THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
IFRS Seminar (Mandatory Training) -Eastern Branch
Date: 9th -10th March 2023
Time: 09.00am -3.30pm
Venue: Kyaka Hotel, Machakos
(This is one of the mandatory trainings for Practicing Certificate consideration)
OVERVIEW
International Financial Reporting Standards (IFRSs) are designed to bring consistency to accounting language, practices, and statements, and to help businesses and investors make educated financial analyses and decisions. The IFRS Foundation sets the standards to “bring transparency, accountability, and efficiency to financial markets around the world, therefore fostering trust, growth, and long-term financial stability in the global economy.” Companies benefit from the IFRS because investors are more likely to put money into a company if the company’s business practices are transparent.
The standard setting space is also undergoing rapid developments to keep pace with the global commercial trends and economic transitions. The IFRS Foundation and the International Accounting Standards continue to develop and issue new standards while maintaining or amending the existing ones to meet the everchanging business and commercial needs. This calls for the professional accountant and accounting practitioners to keep abreast of these developments to ensure proper and informed contribution to business performance and growth.
The IFRS seminar has been carefully tailored to meet the financial reporting requirements in view of the recent and current developments in corporate reporting under the IFRS framework. The virtual seminar will give the participants an opportunity to learn some of the latest developments in financial reporting and get details on the existing reporting standards.
The training will explore the different aspects relevant for effective implementation of the IFRS and related professional standards and judgments.
The areas of focus to be discussed during the training include:
- IAS 1 – Preparation of financial statements
- IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 10 – Events after the reporting period
- IFRS 16 – Accounting for Leases
- FRS 15 – Revenue from Contracts with Customers: Disclosure requirements
- IAS 37 – Provisions, Contingent Liabilities and Contingent Assets
- Future developments and regulatory implications on financial reporting
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully completion of the workshop.
FINANCIAL COMMITMENT:
The workshop charges are Kshs. 10,000. Charges will cater for the workshop fees, learning materials, and e-certificates of attendance.
TARGET AUDIENCE:
This workshop will be useful to all professional Accountants and those aspiring to join the profession
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for the workshop is mandatory on https://www.icpak.com/event-registration/Online Booking We call on workshop participants to note that booking is available only online at www.icpak.com and will close one day before the training session. Delegates are reminded to note that online booking for the training 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)
We encourage members to regularly visit our website https://www.icpak.com for updates.
