Accountants in the public sector are set to benefit from a six-month training programme of global audit firm KPMG on international financial reporting standards.
KPMG East Africa and the Association of Chartered Certified Accountants (ACCA) – the global body for professional accountants—will offer certification in International Public Sector Accounting Standards (IPSAS) upon successful completion of the course.
“Participants will be taken through various topics and at the end of each week sit for an online test. If you fail to qualify within six months, you register again,” said KPMG East Africa chief executive Josphat Mwaura.
“We are looking at the accountants in the civil service, state corporations, regulatory bodies and county governments.”
The promoters said the training is aimed at rescuing the public financial management, both at the national and county levels.
Mr Mwaura said a well equipped team with a clear understanding of public sector accounting standards enhances professionalism and accountability in budget reporting and execution process.
“We want to standardise accounting profession in the public sector so that we can have consistent practice across, and secondly, equip individuals with skills to enable them provide necessary oversight roles within the public sector,” said Mr Mwaura.
ACCA global President Brian McEnery said the initiative is strategic for Kenya due to its position and influence on regional and international economy.
Currently, the Public Sector Accounting Standards Board of Kenya is mandated to prescribe standards for over 600 public sector entities.