FINANCIAL REPORTING FOR COUNTY GOVERNMENTS & OTHER PUBLIC-SECTOR ENTITIES

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)

FINANCIAL REPORTING FOR COUNTY GOVERNMENTS & OTHER PUBLIC-SECTOR ENTITIES
Theme: Reflecting on the journey to accrual accounting.
Date: 26th February 2023 to 1st March 2024
Time: 09.00am- 03.30pm
Venue: Sarova Whitesands Beach Resort & Spa, Mombasa

Overview:

Financial reporting is a key component of public sector accountability and transparency.  The Public Finance Management (PFM) Act 2012 and the PFM Guidelines 2016 provide a blueprint of how public finance resources must be accounted for, to achieve accountability and transparency in their utilization. Despite the existing legal frameworks which provide guidance on the utilization and accountability requirements in the public sector, a myriad of challenges still exist in realizing effective and accountable utilization of the public resources.

Additionally, the ever-disturbing subject of corruption and fraud in the public sector remains a talking point to inform the necessary interventions which must be put in place to ensure that public resources are safeguarded to benefit the public.  This will contribute to realizable national development and growth across all sectors of the economy.

County governments particularly face unique challenges in the administration and accounting for public resources, which requires that they deploy more effort and resources to ensure compliance with the international public sector financial reporting frameworks and globally accepted concepts of best practice.

It is against this background that the Institute has organized a five-day Conference to discuss these critical matters which affect the financial reporting in the County government and other public sector entities.

To guide the discussion during the forum, the following topics will be discussed;

1. Emerging developments in public sector financial reporting and ESG reporting
2. Auditing County Governments and Assemblies; Lessons from Office of the Auditor – General: – An overview of recurrent and cross-cutting audit issues for the public sector
3. Key challenges faced by the counties /public sector entities in financial reporting and Public Finance Management
4. Budget implementation and effective budgeting considerations for the county governments and other public sector entities
5. Effective governance and oversight considerations for state owned enterprises and other public sector entities
6. IPSAS 33, First time Adoption of Accrual Accounting – challenges, opportunities and the transition
7. Dealing with the aspect of Pending Bills and strategies to ensure financial sustainability
8. Effective governance and oversight considerations for public sector entities
9. Integrity and ethical considerations for professionals in the public sector
10. Performance Contracting for the Public Sector

11. Preparation of financial statements effectiveness of financial reporting standards:

• Legal requirements and Presentation templates
• Components of financial statements
• Key considerations and timelines
• Quality assurance mechanisms.

1. Digitalization of the public sector financial accounting processes
2. Redefining Public sector Taxation and impact on Suppliers to Government entities

Continuous Professional Development Units (CPD Units):

Members of ICPAK and reciprocating professional bodies will be 20 CPD Units upon successfully attending each of the sessions of the Seminar.

Financial Commitment:

Note: Delegates are required to make their own travel and accommodation arrangements. Seminar charges cater for training fee, training materials, certificate and meals during the event.

Online Booking:

We call on Conference participants to note that booking is available only online at www.icpak.com/events.

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

Partnership Opportunities
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or enquiries please email raphael.nguli@icpak.com.

Further requests can be channeled to us via telephone calls on +254 719 074 100,  or via email to Andrew Kavoo  at andrew.kavoo@icpak.com with a copy to memberservices@icpak.com.

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