November 23, 2018
Since the year 2015, the Office of the Controller of Budget has consecutively won the prestigious FiRe Award. The culmination of the 4th Award took place at a colorful gala dinner held at the Carnivore grounds in Nairobi, Friday 16th November, 2018.
The Office won the Independent Offices and Constitutional Commissions Reporting under IPSASs Cash category, where Independent Policing Oversight Authority was the 1st Runners Up and Public Service Commission was the 2nd Runners up.
There were 408 public sector entries which is a clear indication that the decision to adopt the International Public Sector Accounting Standards in 2014, as the reporting framework, is bearing fruit. The public Institutions include; Ministries, Departments and Agencies, State Corporations and Semi-Autonomous Government Agencies, and the County Governments.
CPA Obadiah Biraro, Auditor General, Rwanda, who graced the event as chief guest, said; “Increased participation by the public sector reinforces the commitment to more open accountability in the use of public funds and offers the entities an opportunity to be assessed against global standards’’.
In addition to the 408 public sector entries, there were 95 entries from across East Africa in the financial services sector, industrial, commercial and services sector, public benefits organizations, pension schemes and learning institutions, bringing the total entries to 503 in 2018 compared to 456 in 2017.
The FiRe Award is the most prestigious and coveted Award in East Africa for financial reporting. The Award recognizes entities that have excelled in the area of financial reporting.
The awards focus on voluntary disclosure of relevant information in annual reports that go significantly beyond the minimum legal and regulatory requirements. Therefore, the participating entities benefit from an evaluation feedback which helps them to improve on their reporting year in year. The entry to participate in the Fire Award competition is open to all entities and no charges are levied.
The annual Award is organized by the Public Sector Accounting Standards Board (PSASB), Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), and the Institute of Certified Public Accountants of Kenya (ICPAK).
The Office was well represented by Mr. Stephen Masha, who received the Award, Ms. Irene Arimi, Ms. Sally Rono, Mr. Joseph Tulula, Ms. Pauline Mwagambo, Ms. Leah Gondi, Ms. Antoinette Kanani, Ms. Mariam Ramah, Mr. Patrick Kebiro, Mr. Fredrick Olang’, Mr. Jeremiah Mbene, Mr. Simon Koko and Mr. Geoffrey Rieni.