aims to deliver enhanced services to members, providing the necessary tools and support throughout their careers. A greater focus on advocacy, community engagement, and environmental sustainability accentuates ICPAK’s dedication to its members and the public.
With these initiatives, the 2025-2029 report sets ambitious goals to maintain the profession’s relevance in a changing
world within organizations. CPA Kakai expounded what the public and members can expect from the Strategic Plan and the Institute’s intended actions.
He pointed out that each of the following pillars strengthens the others, creating an integrated framework for professional growth and excellence over the next five years;
Accountancy Development and Regulation
Strengthening Standards: ICPAK continues to participate in developing and implementing accounting and auditing standards that comply with international frameworks issued by various international accounting bodies, such as IFAC, IFRS Foundation, IASB, and ISSB.
