ACCOUNTABILITY

Kenya to host regional financial awards

The annual awards recognises excellence in financial reporting and sound corporate governance

In Summary
  • Participation in the award has resulted in improved financial reports and disclosures through formal feedback from the evaluation panelists
: A Kenya Commercial Bank (KCB) Mtaani agent counts Kenya shilling notes on a money counting machine as she serves a client inside in the banking hall at the Kencom branch in Nairobi, Kenya July 10, 2018. REUTERS/Thomas Mukoya
: A Kenya Commercial Bank (KCB) Mtaani agent counts Kenya shilling notes on a money counting machine as she serves a client inside in the banking hall at the Kencom branch in Nairobi, Kenya July 10, 2018. REUTERS/Thomas Mukoya

Public sector entities have been urged to take part in the financial reporting awards scheduled for November to boost integrated reporting through enhancing accountability, transparency and integrity.

The annual awards recognises excellence in financial reporting, sound corporate governance practices and environmental reporting for both public and private sector entities within the larger East African region.

According to the Public Sector Accounting Standards Board (PSASB) chief executive officer Fredrick Riaga, participation in the award has resulted in improved financial reports and disclosures through formal feedback from the evaluation panelists.

“We have made the participation by public entities mandatory in a bid to encourage government organizations to embrace best practices in reporting and demonstrating good governance.

The award will culminate in a gala dinner hosted by Public-Sector Accounting Standards Board-Kenya (PSASB), the Capital Markets Authority (CMA) Kenya, the Institute of Certified Public Accountants of Kenya (ICPAK) and the Nairobi Securities Exchange (NSE).