The 2018 edition of the FiRe (excellence in financial reporting) award ceremony of the Award 2018 has been launched and will be held on November 16, 2018 in Nairobi. It will be preceded by a conference to engage key stakeholders on topical issues which will be held on November 15, 2018.
The awards whose theme is “Leveraging improved financial reporting and corporate governance for economic growth and development of the East African region” is aimed at promoting integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting framework and other disclosures on governance, social and environmental reporting by private, public and other entities domiciled in East Africa.
“Weak corporate governance and financial reporting may lead to missed opportunities to address concerns which should have been flagged earlier. We encourage entities to enhance value creation through more open financial reporting to ensure business sustainability.” Mr. Edwin Makori ICPAK Chief Executive
Speaking during the launch Mr. Geoffrey Odundo, Chief Executive, NSE said
“Corporate governance is now a key concern for investors in the public markets as it has been demonstrated that companies with sound corporate governance practices tend to attract high profile investors. We therefore encourage listed entities, to enter the 2018 FiRe Award as they will be exposed to review and assessment by independent evaluators, enhancing their reporting standards and ultimately boosting investor confidence and participation in our capital markets”.
Promoters of the awards include the NSE (Nairobi Stock Exchange),Capital Markets Authority (CMA ),Institute of Certified Public Accountants (ICPAK) and Public Sector Accounting Standards Board (PSASB)..
