George Mutua, audit partner at RSM Eastern Africa, speaks about the shift from managing to leadership and the deadline every CFO should already be working towards.
In a profession where moving firms is often treated as the surest route to advancement, George Mutua has spent more than 12 years at RSM Eastern Africa. This comes down to two things he says he has found at RSM: room to grow professionally and alignment between his own values and those of the organisation.
“I would also look at the example of those who have gone ahead of me, people like Ashif Kassam, our executive chair, and Simon Fisher, a technical consultant within the firm, both of whom have been in the profession for more than 30 years. Those are examples I can look up to. I have been fortunate to work with colleagues and clients who challenge and trust me, and that creates a strong sense of commitment,” he says.
George joined RSM Eastern Africa as a manager and has since risen to partner. He describes that transition as one that required him to have a mindset shift. While a manager's primary role is largely about execution, a leader is accountable for much more. In his experience, audit is about building confidence.
“As auditors, we give shareholders, lenders and other users of the financial statements comfort that the financial statements they are placing reliance on decision making are credible,” he says.
He indicates that key to this is acting as business advisors.
“We have to understand our clients and their processes. A strategic audit relationship is built on transparency and dialogue. As the client, you are transparent with your auditor about what challenges the business is facing and what you are doing. It is a two-way relationship and it means there is early engagement on any areas of subjectivity in the financial reporting process, and sharing of business plans and discussing risks before they crystallise in the financial statements,” he explains.
Strong controls
The risks that concern George sit in two places. The first one is around internal controls. He has seen growing businesses outpace their own governance frameworks, particularly in founder-led organisations and fast-growing organisations. Management override of controls remains a key concern in such organisations in his assessment. George advises that organisations can deal with this issue by ensuring the tone at the top is right and independent oversight mechanisms are established.
The second matter that impact business from a financial reporting perspective is sustainability reporting, and for Kenyan entities, that comes with a deadline. The Institute of Certified Public Accountants has adopted a phased implementation approach for the implementation of IFRS S1 and S2. The first entities to be impacted by the sustainability reporting standards, which come into effect on 1 January 2027, will be public interest entities.
“They are going to present a challenge for many organisations if they do not prepare well. They need to already be on a journey towards that compliance,” he says.
Concerning the current crop of financial professionals, George observes, younger professionals entering the market today are more comfortable with data analysis and ERP systems and more aware of what AI means for their careers than their predecessors were. While he finds that encouraging, he advises them also fully understand the ‘why’ behind the standards and controls.
“One of the challenges facing many young people today is the expectation of immediate results. When things do not go as planned or take longer than expected, frustration can quickly set in. Yet meaningful success rarely happens overnight,” he says.
A legacy perspective
George and his wife are keen to invest in the next generation and prepare them for the future, believing that the returns from this will extend well beyond their household. He also travels and reads when he can, describing books as the way he sharpens his mind.
“I look at every relationship from a legacy perspective rather than from a short-term gains perspective. I am always asking how I can be of assistance to this person over the long term. And I believe we are placed in each place for a specific reason, so I try to make the most in every interaction I undertake,” he says.
