New NSSF Contribution 2025 Rates: Impact on Salaries for Kenyans
As of February 1, 2025, significant changes to the National Social Security Fund (NSSF) contributions will take effect, impacting salaried Kenyans and their take-home pay. This is in accordance with the amended NSSF Act, which schedules an increase in contribution rates spanning a five year period beginning February 2024. This phased approach aims to enhance […]
The Cornerstone of Business: Good Financial Accounting
For any company, regardless of size or industry, good financial accounting is the bedrock of success. It’s the system that tracks the lifeblood of the business – money. But why is it so crucial? Firstly, good accounting provides a clear picture of a company’s financial health. Through financial statements like income statements and balance sheets, […]
The CFO: From Bean Counter to Business Partner – The Modern Role and the Power of Accounting Firms
The Chief Financial Officer (CFO) is no longer just the guardian of the company checkbook. Today’s CFO plays a strategic role, partnering with the CEO to steer the business towards success. Here’s how the CFO role has evolved: Beyond the Numbers: While financial reporting and compliance remain crucial, CFOs now analyze data to identify growth […]
Don’t Let the Kenya Revenue Authority (KRA) Knock Twice: Common Tax Return Mistakes to Avoid
Filing your tax return in Kenya can feel daunting, but avoiding these common mistakes can save you time, money, and stress: By staying informed and keeping good records, you can ensure a smooth tax filing experience. Remember, if you’re unsure about anything, consult a registered tax advisor familiar with Kenyan tax laws.
Why Financial Audits Matter: Building Trust and Strengthening Businesses
Financial audits are crucial for businesses of all sizes. They provide independent scrutiny of a company’s financial health, offering a clear picture of its financial standing. But what exactly are the benefits of internal and external audits? Internal Audits: Conducted by a company’s own staff, internal audits focus on improving efficiency and identifying areas for […]