The Institute of Certified Public Accountants of Kenya (ICPAK) was established in 1978 under the Accountants Act to regulate and promote the accountancy profession in Kenya. ICPAK is a member of the Pan-African Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC).
As a corporate body, ICPAK has the legal authority to:
✔ Sue and be sued in its corporate name.
✔ Hold, acquire, develop, and dispose of property (both movable and immovable).
✔ Raise funds through borrowing, lending, or investments (subject to approval from the Cabinet Secretary for Finance).
🔹 Key Functions of ICPAK
1️⃣ Promoting Professional Standards
✔ Ensures high standards of competence and ethical practice among its members.
2️⃣ Enhancing Research & Publications
✔ Supports research in accounting, finance, and related fields.
✔ Encourages the publication of books, periodicals, journals, and articles on accounting and finance.
3️⃣ Promoting International Recognition
✔ Works towards global recognition of Kenyan accounting professionals.
✔ Aligns Kenya’s accountancy profession with international standards.
4️⃣ Advising KASNEB
✔ Provides input to the Kenya Accountants and Secretaries National Examinations Board (KASNEB) on examination standards and policies.
5️⃣ Advising the Government
✔ Offers policy recommendations to the Cabinet Secretary for Finance on financial accountability in both public and private sectors.
6️⃣ Regulating Accountancy Remuneration
✔ Establishes a remuneration order (salary structure) for accountants with approval from the Finance Cabinet Secretary.
7️⃣ Carrying Out Other Legal Mandates
✔ Implements any additional responsibilities assigned under the Accountants Act or other legal provisions.
8️⃣ Performing Incidental & Related Duties
✔ Engages in any other activities necessary to advance the accounting profession in Kenya.
🔹 Conclusion
ICPAK regulates, promotes, and protects the accounting profession in Kenya by ensuring high competency standards, financial accountability, and international recognition.
