The CBK on October 28, 2016 bagged two Awards during the 2016 FiRe Award ceremony held at the Windsor Hotel, Nairobi. CBK scooped the top position in the International Financial Reporting Standards (IFRS) – Public Sector Entities category and was runner up in the State Corporations & Semi-Autonomous Government Agencies (SAGA’s) category.
The Financial Reporting (FiRe) Award is a prestigious and coveted Award in East Africa for financial reporting. The Award seeks to promote integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting frameworks and other disclosures on governance, social and environmental reporting by private and public sector organizations domiciled in East Africa. The annual Award is organized by the Public Sector Accounting Standards Board (PSASB), the Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), and the Institute of Certified Public Accountants of Kenya (ICPAK).
This year’s competition witnessed increased participation by public sector entities, with a total of 303 public sector organizations participating. These included Government Ministries, Departments and Agencies, State Corporations, Semi-Autonomous Government Agencies, and the County Governments. In addition, there were 96 entries in the financial services, industrial, commercial and services sector, public benefits organizations, pension schemes and learning institutions from East Africa.
