Roles of the accounting officer kenya

It shall be a body corporate with perpetual succession and a common seal. For purposes of the first general elections under the Constitution, the Independent Electoral and Boundaries Commission shall ensure that each county comprises at least fifteen 15 Wards. IEBC shall review the names and boundaries of Wards at intervals of not less than eight years and not more than twelve years.

Roles of the accounting officer kenya

Get the latest news delivered to your inbox. When asked what accountants do, responses often mention roles such as tax agents and independent auditors. The functions performed by the vast number of professional accountants who work in businesses are often forgotten and not well understood.

What do the independent director, the internal auditor and the chief financial officer of companies all have in common? The individuals in these positions could all be professional accountants working in businesses. Besides these roles, professional accountants take on a vast array of other roles in businesses of all sorts including in the public sector, not-for-profit sector, regulatory or professional bodies, and academia.

Their wide ranging work and experience find commonality in one aspect — their knowledge of accounting. The importance of the role of professional accountants in business in ensuring the quality of financial reporting cannot be overly emphasized.

Professional accountants in business often find themselves being at the frontline of safeguarding the integrity of financial reporting.

Management is responsible for the financial information produced by the company. As such, professional accountants in businesses therefore have the task of defending the quality of financial reporting right at the source where the numbers and figures are produced!

Like their counterparts in taxation or auditing, professional accountants in business play important roles that contribute to the overall stability and progress of society. Without public understanding of all these diverging roles and responsibilities of different accounting specialists working in business, public perceptions of their value may be misinformed.

Roles of Professional Accountants in Business A competent professional accountant in business is an invaluable asset to the company.

Using their skills and intimate understanding of the company and the environment in which it operates, professional accountants in business ask challenging questions. Their training in accounting enables them to adopt a pragmatic and objective approach to solving issues.

Roles of the accounting officer kenya

This is a valuable asset to management, particularly in small and medium enterprises where the professional accountants are often the only professionally qualified members of staff. Accountancy professionals in business assist with corporate strategy, provide advice and help businesses to reduce costs, improve their top line and mitigate risks.

As board directors, professional accountants in business represent the interest of the owners of the company i.

Their roles ordinarily include: This includes creating and driving the strategic direction of the business to analyzing, creating and communicating financial information.

Roles of the accounting officer kenya

They also offer advice on areas for enhancements. In the public sector, professional accountants in government shape fiscal policies that had far-reaching impacts on the lives of many.

Accountants in academia are tasked with the important role of imparting the knowledge, skills and ethical underpinnings of the profession to the next generation.

Protectors of Public Interest A description of the multifaceted role of professional accountants in business is not complete without discussing the duty that the profession owes to the general public. As a profession that has been bestowed a privileged position in society, the accountancy profession as a whole deals with a wide range of issues that has a public interest angle.

In the case of professional accountants in business, not only must they maintain high standards but they also have a key role to play in helping organizations to act ethically.

Closely link to the protection of public interest is the notion that public accountants need to be trusted to provide public value. Accountants will lose their legitimacy as protectors of public interest if there is no public trust.

The Role and Functions of The National Treasury in Kenya

The accountancy profession has wide reach in society and in global capital markets. In the most basic way, confidence in the financial data produced by professionals in businesses forms the core of public trust and public value.FIRST SCHEDULE Existing appointments as accounting officer, etc.

FIRST SCHEDULE Discipline and reporting - past acts. This Act may be cited as the Government Financial Management Act, and shall come into operation on 1st November, 2 - Definitions.

2. In this Act, unless the context otherwise requires - Commission of Kenya. A constitution is the supreme law of the land that organizes and manages governance and state power. It defines, distributes and constrains the use of state power and provides a power map for the construction of the society and the running the affairs of state.

Jun 29,  · An accounting officer provides supervision of accounting operations within a business through budget reviews, financial analysis and and reports to senior management. The officer manages the general and subsidiary financial accounts of the business and provides quarterly and annual reports.

Accounting Officer Role What is the role of the Accounting Officer? An Accounting Officer is a person who controls and is personally accountable to Parliament for the regularity and propriety for all resources wholly funded through the Consolidated Fund. This Act may be cited as the Public Procurement and Asset Disposal Act, This Guide for Accounting Officers is the main guide in a series of publications designed to help accounting officer is then responsible for implementing and managing the budget. In addition, the traditional ‘micro-control by the Treasury’ approach is.

Roles of the Accounting Officer-Kenya Essay Discuss roles, challenges and recommendations of the accounting officer independent of the committees.

We make reference to both the Harambee Sacco and Ministry of Water and Irrigation procurement reviews Definition Accounting officer means a) for a public entity other than a local authority, the.

Home › About IFAC › News & Events › Roles and Importance of Professional Accountants in Business. and determining management’s compensation. As chief financial officers, professional accountants have oversight over all matters relating to the company’s financial health.

The Role of Professional Accounting Bodies in Promoting. The National Treasury in Kenya is one of the departments of the government of Kenya. In summary, the role of The National Treasury in Kenya is to manage national economic policy, prepare the government's annual budget, and manage the national government's public finances.

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