Audit Quality Assurance Seminar – South Rift Branch

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Audit Quality Assurance Seminar – South Rift Branch
Date: 31^st March-1^st April 2022
Time: 09.00am -3.30pm
Venue: Sunshine Hotel, Kericho.

OVERVIEW

Users of audited financial statements place a lot of reliance on the information contained in these reports for purposes of decision making among other applications by stakeholders.

Thus, the need for high-quality, accurate, and reliable financial reports continues to be of great relevance even during this time of the COVID-19 pandemic. The Institute aims at ensuring that the accuracy of these reports is maintained for all the sectors of the economy to enable enhanced confidence of the different categories of users.

It is equally critical that the users of the financial statements and annual reports obtain the relevant information to aid in decision making. The audit and assurance procedures which result into the audit report must therefore be reliable and compliant with the International Auditing and Assurance Standards.

In compliance with the International Federation of Accountants (IFAC) Statements of Membership Obligations (SMOs), the Institute undertakes its regulatory mandate and oversight of the audit firms in the Kenyan market to ensure adherence to audit quality requirements by the firms which it regulates. It is against this background that the Institute seeks to enhance the quality of audit engagements and compliance of practitioners in line with the compliance requirement of IFAC.

The Institute will host a two-day Seminar which will focus on audit quality assurance and compliance review through:

• Providing guidance towards compliance with auditing and assurance frameworks
• Retooling the audit and assurance staff to ensure compliant and quality audits
• Feedback from the regulator to enhance the compliance levels of the reviewed firms
• Automation and leveraging of technology to improve the audit quality and compliance by Firms

Topics:

The topics for discussion will include:

1. International Standards on Assurance Engagements (ISAEs)
2. International Standard on Quality Management

• ISA 540 –Auditing Accounting Estimates

1. Audit Documentations and Evidence
2. ISA 220 – Quality Control for an audit of financial statements
3. Expectations of AQA, AQR and AQM

• Identifying, Assessing and Reporting on Going Concern Issues
• Emerging issues on Ethics, Audit Risk and Reporting

1. Performing Risk Assessment Procedures
2. Impact of Covid 19 on the Audit Process
3. Leveraging technology to enhance the quality of audit and assurance engagements – ICPAK audit software

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully completion of the workshop.

FINANCIAL COMMITMENT:
The workshop charges are Kshs. 10,000. Charges will cater for the workshop fees, learning materials, and e-certificates of attendance.

TARGET AUDIENCE:
Professionals working in Government and private sectors, Accountants in Academia.

ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for the workshop is mandatory on https://www.icpak.com/event-registration/Online Booking We call on workshop participants to note that booking is available only online at www.icpak.com and will close one day before the training session. Delegates are reminded to note that online booking for the training is mandatory.

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)

Further requests can be channeled to us via telephone calls on +254 723 237885, +254 719 074 100,  or via email to Patrick Kipkurui atpatrick.kipkurui@icpak.com with a copy to memberservices@icpak.com.

We encourage members to regularly visit our website https://www.icpak.com for updates.