In Summary
  • ICPAK has turned to the Treasury to push the Competition Authority of Kenya (CAK) to give members the green light to prescribe minimum fees for each category of service in non-assurance, company audits, saccos, pension schemes and public benefit organisations.

Accountants have revived a bid to introduce minimum fees for advisory services months after the competition watchdog rejected the initial request.

The Institute of Certified Public Accountants of Kenya (ICPAK) has turned to the Treasury to push the Competition Authority of Kenya (CAK) to give members the green light to prescribe minimum fees for each category of service in non-assurance, company audits, saccos, pension schemes and public benefit organisations.

“We had discussions with the CAK after the ruling but it did not yield any fruit so we had to go to the (Treasury) Cabinet secretary,” chairman Julius Mwatu said in a phone interview.

“We have appealed through National Treasury because that is our host ministry.

We have made formal written submissions and it is something we are discussing.”

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