CS John Mbadi Urges Accountants to Drive Tax Reforms and Transparency as Economy Stabilizes

 

Image ; Cabinet Secretary for Finance and National Treasury, John Mbadi

The Cabinet Secretary for Finance and National Treasury, John Mbadi, has called on accountants in the country to play a pivotal role in assisting with the passage and implementation of legislative reforms aimed at regulating the country’s tax systems. Speaking at the 41st session of the Institute of Certified Public Accountants of Kenya (ICPAK) conference, held in Mombasa, Mbadi emphasized the crucial role that accountants must take in shaping policies that ensure fairness and transparency in Kenya’s tax regime.

“We rely on you to take responsibility in the proper execution of your professional duties, especially in matters relating to financial accountability. Your role in ensuring the passage and implementation of tax reforms is essential as we continue to shape a fairer, more transparent financial system,” Mbadi remarked, urging accountants to uphold the highest standards of professionalism and integrity in their practice.

At the same conference, Kimani Ichung’wah, the Majority Leader in the National Assembly, underscored the need for cooperation among leaders to improve the functioning of government institutions. He appealed to both government officials and professionals to work collaboratively to simplify and streamline their operations, facilitating the smoother execution of their respective mandates.

Image; Kimani Ichung’wah, the Majority Leader 

However, Ichung’wah also highlighted a critical need for increased investment in the Ministry of Finance to boost its capacity and improve its efficiency. "For the country to fully benefit from these reforms, we must ensure that our financial institutions are adequately supported and equipped to manage these systems effectively," he stated.

Beyond policy discussions, Mbadi also took the opportunity to reassure the Kenyan public about the country’s economic recovery. With ongoing challenges facing the economy, Mbadi encouraged patience, emphasizing that progress is being made, albeit gradually. “The economy is slowly stabilizing. and the bank rates is also going down. I urge Kenyans to remain patient as the government works tirelessly to restore and strengthen our financial systems for long-term prosperity,” said Mbadi, offering hope to the public amid ongoing financial pressures.

The remarks from both leaders were made during the second phase of the ICPAK conference, which brought together accountants and financial experts from across the country to discuss key issues affecting the profession and the nation’s financial sector.

As the country moves forward with its financial reforms, both Mbadi and Ichung’wah’s statements reflect a strong call for greater collaboration and transparency, key elements in driving economic recovery and ensuring fairness in tax and financial management. The ongoing support of the accounting profession will be pivotal in achieving these goals, positioning them at the forefront of Kenya’s fiscal future.