The Institute of Certified Public Accountants of Kenya (ICPAK) is the statutory body of accountants established under the Accountants Act in 1978. ICPAK draws its mandate from the Accountants Act No.15 of 2008. It is also a member of Pan Africa Federation of Accountants (PAFA) and the International Federation of Accountants (IFAC), the global umbrella body.
On the 5th of September 2023, the Financial Reporting Centre (FRC)issued a directive requiring several entities to register with them. Among these entities were accounting firms.
The set deadline for registration was the 15th of September 2023. On realizing that the FRC’s directive was impacting ICPAK members, especially those in practice and that this is already in the POCAMLA law. Section 36A of the Proceeds of Crime and Anti-Money Laundering Act, 2009 (POCAMLA) designates the FRC as the supervisor of all reporting institutions for the purpose of implementing the provisions of the POCAMLA and the Proceeds of Crime and Anti-Money Laundering Regulations 2013 (POCAMLA Regulations).
The Institute reach out to FRC and negotiated that before the implementation there be a sensitization forum of ICPAK members and also extend the registration deadline to 2nd of October as below.
- FRC will hold a virtual sensitization forum for accounting firms to explain the registration basis, process, and obligations.
- This forum will be held on Friday, the 22nd of September 2023, from 9 a.m. to 00 noon.
- FRC granted an extension of the deadline for registration to the 2nd of October 2023 to allow all parties to comply. Find attached the notice of extension and the program for the sensitization forum.
This will be a free training to members and those in attendance will be awarded two (2) continuous professional development (CPD) points.
For registration please click on the link below . Please note that the deadline for registration is on 21st September 2023 at 5PM.