Accountants body seeks management change of KQ
The Institute of Certified Public Accountants of Kenya national Vice-Chairman Julius Mwatu during a press conference at Whitesands Beach Hotel in Mombasa on October 12, 2016. It has backed changes at the Kenya Airways management. PHOTO | WACHIRA MWANGI | NATION MEDIA GROUP
What you need to know:
- However, he cautioned that a change of guard might not necessarily bring the desired change of stopping the downward spiral of loss-making.
- Mr Mwatu warned members of the institute against aiding corruption saying they will be reported to relevant authorities.
The Institute of Certified Public Accountants of Kenya (ICPAK) has called for changes at the Kenya Airways management.
Mr Ngunze is a member of the institute.
Speaking during a press conference at Whitesands Beach Hotel in Mombasa on Wednesday, national Vice-Chairman Julius Mwatu said the problems at Kenya’s national career were a result of decisions made earlier.
“The problems being experienced at KQ today are a result of decisions made several years ago. But a new management, fresh blood and ideas would be welcome,” he said.
However, he cautioned that a change of guard might not necessarily bring the desired change of stopping the downward spiral of loss-making.
“We support positive change. But of more importance would also be for the Board of Directors to thoroughly scrutinize the situation to establish, without doubt, whether the CEO is the sole problem then chart the way out of the mess,” he said.
He said that ICPAK supports a government bailout of the ailing airline.
“The government should come in with the second bailout package and never let the giant corporation sink. KQ has built a name and a brand over the years and if it is left to collapse, another player will come to occupy that space,” he added.
Mr Mwatu warned members of the institute against aiding corruption saying they will be reported to relevant authorities.
"Amidst many claims of corruption in many organisations, both private and public, we want to warn our members against engaging in such acts. We want to protect the good name of our institute, and our disciplinary committee will not hesitate to take action against any of them involved in the vice," he said.
He suggested that more professionals should be appointed to manage public institutions, arguing that they are in a better position to deliver.
“More professionals are needed to manage public bodies and to bring cohesion in the management of funds,” he said.
He was accompanied by the Chief Executive Officer Patrick Ngumi and other senior officials.
