Professional Accountants in Business: Perspectives from a Developing Country

20 Pages Posted: 25 Mar 2015

Date Written: June 01, 2012

Abstract

The purpose of this paper is to assess the role, opportunities and challenges of Professional Accountants in Business (PAIB) within the context of global frameworks and the future of Accounting in Business. Models by International Federation of Accountants (IFAC’s), Association of Chartered Certified Accountant’s (ACCA) Value Creation Model and Pricewaterhousecoopers Standard Finance Model 2011 were applied on data collected by questionnaire from Accountants registered by Institute of Certified Public Accountants of Kenya (ICPAK).

From a sample of 362 Accountants the findings revealed that only 33.7% are involved in business strategy to the extent of 60-100 % against global average extent of 79%.

The current baseline study offers the first academic insight in Kenya on the roles and provides evidence that Kenyan PAIB’s are not as involved in business strategy as their counterparts in other parts of the world. Professional accounting institutes and their global partners, regulators, boards, and the government can therefore redefine the roles of accountants from insights of this study.

Keywords: Professional Accountants in Business (PAIB), Value Creation Model (ACCA), Standard Finance Model (PWC), Kenya

JEL Classification: F30, G15, G18, M41, M42

Suggested Citation

Outa, Erick Rading, Professional Accountants in Business: Perspectives from a Developing Country (June 01, 2012). Available at SSRN: https://ssrn.com/abstract=2583756 or http://dx.doi.org/10.2139/ssrn.2583756

Erick Rading Outa (Contact Author)

Charles Darwin University ( email )

21 Kitchener Drive
Darwin
Darwin, Northern Territory 0800
Australia

HOME PAGE: http://CDU.EDU.AU

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