INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under cap 531 of the Accountant Act, Laws of Kenya)
Financial Reporting Workshop for SACCOs and Cooperative Societies
Theme: Changes in SACCOs & Cooperative Societies Reporting for Decision Making
VENUE: Hilton Hotel, Nairobi
DATE: 17th – 18th October 2019
OVERVIEW
The cooperative movement has in recent years been called upon to adhere to best reporting practices key among which is the requirement by law that all cooperatives prepare financial statements in line with IFRSs.
The objective of this training is to provide the participants with the knowledge and awareness of current and emerging financial reporting standards, and how these impact on co-operatives; both SACCOs and other co-operatives.
This equips the participants with the skills to build a proactive and adaptive mindset, enabling them to be compliant and in the same breath be future-ready, anticipate and be prepared for the evolving workplace changes.
The pedagogic approach is based on experiential and interactive learning, whereby the participants will apply their knowledge and experience to, and reflect on, real-world implications of changes in financial reporting standards and prudential regulatory environment and develop a mindset shift to enable impactful reporting for better decision making.
Through audio visual, seminar-style discussions, action learning sets and presentations, the participants will accumulate a series of practical learning points over a two-day period that can be actively applied to their cooperatives and personal development after the course.
The focus will be on functional outcomes such as being able to;
(i) Employ full IFRSs in preparation of reports for cooperatives
(ii) Distinguish reporting for SACCOs and other cooperatives
(iii) Interpret and use financial statements ( By board members and secretariat of Co-operatives)
(iv) Link prudential guidelines to IFRSs
The assessment method will focus on the participants’ ability to employ changes that have an impact on reporting in cooperatives.
Target Audience
This training is suitable for
Senior management in cooperatives
Auditors of cooperatives
Secretariat members involved in financial reporting and analysis
Treasurers and finance committee members
Members of audit committee in cooperatives
Supervisory committee members
Staff of regulators in the cooperative movement
Staff and directors of apex bodies
Finance Managers & Internal Auditors in SACCOs; Practicing Auditors, Accountants from SACCOs; Representatives of regulatory bodies (SASRA, CBK), Finance consultants and any persons seeking knowledge in SACCO financial reporting matters.
Learning Outcomes
After this training participants should be able to:
• Be aware of expected compliance requirements in reporting
• Be able to interpret financial Statements
• Perform specific functional outcomes in reporting;
• Employ knowledge in reporting for leases and loan loss provisioning
• Develop an action plan to continue learning to be ready for the future changes
TOPICS
1) Meaning and importance of International Financial Reporting Standards with emphasis to: IAS 1, IAS 19, IFRS 9, IFRS 10
2) Need for adherence to Financial Reporting Standards & Sacco supervision report 2018 (Linkage between IFRS and prudential guidelines)
3) Principles of good corporate governance for SACCOs and Cooperative Societies in Kenya
4) Core principles of SACCOs and Cooperative Societies and how to enhance service delivery to members
5) Savings Mobilization and broadening the capital base in SACCOs and Cooperative Societies
6) Emerging issues in taxation for SACCOs and Cooperative Societies
Online Booking
We call on workshop participants to note that booking for the Workshop is available only online at www.icpak.com/events and will close on the 16th October 2019 at 1700 hrs. Delegates are reminded to note that online booking for events 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.
Continuous Professional Development Units (CPD Units)
Members of ICPAK and reciprocating professional bodies will be awarded 14 CPD Units upon successfully attending all workshop sessions
Financial Commitment
| Category | Early Bird RegistrationBooked & Paid for before 27th September 2019 | Normal RegistrationBooking & Payments or LPOs / LSOs received after 27th September 2019 |
| Associate Members | 10,000 | 11,000 |
| Members | 15,000 | 16,000 |
| Non-Members | 25,000 | 26,000 |
| International Delegates | USDs 350 | USDs 360 |
Workshop Travel and Accommodation Information (VERY IMPORTANT)These charges cover conference fees, writing material and meals during the Workshop.
International and local delegates who will attend the event are advised to make their own preferred travel and accommodation arrangements to the event in advance- this is at delegates own cost
Delegates from other nationalities who want to attend are requested to check with their Kenyan Embassy/ High Commission for their travel requirements. We will assist with letters of invitation or any other confirmations that may be needed to facilitate issuance of VISAs
Special Needs
If you have special dietary or religious requirements, or should you need any particular assistance kindly refer to the event coordinator on emma.opiyo@icpak.com
Dress Code
The workshop dress code is Business Formal/ Business Professional
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).
Sponsorship’s, Partnership Opportunities & Additional Information
This workshop presents a unique opportunity for brand positioning and communication that will enjoy optimal visibility before potential targeted customers. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from item sponsorship’s, exhibitions, advertising and sub-event sponsorship within the major event
The seminar intends to attract over 100 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring the event can reach us through raphael.nguli@icpak.com
Further requests can be channelled to us via telephone calls on +254 733 856 262/ 727 531006 or email memberservices@icpak.com or emma.opiyo@icpak.com. We encourage members to regularly visit our website www.icpak.com for updates.
