Strathmore University bagged position 1 in this years’ edition of FiRe (Financial Reporting) Awards, defeating last year’s winner Kenya Power Pension Fund (Defined Contribution), who won 1st runners up this year.
The FiRe award seeks to promote integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting framework and other disclosures on governance, social and environmental reporting by private and public sectors domiciles in East Africa. The annual Award is organized by the Public Sector Accounting Standards Board (PSASB), Capital Markets Authority (CMA), Nairobi Securities Exchange (NSE), and the Institute of Certified Public Accountants of Kenya (ICPAK).
For the 5th year in a row, Strathmore University, emerged as the only university to participate in this reporting award, which requires submission of the organization’s integrated report comprising of financials, sustainability and corporate governance reportage.
In 2014, the university won 1st runners up position, while it was ranked winners of the same category in 2013 and 2012.
Participating in these awards, continue to be important for the university in an effort to embed a stronger financial reporting culture. Participating entities benefit from an evaluation feedback which helps on improving the reporting year in year.
Ms Olajobi Makinwa, from the United Nations Global Compact presided over the event as the chief guest. In her address, Ms. Olajobi commended Kenyan companies for advancing principles of good corporate governance as well as sustainability reporting stressing that, “culture of accountability is key to social economic empowerment, especially in Africa where cases of poor governance abound.
To access the 2015 Annual Report click here.
Felicitations to Strathmore University Finance and Communication department, in collaboration with the University’s auditors PwC for a job well done.