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)
THE FINANCIAL REPORTING FOR COUNTY GOVERNMENTS & OTHER PUBLIC-SECTOR ENTITIES
Theme: Achieving efficiency in management of public resources
DATE: 28TH FEBRUARY -4TH MARCH 2022
Time: 09.00am-03.30pm
Venue: Pride Inn Paradise Beach Hotel, Shanzu, Mombasa

OVERVIEW

The dynamic public sector financial management environment requires constant re-evaluation to enable one’s understanding of the changing demands and requirements of the public sector. This critical sector in the economy of the country brings about many considerations which affect the service delivery to citizens at both the national and devolved government levels. County government particularly face unique challenges in the administration and accounting for public resources.

The Public Finance Management (PFM) Act 2012 and the PFM Guidelines 2016 provide a blue-print of how public finance resources must be accounted for in order to achieve accountability and transparency in their utilization. This consideration has a close link to the Finance Act 2020 which also provides the legal authority and power for the government to collect taxes and deploy the tax resources in the development and growth of the Kenyan economy.

In spite of 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. This situation has been complicated further by the COVID-19 pandemic which has disrupted the existing frameworks and regulations which were already in place to guide efficient utilization of public finances.

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.

It is against this background that the Institute has organized a five-day Conference to discuss these critical matters which affect the country and seek to address the underlying endemic concerns on public resources utilization both at the national and county levels. To guide the discussion during the Conference, the following matters will form the focus of this very important forum;

1. What are the key challenges faced by the counties in financial reporting and Public Finance Management?
2. How does the aspect of good governance contribute to the preparation of transparent and quality financial reports?
3. What skill set and / or experience does one require for the finance and accounting teams at the counties to ensure proper public financial management?
4. How has FiRe Award contributed to the quality and level of financial reports prepared by the counties?
5. What is the impact of technology in financial reporting and public financial management for the counties
6. Dealing with the aspect of Pending Bills and strategies to ensure financial sustainability of the counties.

The following topics will be discussed during the Conference.

1. The impact of technology in financial reporting and public financial management for the public sector.
2. A reflection on the Finance Act 2020 and impact on economic development
3. Update of selected IPSAS and application for transparency and accountability in the public sector
4. The PFM Act 2012 and glaring loopholes – is it time to re-consider the provisions of this statute?
5. Overview of the ethical considerations for professionals- Lessons from EACC
6. Redefining County Taxation and impact on Suppliers to County Governments
7. An overview of Improvements to IPSAS 2021
8. Effective governance and oversight considerations for county governments and other public sector entities
9. Enhancing financial reporting for the County governments and other public sector entities
10. Effective budgeting considerations for the counties and other public sector entities
11. An overview of recurrent and cross-cutting audit issues for the public sector.
12. Feedback from the FiRe Award on the major challenges and strides achieved in Financial Reporting
13. IPSAS 33 First time adoption of Accrual Accounting and status of transition to Accrual accounting framework in Kenya

Continuous Professional Development Units (CPD Units):

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

Target Audience:

Accountants and Finance Officers in the County Governments, Public sector accountants, Chief Finance Officers in SAGAs, Finance Directors and Managers in entities dealing with the government, Tax Experts, Engagement Partners and Key Audit staff, SME sector accountants, Auditors, Accounting Practitioners, Tax Practitioners, Professionals working in County Governments, Academia, employees of the NPO Sector.

Financial Investment 

Note: Delegates are required to make their own travel and accommodation arrangements. Symposium 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 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)

PARTNERSHIP OPPORTUNITIES
The conference 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. Sponsorship opportunities range from cocktail, gala, media sponsorships, exhibitions and advertising. For more information or inquiries please email raphael.nguli@icpak.com.

For further inquiries, kindly contact Andrew Kavoo at  andrew.kavoo@icpak.com with a copy to  memberservices@icpak.com. Reach us on call: +254 719 074000/129

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

Welcome