Browsing: Institute of Certified Public Accountants of Kenya (ICPAK)

• Mandatory IFRS sustainability reporting in Kenya will begin from 2027 to 2029.
• For the SMEs that are non-public interest entities, mandatory onboarding will begin on January 1, 2029.
• This unified framework aims to provide consistent and comparable information, benefiting investors and fostering transparency across Kenyan markets.

Kenyan firms will from 2027 be able to directly compare the performance of their Environmental, Social and Governance (ESG) initiatives with other companies globally as the country moves to adopt reporting under a common standard worldwide.

The country has initiated a plan to adopt the sustainability reporting under the International Financial Reporting Standards two (IFRS S2), designed to make public disclosures uniform, transparent, and easy to compare globally.

The Institute of Certified Public Accountants of Kenya (ICPAK) has set January 1, 2027, as the commencement date for the mandatory adoption of the sustainability reporting under the IFRS.

Under the plan, in phase one that …