Towards Becoming a CPA: Credibility, Professionalism, Accountability

1. Towards Becoming a CPA Credibility . Professionalism . AccountAbility

2. Who is ICPAK • ICPAK - regulatory body established under the Accountants Act, No. 15 of 2008 for the coordination of activities of qualified and registered CPAs and regulate the profession of accountancy in Kenya • Acts as the profession's mouthpiece in Kenya -holds membership in international accountancy organizations including: • International Federation of Accountants (IFAC) • Pan African Federation of Accountants (PAFA)

3. Who is ICPAK ? • VISION • “To be a globally recognized Professional Accountancy Institute” • MISSION • “To develop and regulate the accountancy profession in Kenya through; • Supporting the CPA to be recognized globally as Competent Professionals who Add Value whilst Serving and Protecting the Public Interest • Building Sustainable Institutional Capacity to provide that support” • CREDO: • Credibility: Professionalism; AccountAbility • CORE VALUES • Respect , Integrity, Professionalism, Team Work

4. What is our mandate? • To: • Promote standards of professional competence and practice amongst members of the Institute • Promote research into the subject of accountancy and finance and other related matters, and the publication of books, periodicals, journals and articles in connection therewith • Promote the international recognition of the CPA • Advise the examination board on matters relating to examination standards and policies • Advise the Minister on matters relating to financial accountability in all sectors of the economy

5. ICPAK Governance structure

6. Membership Our membership is drawn from accounting, finance and auditing professionals in all sectors of the economy Current active membership stands as below; • Total registered members – 13,752 • Total active members – 11,177 • We pride ourselves in being the 3rd largest accounting institute preceded by the Nigerian and South African institutes.

7. Who is an Accountant? Accountants Act No. 15of 2008,- an “accountant” is a person who has formal training in accountancy and is registered as a member of ICPAK. Professional accountants are categorized as creators, enablers, preservers, and reporters of sustainable value.

8. Becoming a CPA • Membership open to; • All qualified CPA graduates • Holders of foreign accountancy qualifications who have sat and passed local company law and Taxation

9. Categories of entry into membership Associate membership Full membership ICPAK Membership

10. Associate membership • Entry level for all CPA graduates who have less than 3 years of practical experience in company law, tax, accounting, or auditing as per IFAC’s International Education Standards (IES), to which ICPAK subscribes. • Members registered under this category referred to as Associate members • Associate membership is for a maximum of 3 years • Associate members access all member benefits except; • Use of the CPA designation • Voting rights • Election into Council or any of its Committees • Financial investment – Kshs. 2,500 application fee • Kshs. 2,000 per annum as annual subscription

11. Full Membership • Entry level for all CPA graduates who have experience of 3 years or more in local law, taxation, accounting or auditing as per the IES requirements. • Members under this category are referred to as CPAs. • Full membership has no time limit • CPAs access all member benefits • CPAs in good standing and with the sufficient audit experience can apply for practicing licenses. They may also be nominated and conferred with Honorary, Commendation or Fellowship. • Financial investment • Normal rate - Kshs. 26,000 application fee , Kshs 10,000 annual subscription • Discounted rate (from 19th January to 30th April 2015) – Kshs. 13,000 application fee, Kshs. 10,000 annual subscription

12. Requirements for Registration • A duly filled registration application. • Copies of all KASNEB result notifications/Certificates, KCSE /KCE certificate. • Copy of National ID. • 2 colored passport photos of the applicant. • Employment or Practical experience record for the last 3 years (By way of recommendation letters from the employer(s) • Proof of payment of applicable amounts payable to ICPAK

13. Approval process Submission of application to the Registration department Confirmation that application is complete and all required documents have been submitted as required Confirmation of applicant’s certificates with KASNEB Communication to applicant on approval of application and membership number Presentation of application to the Registration & Quality Assurance Committee for approval Issuance of membership certificate

14. Membership obligations • Our members are expected to be in good standing at all times. • Must have their subscriptions paid up in good time • Must have their CPD records up to date- members are required to have not less than 40 CPD hours annually • Must have no disciplinary charges against them

15. Benefits of membership • Being a member of ICPAK will help you stand out from the crowd whether it's through sharing knowledge, networking with the right people or providing practical advice, we help you take the next step: • Supporting you at every stage of your career: Wherever you are in your career, we help you develop the latest skills, learn more and you join the largest community of professional accountants. • Improving your performance and that of your organizations: Organizations benefit equally from well-trained up to date accountants who have access to the latest knowledge and techniques to deliver excellent results in their roles. • Keep your finger on the pulse: We know how important it is to keep up to date and continue learning throughout your career. However you want to learn, we are here to help. • Access to a world of resources with us: We offer a rich source of accounting and finance insights, practical advice, industry trends, research material in the field of accountancy and opportunities to meet like minded people.

16. Benefits of membership • Our Membership benefits are built on 5 pillars: • 1) Knowledge • CPD Express- our e-bulletin keeps you up to date with the CPD Calendar of events. • The Accountant - our publication brings you innovative articles from global experts. • The E-Connect – By-weekly e-bulleting rounds up essential news • Career Express – Around up of job opportunities available in the market. • Wealth of downloadable information in our website • 2) Support • Discounted rates on all our CPD events • Free professionallegal advice. • Exclusive discounts on all training courses at KCA University- 20% discount on all training courses at KCA University to the principal member, 10% to the spouse and 10% to two children • Exclusive rates on motor vehicle insurance (3.8% with Madison Insurance) • Exclusive discounts with Toyota Kenya (15% discount on service and parts respectively, 3.5% discount on purchase of vehicle) • An ICPAK Smart debit card - an international Visa Debit Card

17. Benefits of membership • 3) Network • Online Members' Directory - search or advertise. • Special interest and local groups to share ideas and network.- ICPAK Branches and chapters • Interact with like minded professionals at the branch and Special Interest Groups events. • 4) Growth – Keeping your finger on the pulse • CPD Programs – to enhance knowledge and skills • CPA status- Professional recognition • Job notification services.- For job seekers and employers • Opportunity to serve in ICPAK workgroups, taskforces, Committees or Council, as well as IFAC Boards • 5) Global Recognition • Member of International Federation of Accountants (IFAC) & Pan Africa Federation of Accountants (PAFA) • ICPAK has signed a Mutual Recognition Agreement with the East Africa Community Institutes • ICPAK has also entered into MOU with the Institute of Chartered Accountants of England and Wales (ICAEW) and the South African Institute of Chartered Accountants (SAICA) Kenya CPA’S can join ICAEW after satisfying the agreements stipulated in the MOUs

18. THE CPA HALL OF FAME • His Excellency Mwai Kibaki, former President – He was conferred with Honorary Fellowship to the Institute • FCPA Agnes Odhiambo – Controller of Budget • FCPA Edward Ouko – Auditor General • FCPA John Njiraini –Commissioner General, KRA • FCPA Martin OduorOtieno – Former ICPAK Chairman • CPA Bernard Ndungu- Director General, Accounting Services • FCPA Hon. Wycliffe Oparanya – GovenorKakamega County • CPA Hon. Billow Kerrow – Senator, Mandera County

19. END THANK YOU! Our Contacts: icpak@icpak.com memberservices@icpak.com www.icpak.com