Geoffrey Injeni is an accounting and finance professional with over 16 years of industry, academic and consulting experience. With his vast experience in this field, Geoffrey is set to determine whether integrated reporting, a new model of corporate reporting being recommended by International Integrated Reporting Council is the solution to corporate reporting in Kenya. Geoffrey is evaluating how applicable integrated reporting is to Nairobi Stock Exchange Listed companies.
My PhD journey started in 2013 where I attended seminars to learn more about expectations of a PhD: the rigor of research, methodology and how to publish among others. In 2014, I began exploring research on different topics in the areas of accounting and finance.
I therefore settled on integrated reporting, a current topic being debated on. In April 2015 I started the process of writing, after I got my supervisors. Dr. James McFie – Director School of Accountancy- Strathmore University, is my internal supervisor, and Prof. Musa Mangena from Nottingham Kent University, United Kingdom is my external supervisor. The two are experts in accounting and finance as well as research, and are very excited about this research. I defended my proposal in February 2016, and I hope to complete as soon as possible (2017).
My research is analyzing how corporate reporting is evolving in Kenya, whether there is ground for integrated reporting, and eventually if integrated reporting is the solution to corporate reporting gaps.
Companies prepare annual reports for various users. In the past, the annual report focused on financial information i.e. profits, assets, and value of company to investors. However, in the late 80s and early 90s, users felt that financial information needed to be supplemented with non-financial information, to enable a more informed analysis of the business moving beyond the numbers. Such analysis will include questions such as; is the company conserving the environment? Is the company socially responsible? Is the company being managed well? This led to provision of non-financial reporting. Companies therefore provide additional reports on; sustainability, governance and financial reporting, among others.
In 2010, the International Integrated Reporting Council, after a series of meetings and consultation launched the Integrated Report. This is basically an attempt to combine financial and non-financial reports into one report as opposed to the separate reports being provided. Professor Mervin King, a champion of Integrated Reporting, has already successfully pushed for companies listed in South Africa to adopt Integrated Reporting. Here in Kenya, the Institute of Certified Public Accountants Kenya (ICPAK), urged companies in Kenya to adopt integrated reporting in the 2013 and 2014 Financial Reporting.
My study therefore has three objectives;
Eventually, the research even though with theme of integrated reporting, will determine whether integrated reporting is the way forward or an improvement in the kind of reporting.
My study currently focuses on all listed companies in Kenya, about 60 of them. I chose listed companies because they have a regime that is more robust, and they have highly regulated reports, highly encouraged in reporting.
Right now I am working on data collection instruments (Questionnaires and interview guide), data collection and evaluation of models that will be used in data analysis. Later, there will be interviewing. Then I will be left with report writing and writing publications.
Not for now but from previous research, I know that doing research in Kenya, just like in any other emerging economy, is challenging because;
But I hope that links and networks out there will help me get as much information as I need.
Further to enhancing my research skills, I hope that this research can inform on a better or more useful system of reporting. We can adopt integrated reporting or improve the current one.
Corporate reporting is important primarily to investors who make decisions based on the corporate reports. With this kind of reporting, investors will be able to assess which options work for them, in order for them to invest wisely.
Getting knew knowledge and acquiring skills. And also the desire to be a key contributor in an interesting field.
I am married with three boys, whom I hope will not want to pursue accounting as a career but as a foundation to other careers. (I believe that accounting is now a basic human need).
Currently I am a post graduate fellow at the Business School. Previously I worked at School of Finance and Applied Economics, before then I was a lecturer at School of Accounting. I worked in the Industry for three years as a financial accountant before joining Strathmore. I am also a non-executive director in Mzima Springs Investment Company. I have also served in Mzima Springs SACCO for which I believe is a very strong base for financial empowerment (The SACCO and the Investment Company are financial institutions for Strathmore Staff and students).
I enjoy classical music, soul and jazz, watching comedy (movies and series) and recently, I have become very interested in motivational books (Currently am on “who moved my cheese?”).
I started with CPA, followed by BCOM (Accounting and Finance) at Strathmore. I then did ACCA and Bsc. Applied Accounting (Oxford Brookes University). I proceeded on to Master of Commerce (Finance) at Strathmore. I am also in the last level of CFA.
By the way, I wanted to be a medical doctor, but I could not make cutoff point by a point. During those old days when there was no parallel option. But now with parallel program I will pursue medicine when I retire from teaching, who knows. J
You don’t need a PhD to be successful in life, therefore work at it if it is something you like. Ensure that you are intrinsically motivated.
Do I have any?… I spend with my family. I play football with my boys (for a few minutes as long as I can breathe) and help with their homework.