Kenya's private and public sector organisations have been urged to embrace International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) as tools to attract capital, boost investor confidence, and enhance global competitiveness.
Speaking during the official launch of the 24th edition of the Financial Reporting (FiRe) Award in Nairobi, key sector regulators reaffirmed their commitment to promoting transparency, accountability, and comparability through internationally recognised financial reporting frameworks.
The event in Nairobi brought together executives from the Capital Markets Authority (CMA), Institute of Certified Public Accountants of Kenya (Icpak), Nairobi Securities Exchange (NSE), Retirement Benefits Authority (RBA), and the Public Sector Accounting Standards Board (PSASB).
Icpak CEO and FiRe Award Executive Committee chairperson Grace Kamau emphasised that financial reporting is no longer a procedural formality but a strategic requirement for integrity and public trust.
