THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Blockchain Technology and Cryptographic Assets : Implication to Auditors and Accountants
Date: 2nd December 2021
Venue: Webinar
OVERVIEW
Cryptographic assets are transferable digital representations that are designed in a way that prohibits their copying or duplication. The technology that facilitates the transfer of cryptographic assets is referred to as a ‘blockchain’ or distributed ledger technology.
Blockchain is an accounting technology that is concerned with the transfer of ownership of assets and maintaining a ledger of accurate financial information. The accounting profession is broadly concerned with the measurement and communication of financial information, and the analysis of said information. Much of the profession is concerned with ascertaining or measuring rights and obligations over property or planning how to best allocate financial resources. For accountants, using blockchain provides clarity over ownership of assets and existence of obligations, and could dramatically improve efficiency.
Blockchain has the potential to enhance the accounting profession by reducing the costs of maintaining and reconciling ledgers and providing absolute certainty over the ownership and history of assets. Blockchain could help accountants gain clarity over the available resources and obligations of their organizations, and also free up resources to concentrate on planning and valuation, rather than recordkeeping.
Alongside other automation trends such as machine learning, blockchain will lead to more and more transactional-level accounting being done – but not by accountants. Instead, successful accountants will be those that work on assessing the real economic interpretation of blockchain records, marrying the record to economic reality and valuation. Asset’s ownership might be verifiable by blockchain records, but its condition, location and true worth will still need to be assured.
The webinar will cover the following topical areas.
The webinar will cover the following topical areas.
How will blockchain technology impact Auditing and Accounting
Basic technological features of Blockchain
Types of blockchain
Blockchain and the future of Accountancy
Cryptographic assets and related transactions
Technological features distinct between Permissionless and Permissioned Blockchain
Effective and potential implications of Blockchain technology
Blockchain and its application to Accounting – Intangible Capital
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 2 Structured CPD Units upon successfully completion of the Webinar.
FINANCIAL COMMITMENT:
The Webinar charges are Kshs. 1,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for 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.
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 +254 719 074 000, (+254) 733 856262 or via email to onlinelearning@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.
