THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Free webinar on Category T and M licenses
Theme: “Enhancing the Accountancy Practice in a diverse environment”
Date: 22nd October 2021, 4.00 to 6.00pm
Venue: Webinar
For many years now in Kenya, Auditors have been mistaken to be the “Accountant” providing audit and assurance services with no regard to non-assurance services. non-assurance services have never been regulated or much regard or attention placed. Provisions of IESBA Code seeks to ensure that they continue to support a rigorous approach to independence for assurance services, particularly audits of financial statements.
Although the independence requirements contained in the Code of IESBA were modified in 2009. It has taken the Institute over ten years to implement and regulate the non-assurance services. The multiple licenses regime was introduced by the ICPAK council in the year 2019 and took effect on 1st January year 2020. This was necessitated by:
• Amendments to the Accountants Act, made through the finance Act 2018 which redefine Accountancy to include practice in accounting, financial reporting, control systems, systems auditing, auditing, assurance, forensic accounting and auditing, finance, financial management, public finance management, taxation, financial risk management, management accounting and advisory services related thereto.
• Need to regulate both the assurance and non-assurance services.
Members who desire to practice as accountants may apply for practicing certificate under different capacities as summarized below:
• Composite license (category “C”)
• Audit & assurance license (category “A” )
• Tax license (category “T”)
• Accounting, controls and consulting license (category “M”)
Applying for practicing certificate, one is required to be a member of the Institute in good standing and may apply for grant of practicing certificate under any of the categories of licenses listed above. Once successful, a member shall be granted an annual license to be awarded by the Registration & Quality Assurance Committee after a practicing number has been allocated.
All qualifying Practicing members shall be issued with firm license upon application and compliance with all the requirements on an annual basis.
Since the introduction of the multiple licenses’ regime, a few members have applied for categories A and C categories of license with minimum attention to categories T and M perhaps due to lack of information. It is on the backdrop of this that the council has thought it wise and have organized for an evening webinar to shade more light to the two categories of licenses.
The webinar will cover the following topical areas;
The reasoning behind the introduction of Categories T and M Licenses
The process of applying and qualifying for the licenses under Categories T and M Licenses
Benefits of applying and practicing under Categories T and M Licenses
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.
