THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
Financial Reporting Workshop
Venue: Hilton Hotel – Nairobi
Date:2nd – 3rd May 2019
Time: 9am to 4pm
Introduction
Financial reporting is a dynamic area which has been evolving over time to match the everchanging demands within the business environment. The primary goal of financial reporting in organizations is to provide enough information for decision making by both internal and external stakeholders, and qualities such as uniformity and comparability of statements across organizations are crucial in achieving this goal. To be of value, the statements should also reflect the true and fair financial position of an economic entity.
International Financial Reporting Standards (IFRS) set common rules so that financial statements can be consistent, transparent and comparable around the world. They specify how companies must maintain and report their accounts, defining types of transactions and other events with financial impact. IFRS were established to create a common accounting language, so that businesses and their financial statements can be consistent and reliable from company to company and country to country.
As new standards and interpretations continue to be pronounced, management and professional accountants are required to keep abreast with developments and ensure compliance. Recent issuances significantly impact areas of accounting that include measurement, recognition, disclosures and presentation of financial statements. In certain cases, they have the potential to impact other aspects of entities such as business structures and information systems.
Cognizant of this fact, ICPAK has organized this two-day workshop intended to appraise delegates on recent developments in IFRSs and IASs as well as delve into specifics of applying new standards which have recently been issued. The forum will cover various topics including:
IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors
IFRS 16 – Accounting for Leases: A Case Study and lessons from early adoption
IFRS 7 – Financial Instruments: Disclosures
IFRS 9 – Financial Instruments: IFRS vs Prudential Guidelines
IFRS 15 – Revenue from Contracts with Customers: Disclosure requirements
IFRS 13 – Fair Value Measurement: Disclosure requirements
IFRS 17 – Insurance Contracts
Integrated Thinking and Reporting for Sustainability
Objectives
The specific training objectives will be as follows;
- Obtain understanding and application of various IFRSs including the recently issued standard on insurance contracts
- Understand the disclosure requirements for disclosure of revenue from contracts with customers and fair value measurements
- Appreciate the requirements of the new standard for accounting for leases
- Obtain a deeper understanding of the divergence between IFRS requirements and Prudential Guidelines as required by industry Regulators
- Understand the motivation behind and components of sustainability reporting and how these will impact business performance
Financial Commitment
Below are workshop charges
| Category | Early Bird Registration
Booked & Paid for before 22nd April 2019 |
Normal Registration
Booking & Payments or LPOs / LSOs received after before 22nd April 2019 |
| Associate Members | 10,000 | 11,000 |
| Members | 15,000 | 16,000 |
| Non-Members | 25,000 | 26,000 |
| International Delegates | USDs 350 | USDs 360 |
Charges cover workshop fees, materials, meals, meals and e-certificates
TARGET
Tax Agents, consultants, monitors, compliance officers, finance and non-finance staff involved with tax matters, Tax practitioners in private and public sectors, Tax Accountants, Officers of KRA, National Taxpayers Association etc
CPD UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 14 CPD points upon successfully attending the seminar.
TRAVEL & ACCOMMODATION (VERY IMPORTANT)
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 DIET
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
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 workshop intends to attract over 120 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 channeled to us via telephone calls on +254 719 074 000/ 308 or via email to memberservices@icpak.com or brenda.imali@icpak.com . We encourage members to regularly visit our website www.icpak.com for updates.
