April 06 2015 0Comment
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Unregistered accountants face big fines and jail terms

Thousands of people working as accountants without the required professional registration now face hefty fines and jail terms following the coming into force of a new law regulating the practice.

According to the Business Daily News, the Institute of Certified Public Accountants of Kenya (ICPAK) says the law, which is intended to rid the industry of quacks, is the product of amendments to the Accountants Act Number 15 of 2008.

The amendments, which came into force with the signing into law of the Finance Act 2018, are intended to strengthen the accounting profession and make it part of the instruments Kenya can use in the ongoing fight against theft and wastage of public funds.

In a press statement released Tuesday, ICPAK promised to be firm in the fight against rogue practitioners, whose work has given the profession a bad name, including those illegally using the “Certified Public Accountant (CPA)” designation.


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