IAESB Young Professionals Panel in Kenya

Prior to the International Accounting Education Standards Board (IAESB) April meeting, representatives from Australia, South Africa and the US with differing professional backgrounds met with a group of aspiring and young professional accountants from local universities and businesses in the Nairobi, Kenya area. The discussion provided the opportunity for the young professionals to share their experiences preparing for an accounting career and the challenges they face and for the IAESB representatives to share insights to the accounting profession around the world.

The panel discussion covered many timely and relevant topics for the young accounting professionals, including:

• skill sets that employers seek when hiring accountants;
• requirements to become a professional accountant in other countries;
• tips for staying current in an ever changing professional environment;
• practical experience and its value;
• how technology is impacting and disrupting the accounting profession;
• local and global opportunities a career in professional accounting can provide;
• the importance of an ethical mindset; and
• career challenges and advice.

Following the panel discussion, the audience had the opportunity to ask the panelists any questions they had about the accounting profession, career paths, and IAESB activities. The students were especially interested in learning more about more about how the accounting profession is changing and what these changes could mean for their careers.

Additionally, the panel and audience learned about the new Trainee Accountants Practical Experience Framework that will be administered jointly by the Institute of Certified Public Accountants of Kenya (ICPAK) and the Kenya Accountants and Secretaries Examination Board. This framework will focus on strengthening the practical experience requirement for CPAs in Kenya by adding a requirement for a minimum 450 hours or three years of relevant experience under a mentor. After completion of this requirement, aspiring professional accountants will be able to become an ICPAK member and use the professional accountant designation.

The IAESB was honored to participate in this event and the opportunity to meet with young professionals, accounting students and academics.