THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
ICPAK & UFAA Practitioners Training
Theme: Enhancing compliance through unclaimed financial asset audits
Date: 30th November 2021
Time: 8.45am – 4.00pm
Venue: Online
Charges: Free
Overview
The audit practice has experienced tremendous developments over the past few years and continues to witness rapid transformation including the devastating effects arising from the COVID-19 pandemic. These developments are compounded by the emerging specialized areas which the profession needs to deal with, including audit of the Unclaimed Financial Assets (UFAs).
Unclaimed financial assets became a matter of great focus and concern, which necessitated the creation of the Unclaimed Financial Assets Authority (UFAA). UFAA was created to administer the unclaimed financial assets, with the primary mandate of the Authority being to receive unclaimed financial assets from the holders of such assets, safeguard and re-unite the assets with their rightful owners.
To support the Authority in achieving this mandate, auditors and accounting practitioners will require in-depth knowledge and understanding of the legal framework underlying the unclaimed financial assets and develop the required competencies needed in the audit of the holders of these assets.
It is against this background that the Institute and UFAA have organized a virtual forum to discuss these critical developments around unclaimed financial assets and equip the practitioners with the requisite skills and information necessary to prepare them for the specialized audits.
The key topics of focus will include;
i. The UFA Act 2011 and UFAA Regulations, 2016
ii. Overview of Procurement Act and tendering process for Holders’ compliance audits
iii. Methodology for Compliance Audits for UFA
iv. Report Writing
v. Audit of Banks & Other Deposit taking Institutions – Case Study
Concerns and questions arising from the participants will also be addressed in detail.
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 6 CPD Units upon successfully attending each of the training workshop sessions.
Target Audience:
Private and Public Audit Practitioners, Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, Tax Experts, Transaction Advisors, Engagement Partners and Key Audit staff, Banking, Extractive and SMEs sector accountants, Internal Auditors, Tax Practitioners, Professionals working in County Governments and private sectors, Academia, employees of the NPO Sector.
Cost:
There are no charges for the training. However, participants will receive training materials, and e-certificates of attendance.
Online Booking:
We call on Conference participants to note that booking is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is MANDATORY. This is available either online at www.icpak.com/events or on the ICPAK Live – A smart-phone based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
