Our Business Leader Spotlight series this week highlights Elvis Ogeto, the Managing Partner of RSM Eastern Africa. With a distinguished career spanning 27 years in the accounting and auditing profession, Elvis offers a wealth of experience and a unique perspective on the evolution of the industry in Kenya. From his early days, through his international experiences and to his leadership role at RSM, Elvis's journey is marked by a commitment to professional excellence, a passion for mentorship and a dedication to contributing to the growth of the accounting landscape. Join us as we delve into his experiences, his perspectives on the industry, and the impactful work being done at RSM.

Who is Elvis Ogeto

I consider myself a consummate professional. I've been in this field for about 27 years now. I began when we had Kenyan Accounting Standards and have witnessed the migration to International Financial Reporting Standards for Kenya. My experience in audit has been diverse, spanning numerous industries and countries. I was fortunate to gain international exposure just before the global recession, which was a challenging but ultimately rewarding experience.

This November will mark my 11th year at RSM. It's been a positive and, indeed, a challenging journey. For about eight years now, I've been a partner at RSM, serving in various capacities, including responsibility for human capital, ethics, independence, and, finally, the administrative oversight of the Nairobi Office. Currently, I'm the Managing Partner for RSM Nairobi.

A Brief Overview of Our Organization and Key Focus Areas

RSM is the 6th largest global network of firms, offering audit, tax, and consulting services. For services that don't fall under assurance or tax, we typically use the term "consulting," which includes risk advisory services to support our clients in internal audit work, managing transactions, and business process outsourcing. In tax, we assist many individuals and organisations in their interactions with the Kenya Revenue Authority, helping them be good corporate citizens by complying with tax laws and regulations. Additionally, we gladly support our clients in any matters before the revenue authority, including extensive areas like transfer pricing, especially for clients operating in multiple jurisdictions.

We pride ourselves on having a strong structure with regional representation. We have had engagements where we've served global clients, taking a "one firm" approach to both our pitch and service delivery.

In Eastern Africa specifically, we operate in Kenya, Uganda, and Tanzania, with four offices: two in Kenya (Nairobi and Mombasa), one in Dar es Salaam (Tanzania), and one in Kampala (Uganda). We have a leadership team of 9 partners and around 250 employees. There has been significant growth in the services we provide to our clients over the years. We embrace gender diversity, with a particularly high ratio of female employees, especially at the leadership level, where our governance group is about 58% female and 42% male.

RSM Kenya was formed in February 2004, and we celebrated our 20th anniversary last year, continuing to see the firm grow. Our purpose is to instil confidence in a world of change. As you'll agree, change is the only constant, and those who embrace and prepare for it are the ones who succeed in today's business world.

At RSM, we have a strong focus on mid-sized companies, understanding their aspirations and working with them to grow into the larger enterprises of the future. Regarding our internal interactions, we recently conducted a culture audit to evaluate how well we bring out the best in our people. Numerous initiatives have been developed and are being implemented, with staff actively involved in committees to bring these ideas to fruition. We have developed the "5 Cs" globally to guide our people's interactions: Caring, Curious, Collaborative, Courageous, and Critical Thinkers.

Some of Our Major Milestones and Achievements

Despite being a mid-sized organisation, we've made significant contributions to the accounting profession. Several of our partners have served on local institute standard-setting bodies, helping to develop impactful standards. We were a founding part of the HLB network and developed the HLB manual, which was used across the network despite our being a relatively young organisation within it. Locally, we've worked to develop manuals used by professionals nationwide and continue to prepare specimen financial statements for small and medium-sized entities. We are an ISO-compliant entity, prioritising data protection to ensure our clients' confidentiality and data security.

My Journey as a Member of KEPSA

RSM joined KEPSA in 2013. We've had opportunities to serve within various KEPSA organisations, which has been a valuable experience showcasing our abilities and enhancing our brand visibility. Our Executive Chair, Mr. Ashif Kassam, chaired the Public Finance Board from 2021 to 2022, and our Tax Director, Jilna Shah, is currently the vice-chair of the KEPSA Public Finance Board. I have been a member of the Economic Diplomacy Sector Board. We were the external auditors of KEPSA until 2018, with me serving as the engagement partner for the final year of our audit before rotation. We also served as KEPSA’s internal auditors until 2023. Additionally, we've worked closely with organisations affiliated with KEPSA, including KAM and EABC, participating in roundtables and other forums. My KEPSA journey has been positive, allowing us to enhance our brand visibility and showcase our expertise, particularly in tax, during various discussions and our contributions to national dialogues.

How KEPSA Has Contributed to Our Business Growth and Success

One significant area of our service has been on the monetary side, serving as both external and internal auditors for a full term. There has also been brand visibility through discounted advertising and the participation of our people in various forums representing KEPSA in national discourses.

Our Interactions with the Jiinue Growth Program

While we may not have direct involvement with the Jiinue Growth Program itself, I know we've worked with several clients where KEPSA, through funding mechanisms like MasterCard, has participated. We've supported these organisations with capacity building and financial literacy, ensuring they maintain proper books to support their growth and success. So, we've been happy to indirectly participate through our work with clients identified and supported by KEPSA.

My Advice to Aspiring Entrepreneurs

I find entrepreneurship fascinating. My first piece of advice is that opportunities are always out there, but it's crucial to take the time to research the area you're entering.

Secondly, always have a go-to person - a mentor. Don't try to reinvent the wheel; learn from those who have gone before you and their mistakes. Effective communication is also vital, especially when dealing with demand letters, to build strong relationships based on trust, which is fundamental in business.

In closing, my journey has been incredibly exciting, and I look forward to continued growth as I work with the teams at RSM, aiming to make a significant impact on the profession through our strategic drivers and our people.