Institute of Certified Public Accountants of Kenya

The Institute of Certified Public Accountants of Kenya (ICPAK) has direct responsibility for the establishment and implementation of the quality assurance (QA) review system and continues to maintain an operational framework for monitoring audit quality in the jurisdiction. The Institute supports members through mandatory training on audit quality assurance, quality management, inspection readiness, and remedial actions. ICPAK also provides implementation tools and technical resources, including audit software, illustrative financial statements, and continuing professional development activities covering audit quality assurance, International Standards on Auditing, ethics, and audit practice. In addition, ICPAK continues to monitor and communicate review findings through consolidated Audit Quality Review reporting. With the adoption of International Standards on Quality Management 1 and 2 and the Institute’s ongoing support for implementation, the assessment of Sustain remains appropriate.

Current Status: Sustain

The Institute of Certified Public Accountants of Kenya (ICPAK) shares responsibility for the education and training of professional accountants with the Kenya Accountants and Secretaries National Examinations Board (KASNEB). The Institute continues to collaborate with KASNEB to strengthen initial professional development and independently establishes, monitors, and enforces continuing professional development (CPD) requirements for its members.

Both ICPAK and KASNEB state that the professional accountancy curriculum and examinations are aligned with the International Education Standards (IES). In 2021–2022, ICPAK jointly with KASNEB undertook a comprehensive review of the structure and content of the professional education program, which resulted in the revised Certified Public Accountant syllabus effective 1 July 2022. The revised syllabus incorporated updates to International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA), International Public Sector Accounting Standards (IPSAS), and ethics standards; introduced a mandatory pre-qualification workshop on ethics and emerging issues; added a practical paper on data analytics; enhanced the practical experience requirements; and expanded the use of computer-based examinations.

ICPAK has also continued to strengthen practical experience requirements through the Trainee Accountant Practical Experience Framework developed with support from the World Bank Institutional Development Fund. The Institute has undertaken stakeholder consultations with KASNEB, employers, and government stakeholders and has piloted the framework with trainee accountants and supervisors. ICPAK continues to support trainees through work simulation workshops and is progressing initiatives related to accreditation of supervisors and firms, employer sign-off requirements, and automation of trainee experience logs.

With respect to continuing professional development, ICPAK maintains mandatory CPD requirements aligned with the latest IES and continues to audit compliance. Recent activities include the rollout of an enhanced digital learning platform, expanded e-learning courses, professional certifications, webinars, and virtual learning delivery. ICPAK’s current CPD portal and annual learning calendar continue to demonstrate strong support for members’ ongoing competence development. (icpak.com)

Given the Institute’s well-established and ongoing processes to support both initial and continuing professional development, including periodic curriculum reviews, practical experience frameworks, and CPD monitoring, the assessment of Sustain remains appropriate.

Current Status: Sustain

The Institute of Certified Public Accountants of Kenya (ICPAK) has direct responsibility for auditing standards and has adopted International Standards on Auditing (ISA) as issued by the International Auditing and Assurance Standards Board without modifications, including effective dates. Accordingly, the Institute’s focus continues to be on supporting implementation of the standards and promoting consistent application across the profession.

ICPAK continues to raise member awareness and knowledge of the standards through a range of ongoing activities. These include notifying members of new and revised standards and related guidance materials through circulars, newsletters, journals, and technical updates; incorporating developments from International Auditing and Assurance Standards Board exposure drafts and discussion papers into continuing professional development (CPD) programs; responding to technical queries on the application of standards; and organizing forums, workshops, and technical trainings for practitioners.

The Institute continues to place particular emphasis on supporting small and medium practices and audits of small and medium entities. To this end, ICPAK provides practical implementation support through audit manuals, model audit files, self-review tools, illustrative documentation, and training resources. Recent training activities include dedicated courses on audit practical skills, audit quality assurance, and International Standard on Auditing for Audits of Financial Statements of Less Complex Entities.

ICPAK has also actively supported implementation of International Standards on Quality Management 1 and 2 through workshops, mandatory quality assurance trainings, and inspection-readiness sessions for practising members. These activities further support compliance with auditing and quality management standards at firm and engagement level.

In addition, ICPAK continues to participate in the international standard-setting process by circulating International Auditing and Assurance Standards Board exposure drafts to members for comment and submitting consolidated responses. The Institute has recently engaged members on the proposed standard for audits of less complex entities and other international developments.

Given the Institute’s well-established processes for implementation support, member awareness, technical guidance, and participation in international standard-setting, the assessment of Sustain remains appropriate.

Current Status: Sustain

The Institute of Certified Public Accountants of Kenya (ICPAK) first adopted the 2009 International Ethics Standards Board for Accountants (IESBA) Code of Ethics as the ICPAK Code of Ethics and has continuously updated it to incorporate new and revised requirements issued by the IESBA. Accordingly, the Institute requires its members to comply with the latest version of the International Code of Ethics for Professional Accountants (including International Independence Standards), and recent Institute requirements indicate that the 2025 edition is in use.

ICPAK continues to support effective implementation of the Code through a combination of awareness raising, continuing professional development, and compliance monitoring. The Institute’s annual continuing professional development calendar includes regular training sessions on ethics, professional conduct, independence, conflict of interest, fraud, and responding to non-compliance with laws and regulations. Recent ethics-related learning activities continue to incorporate developments issued by the International Ethics Standards Board for Accountants and relevant national legal and regulatory requirements. (icpak.com)

In addition to technical training, ICPAK has strengthened its member compliance framework. Effective 1 July 2025, the Institute introduced a mandatory professional ethics and compliance test for members seeking certificates of good standing, based on the latest International Ethics Standards Board for Accountants Code. This initiative further reinforces awareness and practical application of ethical requirements across the membership.

The Institute also continues to promote ethics awareness beyond the profession through stakeholder engagement and educational outreach to the broader business community and other key stakeholders. Ethics-related topics continue to feature prominently in the Institute’s professional development programming and regional events.

Given ICPAK’s well-established and ongoing processes to maintain alignment with the latest Code and to support members in its implementation, the assessment of Sustain remains appropriate.

Current Status: Sustain

The Public Sector Accounting Standards Board (PSASB) is responsible for adopting public sector accounting standards in Kenya. The Board has adopted International Public Sector Accounting Standards (IPSAS) issued by the International Public Sector Accounting Standards Board for application across public sector entities. The Institute of Certified Public Accountants of Kenya (ICPAK) continues to use its best endeavors to support the adoption and implementation of IPSAS in the jurisdiction.

ICPAK supports public sector standard-setting and implementation through its representation on the Public Sector Accounting Standards Board, whose membership includes Institute members. Through this representation, the Institute continues to promote the adoption of IPSAS and provide technical support throughout the implementation process.

ICPAK continues to work closely with the Public Sector Accounting Standards Board to strengthen IPSAS implementation. This includes supporting the development and dissemination of financial reporting templates aligned with IPSAS for national government entities, county governments, state corporations, and other public sector bodies. Current Public Sector Accounting Standards Board templates and handbooks for 2024–2025 confirm continued progress in accrual-based IPSAS implementation across the public sector.

The Institute also continues to build technical capacity among finance staff in the public sector, many of whom are members of ICPAK, through dedicated continuing professional development programs, public sector reporting workshops, technical guidance materials, and gap analysis reports related to compliance with the reporting templates and applicable standards.

ICPAK continues to encourage and monitor implementation through its Financial Reporting Awards, which include recognition for public sector reporting and IPSAS compliance. In addition, the Institute informs members and key stakeholders of developments issued by the International Public Sector Accounting Standards Board through newsletters, technical updates, and continuing professional development activities.

The Institute’s Public Sector Sub Committee, established in 2022, continues to advise on implementation issues related to public sector reporting standards and to provide feedback on international exposure drafts and Kenyan public sector issues for consideration by the International Public Sector Accounting Standards Board.

Given ICPAK’s well-established and ongoing processes to support adoption, implementation, technical capacity building, and participation in international standard-setting, the assessment of Sustain remains appropriate.

Current Status: Sustain

In line with its mandate under the Accountants Act, 2008, the Institute of Certified Public Accountants of Kenya (ICPAK) has established an operational investigative and disciplinary framework for its members. The Disciplinary Committee continues to be responsible for disciplinary inquiries and sanctions, while the Registration Committee undertakes investigation and evidence-gathering functions under the statutory framework.

ICPAK continues to focus on strengthening alignment with Statement of Membership Obligations 6 requirements. In particular, the Institute has previously identified the need to establish a separate Investigations Committee and an independent Appeals Committee to strengthen the independence of the investigative and appeals processes. Based on the current legal framework, these enhancements still require further legislative amendments to the Accountants Act. The Institute has previously indicated that proposals for such amendments have been submitted to Parliament, although no enacted amendments were identified from current authoritative sources.

To support implementation, ICPAK continues to provide member training on ethical requirements, professional misconduct, and the investigative and disciplinary process through its continuing professional development programs and ethics workshops. The Institute has also strengthened awareness efforts aimed at both members and the public, including training on professional conduct and guidance on complaint procedures.

ICPAK continues to review the effectiveness of its investigative and disciplinary processes and has identified areas for further improvement, including follow-up procedures for suspended members, re-training and re-admission processes, and public awareness of complaint and disciplinary mechanisms.

The Institute is executing actions to strengthen the investigative and disciplinary framework; however, important jurisdiction-level gaps remain in relation to the independence of the investigation and appeals functions.

ICPAK should continue to prioritize legislative amendments to establish an independent investigations function and an independent appeals mechanism, in line with Statement of Membership Obligations 6 requirements. Strengthening these structural elements at the jurisdiction level would further enhance public confidence in the profession and support closer alignment with international best practice.

Current Status: Execute

The Institute of Certified Public Accountants of Kenya (ICPAK) has direct responsibility for accounting standards in the jurisdiction and has adopted International Financial Reporting Standards (IFRS) Accounting Standards and the IFRS for SMEs Accounting Standard for application in Kenya. The Institute continues to maintain well-established processes to support the implementation and ongoing application of these standards.

In addition to its standard-setting responsibilities, ICPAK continues to support members’ implementation and compliance with IFRS through annual technical workshops, continuing professional development programs, webinars, and technical updates focused on both full IFRS and the IFRS for SMEs Accounting Standard. These activities continue to address newly issued and revised standards as well as practical implementation issues faced by members.

The Institute also continues to assess implementation challenges through feedback mechanisms, including post-training surveys and technical consultations with members. Based on feedback received, ICPAK develops guidance materials, technical alerts, and training content to address common application issues and emerging developments in financial reporting.

In addition, ICPAK continues to promote high-quality financial reporting through its annual Financial Reporting Awards (FiRe), which recognize excellence in financial reporting and encourage compliance with IFRS requirements across the corporate and public sectors. The awards continue to serve as an important mechanism for raising awareness and encouraging best practice in financial reporting.

ICPAK also remains actively engaged in the international standard-setting process by circulating International Accounting Standards Board exposure drafts to members and stakeholders for comment and submitting consolidated responses. The Institute has continued to participate in consultations relating to revisions to the IFRS for SMEs Accounting Standard and other significant proposed amendments to IFRS Accounting Standards.

Given ICPAK’s well-established and ongoing processes to support adoption, implementation, member awareness, and participation in international standard-setting, the assessment of Sustain remains appropriate.

Current Status: Sustain