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Kenyan accountants will access jobs in the United Kingdom without having to undergo further training under a deal signed last week by professional bodies of the two countries to ease labour exchange.
The pact signed between Institute of Certified Public Accountants of Kenya and the Institute of Chartered Accountants in England and Wales (ICAEW) will see two professional bodies recognise each other’s certificates.
That means a certified public accountant from Kenya applying for a job in England and Wales will compete for same job grades and perks with domestic workforce.
At the moment a Kenyan can only practice as an accountant in the UK after attaining the ICAEW qualification.
“ICPAK is delighted to be working with ICAEW to ensure that we offer the highest international recognition and opportunities for our members in Kenya and around the world.” ICPAK chief executive Patrick Ngumi said.
Dr Ngumi added: “It is a demonstration that ICPAK’s qualification framework has come of age and meets the international benchmarks.”
The deal signed on Wednesday last week comes four years after the two professional bodies signed a Memorandum of Understanding to start working more closely together to enable their members join either of the associations as full members.
Cephas Osoro, the head of commercial services at Horwath Erastus & Co based in Nairobi became the first certified public accountant to join ICAEW in 2015.
“It means I can be both an active part of the fast-growing East African profession, as well as gain recognition in UK and further afield. As the business world becomes increasingly global, I feel this is a real advantage, “Mr Osoro said in a statement last week.
The partnership comes at a time when labour markets are opening up especially with the influx of multinational corporations in East Africa. Kenya already serves as the headquarters of most of UK firms doing business in East Africa.
A certificate recognition deal signed last week is set to reduce the current trend where most of these firms have to fly in key accounting staff.
Emerging segments such as oil, gas, telecommunication and mining sectors have attracted British corporations like Tullow, Vodafone among others.
Mr Vernon Soare, ICAEW’s executive director said the deal would allow the two bodies to share expertise and experience, adding that a robust accountancy profession is the backbone of any sustainable economy.
“When there is confidence in the numbers, this underpins trust in markets and business, and paves the way for attracting greater investment whether at home or from overseas.”
– Business Daily