International conference on accounting, finance and information technology

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In October 2018, KCA University held a successful international conference on accounting, finance and information technology “advancing knowledge in accounting, finance and information technology for sustainable development “at Kenya School of Monetary Studies.

Attended by government representative, industry players and academia drawn from across the globe, the forum addressed the contemporary issues which have direct impact to the society.

The event also provided a platform for sharing of knowledge and experiences on accounting, finance and information technology and to mold leaders to be self- driven to observe the core values.

Keynote speaker Deputy Governor for Central Bank of Kenya Sheila M’Mbijjiwe, while addressing the topic “Thoughts of Reengineering Management of the Accounting Profession” pointed out a global loss of confidence in institutions and professions adding that accounting professionals need to be ethical and willing observe.

M’Mbijjiwe asked accounting professionals to continually adapt to new circumstances and be whilst retaining core values.  She pointed out that the problem of not adhering to values make the society to lag behind in development.

Speaking about the role of professional bodies in enhancing integrity, CPA Cliff Nyandoro said there was need for proper education on what integrity entails.  He said professionals should foster integrity in their spheres of influence.

Nyandoro observed that there should be a straightforward mechanisms and disciplinary procedures to deal with complains against professionals.  He added that professional bodies should be enablers of fair access to the professions so that people from all backgrounds can join them.

Chairman Kenya National Chambers of Commerce and Industry Kiprono Kittony, shared with delegates the international trade and career opportunities in East Africa adding that the region has a myriad of opportunities that can used to fix the regional economy.

While analyzing liquidity as a financial distress factor, Dr. Fred Sporta said liquidity arises from maturity mismatches where liabilities have a short term asset.

He added that any sudden increase in borrowers’ demand above the expected level can lead to shortage of cash.  He said commercial banks in Kenya must strive to measure and maintain proper levels of liquidity as lack of liquidity may bring about failure in meeting customer needs depositor who form the largest part of banks total liabilities.