Adoption and Implementation of IPSAS

There is increasing demand for public accountability and transparency by all stakeholders in the Public Sector in Kenya. Frequent revelations during the Public Accounts Committee (PAC) hearing on the Auditor General’s reports raises issues of financial accountability and transparency.

In the past, financial reporting by the Kenya Government has largely been seen to be inadequate. The government ministries/bodies do not provide understandable financial reports, and on the contrary, the reports have been complex, confusing and voluminous. It doesn’t help that the basis of preparation of government financial reports; Government Financial Regulations and Procedures date back to 1989.

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