Lobby raises red flag on accounting malpractice

Icpak national chairman Fernandes Barasa. FILE PHOTO | NMG

The Institute of Certified Public Accountants of Kenya (Icpak) has raised the alarm over a rise in misconduct among accountants.

Icpak national chairman Fernandes Barasa said some accountants had been engaging in malpractices, including corruption and bribery, giving the profession a bad reputation.

He noted that majority of those implicated are quacks and that “a few” of their implicated members were under investigations. The Institute, he said, was working with the Ethics and Anti-Corruption Commission to prosecute those implicated in corruption.

He added that Icpak would soon crack down on dishonest members after strengthening its disciplinary committee.

“Any accountant found engaging in corruption or receiving bribes will face disciplinary action,” warned Mr Barasa.

He spoke at Sarova Whitesands Beach Resort in Mombasa, during the 33rd Icpak annual seminar.