Chief Justice Martha Koome on Wednesday urged accountants to be whistleblowers in their places of work to aid the fight against corruption.
She said accountants play a crucial role as they are the professionals vested with the mandate of guaranteeing the quality of financial reporting both in the private and public sectors.
Corruption has devastating effects, including poor service delivery, economic retardation, political instability, low investor confidence and lack of equity and inclusiveness.
“You can also be whistleblowers or secure in your workplaces credible whistleblowing systems to disrupt intended acts of corruption before they occur. Wherever you are working, you can inculcate a culture that respects the rule of law by embracing good governance and accountability,” Koome said.
She was speaking in Mombasa when she officially opened the 38th Annual Seminar of the Institute of Certified Public Accountants of Kenya (Icpak) at Whitesands Hotel, Mombasa.
The theme of this year’s seminar is 'Disruption and Uncertainty- Positioning Professionals as change agents in a dynamic environment'.
Koome said accountants should be custodians of the integrity of financial reporting. She said the duty of accountants in society is to protect the public interest and live by the ethical standards put in place to guide their professional conduct.
“Be bold and courageous. An example that illustrates this point that easily comes to mind is the celebrated tenure of Edward Ouko as the Auditor-General of the Republic of Kenya. The trend he set is continuing with the current holder of the office,” she said.
The CJ stated that corruption does not happen by accident but is mainly driven by individuals, systems, or situations that present an opportunity. She said graft is orchestrated through abuse or sabotage of systems, especially in the public sector.
Koome said one way through which the country can raise the standards of corporate governance and bring back public trust is by restoring trust in financial data.
Accountants are expected to make a professional judgement that protects the public interest and trust in financial information.
“This can be done when accountants uphold values that are dear to the accounting profession like integrity, objectivity, professional competence, due care, and expected professional behaviour at all times.
"Moreover, to serve as a ‘change agent’, a professional must operate within the set professional values and ethics at all times, including when making critical decisions,” she said.
Koome said the accountancy profession, as a core subset of financial management, is critical in enhancing accountability and prudent management of public resources.
She proposed a closer partnership with Icpak in the different spheres of justice dispensation, including enhancing alternative dispute resolution mechanisms, calling on them to actively participate in mediation processes to tap into their expertise for the success of the mediation process.
“The nature and orientation of some of the technical issues involved require the expertise of accountancy professionals as they represent their clients as tax representatives, advisors, or auditors,” she said.
