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GAE 2012 Kenya Country Characteristics of Kenya Total population (millions) 44.0 (N/A) GDP per capita (USD) Business language Legal system Economic position 1,800 (2012) (ranked 198 in the world) English Mixed Factor driven Regional affiliations Commonwealth, UNCTAD Accountancy Profession in Kenya Institute of Certified Public Accountants of Kenya (ICPAK) IFAC membership Full member Affiliations Pan African Federation of Accountants (PAFA) Part I (2005), part II (2006), part III (2011) IFAC compliance information Qualification Certified Public Accountant (CPA) Address P.O. Box 59963-00200, CPA Center, Ruaraka, Thika road Nairobi, Kenya Tel: (+254-20) 8562011, Fax: +254-20-8562206 [email protected], www.icpak.com (English) Recognition ICPAK has signed an MoU with the ICAEW about partial recognition of qualifications Accountancy Education in Kenya The Accountants Act that regulates the accountancy profession also established a separate body for the accountancy professional examination. Kenya Accountants and Secretaries National Examinations Board (KASNEB) was established as a statutory body for administering examinations for persons intending to qualify or register as accountants and company secretaries. The bulk of its student membership in Kenya comprises those pursuing accountancy either at the technician level or as fully certified public accountant (CPA). Candidates to the profession are required to complete three modules of the professional accountancy education program and pass a series of exams in order to obtain a license from the Registration & Quality Assurance Committee and become members of ICPAK. ICPAK has also established CPD requirements that are consistent with IES 7 to ensure and maintain professional competence among the members. The overall responsibility for this area lies with the Director of Professional Services. The Institute develops a schedule of CPD events for the whole year based on the review and feedback received from members in the previous year as well as the requirements of IES 7. Characteristics of Accountancy Education Certification Requirements Program of professional accountancy education Practical experience requirement Final assessment of professional capabilities CPD Providers of Professional Education Professional accountancy organization and universities Responsibility for Education Government with the profession Requirements Licensing Requirements for Auditors Academic study, practical experience and CPD Compliance with International Education Standards Level of compliance with IES Adoption Implementation Not available Not available Personal Development Not available Not available Professional Accountancy Education Not available Not available Professional Development Not available Not available Competence for Audit Professional Sub-Pillar Scores - Kenya Personal Development 1,00 0,80 0,60 0,40 Competence for Audit Professionals 0,20 0,00 Professional Accountancy Education Professional Development Adoption Implementation