In a significant move aimed at strengthening Kenya’s public financial management, Treasury Cabinet Secretary John Mbadi has made six new appointments to the Public Sector Accounting Standards Board (PSASB).
The appointments, officially published in the May 9, 2025 issue of the Kenya Gazette, include the installation of Pius Mungai Nduatih as the new chairperson of the board.
Nduatih, a seasoned Fellow of the Institute of Certified Public Accountants of Kenya (FCPA), is set to serve a three-year term beginning April 1, 2025.
Alongside Nduatih, the newly reconstituted board features a diverse team of professionals, combining both extensive experience and strong credentials.
The new members include FCPA Edwin Kamar, FCPA Kipkoech Andrew Tanui, CPA Damaris Mumo, and CPA Leonard Okoth Ouma.
This blend of expertise is expected to play a pivotal role in elevating the standards of public sector financial reporting and accountability.
The PSASB is a key institution under the Public Finance Management framework. It is tasked with setting and enforcing accounting standards for state organs and public entities across Kenya.
Its mandate also includes defining formats for financial statements and ensuring consistent reporting practices across all levels of government.
These appointments come at a crucial time as the National Treasury intensifies efforts to transition the country’s accounting framework from cash-based to accrual-based systems.
This shift, which was approved by the Cabinet in March 2024 and is scheduled for implementation starting July 1, 2024, aims to enhance the transparency of government finances by recognizing revenues and obligations when they occur rather than when cash changes hands.
This move is especially critical in improving how government liabilities such as public debt and pending bills are tracked and reported.
The PSASB will play an instrumental role during this transition, providing technical support and oversight to ensure smooth implementation.
This is in line with a broader financial reform agenda initiated by CS Mbadi, including the establishment of a Steering Committee last year to guide the nationwide adoption of accrual accounting.
By Kenyans