₦airaland Forum

jl115:
PWC 100% hires CPAs as auditors since only CPAs are allowed to sign of Audits..... And yes trainees or audit clerks(what they are actually called) do allot of donkey work... I would know since I was one..... In SA to become a CA you need a three year CA approved degree Bcom Accounting, B Accounting or Bcom CA...a honours degree, 3 years articles/clerkship and then you also need to pass all SAICA exams....all in all it takes 7 years to become a CA in South Africa.... That's why there are more doctors than CAs.

In Kenya CPA is easy to get...that difference..most CPAs have no other qualifications..my sister is CPA..she didn't even quality to join university..during those days.CPA is under KASNEB.. accounting body.. only requirement is c plus in maths and English in high school.I wanted to do it as we waited for 2yrs to join university because I did accounting in high school and liked it...

jl115:
You are correct they are called CPAs in Kenya.... However they still do exactly the same as Chartered Accountants, and Kenya still uses IFRS so nothing changes wrt my statement.

CPAs and CA literally as in literally Audit financial statements.... That's what they do as external auditors..... What did you think they Audit?

CFAs can fulfill a wide array of roles however the vast majority of CFA holders are portfolio managers.

Only CPAs can sign off an Audit.

I guess if its true what you say, that's why South Africa is rated for having the best Auditing standards in the world and Kenya isn't

Kenya and Nigeria are incredibly corrupt environment.. companies generally have internal audit and external audit like pwc provide thumbs of approval..but in Kenya pwcs double up as anti corruption agencies..their clients brief involves mostly investigating fraud..so if it's manufacturing plant you need someone who is an engineer and an auditor..so he can sniff any monkey games..if it's a hospital they send doctor turned auditor

jl115:
read my reply to rvp.... Before I even read your post:


Next time stay in your lane

PWC in Kenya don't hire auditors..they hire trainees..in our time they were paid 80k ksh per month put in a hotel for three months trained them on basic of auditing..then they required to get their CPAs or chartered accountants in next two years..then promoted to be auditors.For those two years they are used as donkeys ..they essentially work long hours confirming every receipts..Kenya is low trust society...so auditing is deep.. everything must be questioned...maths recalculated..it's extremely hard donkey work that drive many trainees to the wall..no weekends while you work on your CPAs.

jl115:
1.No they don't, PWC will only take graduates working towards a CA for their auditing program... That is an undisputed fact.... Also in Kenya they won't take a CPA but a CA because Kenya uses IFRS not GAAP.

2. You are Auditing financial statements, not the intricacies of engineering firms, since Kenya uses IFRS and thus so do your listed companies you don't need engineers you needs CAs that understand the intricacies of things like group statements

3. Bolded is your biggest lie!!! You do understand Kenya uses IFRS? Meaning ONLY qualified Chartered Accountants can sign off an Audit!.... Also the average completion rate of someone studying towards a CA is in fact lower than engineering and pharmacy graduates, its one of the most difficult qualifications to get

4. You don't need to understand medicine y, you need to understand financial statements

Maybe South Africa.Kenya do CPAs.Few do UK Chartered accountants.You don't audit financial statement...those are summarize any idiot can learn to read.Maybe CFAs learn financial statements.In Kenya the big audit firms specifically go out to look out for non bcoms/CPA graduate.. engineers name them get picked...then they are taken through CPAs for first two years as they are worked like donkeys auditing receipts...you get locked in room..my friend burnt out and run mad at pwc..now he is PhD working as director at big insurance companies..three are now jersey and Belgium...in our class 45..about 12 if recalled were hired to audit firms with computer science degrees..they do CPAs at pwc.My immediate neighbors son is engineer...he at one point came to south Africa under kQ to be a pilot and failed..went back finished..hired at Delloite recently..now again taken to Jersey ... engineer but now doing accounting.In Kenya this the rule... gazillion of people after high school do CPAs but they will never get hired by Big 5 auditing firms.If I recall during the last semester big 5 come universities asking people to apply..it doesn't matter course or the major...the hire based on their aptitude test and take almost non bcoms

jl115:
Call them what you want bru � fact is they know what they are doing

Kenya uses IFRS...... Meaning PWC will only employ qualified Chartered Accountants as auditors not from "all fields" as you claim... Maybe for their other apartments but not for auditing

I did.... Did you not see my previous post? .... If SA stood still and Kenya grew @6% it would take Kenya 22 years to overtake SA.

They employ fresh graduates from all degrees then take them for accounting...they don't take someone with CPA.. because they are likely to be auditing all sort of companies... therefore engineer graduate will be helpful in understanding intricacies of engineering firms.. auditing is not just bean counting..the biggest problem they face is they get called to audit all sort of clients in different sector and they need to understand stuff quickly and catch cheats. In Kenya they actually generally avoid taking accounting or bcom because those are easy to teach skills compared to getting pharmacy graduate who understand that medicine x cost this much.

mdntiri:
Less than 3 million people Botswana, Namibia, Seychelles, Mauritius etc don't impress me even with their superior scores in many indices. They should have at least some 12, 20 million people AND still be doing well to earn my respect. Or they should do like the Denmarks, Finlands, Singapores etc with small populations but global influence to earn my respect

Remove Mauritius which has become Africa first develop country..the rest are stuck in middle class rut having failed to improve their education .. high quality education is key differentiator.You could tell Mauritius was going places two decades ago because of their very strong education system.. while south Africa is going nowhere anytime soon.Zimbabwe was southern Africa crown jewel that West sanctions killed

jl115:
I know bru ... However PWCs biggest department by far is its auditing department same with Deloitte, KPMG and EY.....and to be an auditor. with these firms you either need to be a Chartered accountant for IFRS countries or CPA if you are in the US

Also maybe follow the discussion before making an ignorant statement as above

How does that makes them experts in economics? The place teeming with economist are treasury or finance department,imf, world bank, OECD..next maybe mckensey, Bolton consulting and definitely the economist intelligent unit.Those are folks who can tell you south Africa is economically sick

It's actually the start of desperation..Kenya in 1993 was facing similar forex situation..the head of Kenya intelligence..a very brilliant fellow came with what seem brilliant scheme...steal or buy DRC Congo gold cheaply then use it as forex ..it became goldenburg scandal...the worst Kenya has seen

Just30:
at this point you're just typing because as a talkertive , you must have something to say.

So here you are, your comment are all over the place and even delving into baseless comparison

Go and sleep , you need it

You think you can conduct international trade with golden stool..tough luck..most don't give a damn about gold..pay USD or hang there

Just30:
it govt has no power ... Just the military industrial complex


Go squabble with fellow kiberans ... You don't understand any of the things I post here

USD is trusted.. nobody trust cedis . USD is backed by largest economy with hardworking and responsible democracy.There are 200 currencies yet financial transactions international are best done in USD .even btw Ghana most would love the Benjamin's.Fix your trust issues

Just30:
let me laugh

US that has gone to war just to loot gold ... Asl yourself where the Libyan central bank gold is ?


UK paper gold market was designed just to keep gold prices down

Kid you're new to this world ... You don't know it deeply held secrets.

Gold is the reason why the US has clientele states

This is just a little education for you

Exactly 50yrs ago USD is backed by nothing but the mighty of us gov.Ghana aka gold coast is backed by mad men words.nobody trust mad men who dont pay their word..US gov word is the new gold.Dig all the dirt and poison your river...new gold is the Benjamins.Its about trust

Just30:
at this point, it seem so

Ghana is little ant on USA radar ... doesn't show up unless they ask for microscope.Most of you don't understand just how incredibly powerful US economy is.What is gold in usa...most useless metal..USD is gold... maybe you produces uranium and say cobalt like Congo and they will care.Sell you gold to Arabs, Chinese and indians for jewelry.US financial engineering in wallstreets will outmine all gold ever produced.Only China will eventually make US pause and negotiate..for now they have incredibly brilliant hardworking and creative people on planet earth.. creating Incredible wealth from thin air.No nation come close except for 1.5b people chinese empire.Ghana crazy morons... fight Burkina faso

vaxx:
oh i am sorry , the tea is too valueless for such productive venture . Ghana gold is a premium , every country want to hold it . That is why we attract the biggest mining company in the word for it. We are dealing with nations that has oil to offer . It is based on value for value my guy .

Verbiage.Its called barter trade.Primitive trading system after you are kicked out of international trade

Just30:
so when you offered them as sex slaves to the Arabs and Persians all you got back was looting of your land

sex or sex slavery..later ask Nigeria..former is a rental services Kenyans offer tourist..as they seek sun,sandy beaches and sex.They don't enslave anyone.Infact with their generally small tail .you'll get back your woman intact but with Benjamin.Sex is a service that should be exchanged freely

Just30:
You sold yours for less ... At least cowery was valuable then

Today you're selling them for sex

Sex is a service.. slave is a good.You sold your people for ugly Indonesia prints

Just30:
when china is busy asking the Saudis to join their PetroYuan system and kill the *dollar with gold as the medium of exchange, traded on the Shanghai exchange under BRICs until the BRICs reserve currency can be fully implemented ... You're here still thinking like a sheep


Everyone see where the shift is happening towards including the IMFD no wonder they want to move to Beiji
More trade has shifted away from the dollar.

Ghana just effectively created 6 billion dollars worth of cedi demand

I am against the dollar dominance but it won't be taken down easily..not by Ghana.Study why dollars is the king.

Just30:
The Kenyan shilling is equivalent to cowery

you're right..like a broken clock you will right once every 24 hours.. Kenya pesa is Portuguese peso...then in 15th century Portuguese sold our people cowry shells from seas...and it became Hela or Peso... people didn't know cowry shells were plentiful in ocean

Srilanka started a year like Ghana.. seeing they couldn't get dollars they became paragon of organic farming and other crazy ideas... eventually they grinded to halt..Now they are belly up depending on India generosity.What important is for Ghana to admit like new Zambia gov their mess and work to repair the broken trust.It require very trustworthy reform minded new political class that can face the world and say we sorry ..we fcked ..we will pay all debt and will never fck..work with imf and creditors to sort issues in at least a decade .. institute painful reform that ensure creditors are paid... especially the small investors whose retirement or pension plan are on the line...having forgone huge return to invest in safest investment gov bonds only for a sweaty fellow to say won't n cant pay

vaxx:
At least they are spending more dollar cash on importation. I now understand the reason their power company is demanding to be paid in dollar in shillings economy .

Dollar is the king.if your account in the US Fed reserve is nill next is to be kicked out of international trade...no one has time to confirm if your gold is real or fake ...if you have money in us Fed reserve bank..we do business..barter trade of gold might interest oil sheikh of middle east

Just30:
you're mad if you don't know that gold is the only real currency

Kenya can maybe borrow from Sri Lanka so your people don't go hungry every year

I hear coweryshell were currencies then gold then fiat then Bitcoin.Please Keep the Benjamins.The rest are nonsense.US dollars .If you run out them no gymnastics will help you until you earn the Benjamins

Just30:
cry

Don't worry we will screw them for the many years they've screwed Kenya

In the world of finance, everything is a negotiation strategy

Only morons buy into your gold purchase scheme...you would have done when you're healthy..not on your death bed...there will be much more desperate scheme..Srilanka went organic farming as they couldn't afford chemical fertilizers..this start of the shiet show as the shiet just hit the fan.At one point you might even ask Ghanaian to go back to stone age and live in pre civilisation era as dollars dries up

Just30:
cry

Let me add more to your misery .... This is the perfect opportunity for us to screw bond holders using marked to market price just like how they've been screwing poor countries like Kenya.

This one is currently financing the 600million dollars Tema motorway expansion.

It also has investments earning returns

Ask Argentina how they are doing since 2001...debt vultures are on you like rice o n whites ....they are people who invest in defaulted debt then wait you out... remember debt must be repaid...with interests and there is no duplum law ..in international bonds...what you borrowed you will pay even 20 times.Be careful with eurobond

Just30:
keep crying

Anytime you want to compare Kenya to Ghana, just watch this

These are just monies waiting to be invested

All 3 funds have billions already invested

Invest in debt repayment otherwise you owe investor billions and you have to pay...debt must be paid...here on earth or heaven

Just30:
lunacy on display

But whatever makes you sleep at night


One time you're saying Ghana will default next year and another time Ghana has defaulted I'm not surprised with your typical lunacy

Good luck buying Ghana debt cheaply when no one is selling

Ghana has defaulted on most of it's debt..classic default is coming in January...the hidden truth is that stupid gov has emptied it forex reserve in kamikaze run against the dollar .That truth wi be revealed soon..in September forex reserve was down to 6B... January it will be empty over ..you will go back to stone age

vankelvin:
So you wish

I wish the best of Ghana always .What has Ghana done to me or Kenya for me to mean to them.Nothing negative.I hate leaders like Nana who bankrupt their countries and set them back two decades . Previously it was stupid leaders taking people through communism..now we have nana doing the same by imprudences that punishes generation.its very sad.

vankelvin:
Im Least surprised about your rants on motorcycle as means of mass public transportation.
We all know Arabs/Asians have massive influence on Kenyans so you fancy their way of life but here in Ghana we love the Western stuffs.

We will choose our Vans(sprinter and 207) over motorcycles anyday anytime.
We are not ready for a chaotic system of transportation

Lebanese and Chinese are you new colonizer.Dont copy European model...they at least 200yrs ahead of you.Copy Asian model.

Just30:
You think this is Kenya who is bankrupt er?

Go focus on paying those Chinese debt and commercial loans that you've been defaulting on.

Those restructuring will be done before the year even ends.

classic sign of madness..you think people won't go for xmas because Ghana defaulted...like in life cycle every stage has it specialist...undertaker's, mortician, vultures, hyenas are on you case...read more about debt vultures...in 2005 together with Nigeria your debt was forgiven... because you had no animal called eurobond...it was bilateral and multilateral debt ..now I can buy ghan eurobond cheaply then wait it out..in 2030..I will seized your president jet in Nairobi

Just30:
I'm not the one talking ... Ghana bond holders want Ghana back on the market as fast as next year and they are going to make sure to it.

Next tears

. Debt restructuring has not began..your embassies will seized ...debt vultures are sorrounding your dying rotting corpses together with hyenas and microbes..they just buy and wait out for any sign of life..show up demanding the golden stool...you resist they get court orders and seize anything you own outside Ghana

jl115:
and yet Black South Africans earn more than twice the income of the average Kenyan....

You are world leader in minerals..but you're lucky to have stupid south Africa.. elsewhere you would in holland driving your bicycle now

Just30:
mark this here

The next buyer of Ghana cedi dominated bond is going to be Franklin Templeton Investment, blackrock and co like they've done before.

You really don't know much about finance if you know what relationship was and how strongly it is regarded.. you won't be typing this.

You don't even know what George Soros invest in... That guy only invest in weapons, geopolitical movement and some green nonsense (the kind he's using to rob Kenya)

I am not insane like you buddy.Yesterday it was over.Then two weeks.Now you think a year.You will need minimal of two decades to repair the trust deficit.Youre not first or the last to default .Try asking your ex to forgive you but asking creditors to lend again..you need three years first for debt restructuring... meanwhile interest is going through the roof..and people who are interested in dead corpses are buying them..debt vultures

jl115:
if they could afford or want motorbikes then they will buy them, but it isn't needed since public transport us sufficient

it's takes deliberate gov policy to bring or manufacture cheap asian bikes that your poor solely need... obviously they cannot afford super bikes on the market now...once bikes are sold for 1k dollars..or like Kenya the poor walk in and walk out with bike through credit...they will buy in millions.Your gov has failed your own people

Just30:
I'm talking about a strong debt market of our own such that we won't have to trade bonds in Frankfurt.

The kind that is so strong such that it attracts big funds like Franklin Templeton Investment to buy debt traded in Ghana.

From the look of how fast Ghana recovery has been.... Ghana will be back in the market around 3rd or 4th quarter of 2023... It bond holders want her back as soon as next year

The only investors you will attract the next twenty years are called debt vultures..they are hyenas and vultures buying Ghana depressed bonds ..the like of George's Soros so they can take you to cleaners proper.No sane person lend to someone who wakes up one Sunday sweating to announce they won't and can't pay