ICPAK calls on adoption of accounting to curb cases of corruption, deal with pending bills

The Institute of Certified Public Accountants of Kenya (ICPAK) has urged the Senate to push for law to adopt a new accounting basis dubbed ‘accrual accounting’ that will strengthen Public Finance Management (PFM) and International Public Sector Accounting Systems (IPSAS) for economic growth.

ICPAK chairman George Mokua said the new system of accounting will end issues arising at county level more so loss of county assets and increasing pending bill.