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{
    "id": 196766,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/196766/?format=api",
    "text_counter": 184,
    "type": "speech",
    "speaker_name": "Mr. Chepkitony",
    "speaker_title": "",
    "speaker": {
        "id": 13,
        "legal_name": "Lucas Kipkosgei Chepkitony",
        "slug": "lucas-chepkitony"
    },
    "content": "Madam Temporary Deputy Speaker, I wish to support this very important Bill. It is only that the Minister did not give us copies of the Bill on time so that we could study it. However, I would like to congratulate him for seeing it fit to bring this Bill which is going to strengthen the functions and the smooth running of the different bodies which are being established for the sake of improving the accountancy profession. Accountants are very important in any organisation, be it the Government, schools, private businesses and so on. They assist in bringing order in expenditure and the way revenue is collected in institutions. In order for accountants to perform their duties well, they need to ensure that high standards are observed in every institution. There should also be high standards in the examining body to ensure that the examinations administered are proper. That way, the people who are being examined will perform according to the requirements of the job. The KASNEB, which is also being established under this Bill, plays a very important role in administering the various examinations, for example, the KATC, for institutions like the Central Bank of Kenya and so on. These exams are very important to those who have chosen accountancy as a profession. So, they must ensure that there are no leakages like was the case with the Kenya National Examinations Council (KNEC). This body must have proper management, people of integrity, people who are qualified and who can match what is happening in other parts of the world as far as accounting examinations are concerned. You will find many Kenyans doing an accounting exam called ACCA which is administered from the UK because, perhaps, they think that ours is inferior. However, that belief would not be there if KASNEB establishes and maintains the good standards required. I notice also that there is a disciplinary committee being established in this Bill. That is important for any profession. It should be able to discipline its members who are not performing according to the requirements of the profession. This is very important and it will ensure that accounting bodies do not embezzle customers' funds and that they will give fair assessments of companies in their audit reports. Auditing is a very important part of any organisation. This is done April 15, 2008 PARLIAMENTARY DEBATES 459 by accountants. In order for the accountants to give a fair report of institutions, they must be people of integrity. They must be people who can display high standards so that they are not compromised. They should give a fair report about organisations. For example, if an organisation wants to go public through an Initial Public Offer (IPO), people would expect accountants to present a proper state of affairs of that body so that when the public invest money in the organisation, they will be investing in an organisation whose true state of affairs is known. With those few remarks, I beg to support."
}