THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
CFOs FORUM
Theme: Value Creating Through Sustainability Reporting and Technology
Date: 28th June 2024
Time: 07:00am – 11.30am
Venue: Nairobi
OVERVIEW
The CFO role is a critical function in any organization. The CFO plays a key strategic part in positioning the organization for growth and future sustainability. In line with these responsibilities, it has been reported by CFOs that both the scale and pace of decision-making are vastly different than they were for their predecessors. This has been necessitated by the ever changing and dynamic business environment.
To ensure success, CFOs need to be at the fore front in investing in technologies and capacity building initiatives within the business to measure and reduce carbon emissions, prioritize the reduction of environmental degradation and review policies and practices across business units that support their boards to prioritize ESG. The emergence of new standards and reporting frameworks case in point -the IFRS S1 & S2 on sustainability and climate related disclosures have made it more complicated for CFOs to keep abreast and ensure adherence to the guidelines while managing the business performance operations efficiently.
Sustainability reporting broadly involves disclosure of a company’s environmental, social, and governance goals and communicating the company’s progress and efforts to reach those goals. Sustainability’s three main pillars represent the environment, social responsibility, and the economic aspects. These pillars are also informally referred to as people, planet, purpose, and profits.
In today’s complex business landscape, businesses must prioritize sustainability reporting through various strategies including integrating sustainable practices in implementing their overall business strategies. Considerations around compliance with legal and regulatory guidelines, corporate responsibility and access to capital markets all hinge on effective ESG reporting. Governments and regulatory bodies are establishing ESG standards and frameworks to guide responsible business practices, and investors are placing an even greater emphasis on companies that are not only profitable but also responsible and sustainable.
It is based on this background that the Institute has organized a forum for like-minded CFOs to address most of the areas indicated above and to share challenges and opportunities for maximum value in their operations. The forum sessions are geared towards helping the CFOs to discuss the common methodologies for adoption in reporting, common misconceptions and to discuss the emerging challenges on sustainability reporting and technology.
The following topics will be covered during the Forum:
- The role of CFOs in Sustainability Reporting
- Implementation of technology to assist in sustainability reporting.
- Overview of sustainability reporting frameworks and the new IFRS S1 & S2 Standards
- Approaches and challenges in measuring Scope 1, 2 and 3 Carbon (Greenhouse Gas) emissions.
- Practical approach to preparation of a sustainability report
- Materiality considerations in ESG disclosure and how to conduct materiality mapping for relevant ESG topics.
- Addressing Greenwashing and other ESG disclosure risks through effective assurance and validation of reported indicators
Practical illustrations and a panel discussion approach will be used during the discussions.
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 5 CPD Units upon successfully attending and participating in the forum.
Target Audience:
Chief Finance Officers, Finance Directors and Finance Managers
Cost:
Charges for the forum will be Kes7,000/= which will cover fees, and an e-certificate of attendance.
Online Booking:
We call on Webinar participants to note that booking 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. 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)
