Accountants are seeking to review the law governing them to ensure that every person practising the profession is a member of the group.
A planned amendment to the Accountants Act that was enacted in 2008, will bring all accountants in the country under the Institute of Certified Public Accountants (ICPAK).
“Further, any person wishing to provide accountancy services must also be a member of the institute,” said ICPAK chairman Benson Okundi in a special announcement last week.
It will also seek for a re-classification of institute membership, creating a new category for students and technicians to eliminate incidents of illegal practitioners.
ICPAK vice chair Rosemary Gituma said profession had been ambiguously defined to include book-keeping, financial accounting, auditing, forensic auditing, taxation and financial management.
She said companies and institutions should consider outsourcing accounting services in major projects instead of solely relying on in-house staff.
This will lead to faster implementation of projects as in-house accountants are relieved of the responsibility of managing financial aspects of special projects besides running their normal duties.
She said currently, most firms outsource project managers, quantity surveyors, architects and engineers even when such professionals are within the organisation but overlook the aspect of outsourcing financial expertise.
