Public sector excited over financial reporting awards

Over 200 public sector institutions have applied to participate in this year’s financial accountability awards, as regulators tighten the noose on financial statement reporting. The Public Sector Accounting Standards Board (PSASB) Chairman, Mr Bernard Ndung'u, also Director-General of Accounting Services at the National Treasury, said that the sector is excited about financial accountability. It comes after the PSASB joined the regulators of the FiRe Awards. The PSASB now works with The Institute of Certified Public Accountants of Kenya, the Capital Markets Authority and the Nairobi Securities Exchange, who are the main sponsors of the 2015 FiRe awards set for October 15, as they all gear to rein in on rising financial statement fraud.