IPSAS Workshop - North Rift

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

IPSAS WORKSHOP

NORTH RIFT BRANCH

DATE: 4th – 5th May, 2017

VENUE:   Sirikwa Hotel

Introduction

In the bid to promote transparency and good governance in the public service, the Public-Sector Accounting Standards Board was constituted and the International Public Sector Accounting standards were endorsed in Kenya. A major prerequisite to the efficient functioning of the board and effective adoption of the International Public Accounting Standards is having staff in the public service and the public who not only have a thorough understanding of IPSAS but also can design and operate sound financial systems for collecting, sending and accounting for public expenditure. It is for these reasons that the Institute of Certified Public Accountants of Kenya has organised a 2 days IPSAS workshop for participants who would wish to broaden their knowledge and deepen their skills in the public sector financial reporting and financial management.

This workshop aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability. The seminar will be a refresher on reporting standards of the above target audience and provide guidance on compliance

The workshop will highlight on:

1. Transitioning to the Accrual Basis of Accounting: Moving to accounting under International Public Sector Accounting Standards (IPSAS) can be a challenging endeavour, ensuring proper convergence to IPSAS entails not only a vast amount of work in the accounting arena of any given public sector entity or government but also often implies major changes in business processes and practices. This session will dwell on:

1. Overview of IPSAS 33 First-Time Adoption of Accrual Basis IPSASs
2. Transition paths
3. Recommendations for transitioning from cash or modified cash basis to the accrual basis of accounting for a public sector.

1. IPSAS Overview with IFRS Comparison: Appreciate the implications of transitioning to IPSAS, including change management issues with a deeper understanding of the application of IPSAS financial statement requirements to public sector entities, including accounting policies and disclosures as well as understand the rules relating to first-time adoption of IFRS and IPSAS and comprehend the major similarities and differences between IFRS and IPSAS.
2. Key Provisions of the PFM Act 2012
3. The benefits, Challenges and way forward of IFMIS in Kenya
4. Budget management: the discussions will be based on the role of budget management within the financial control framework, the connecting strategic planning with annual budgeting, identifying revenue and cost drivers for budget setting and management, developing tactics to respond to budget variances and forecasting budget outturn.

Target Audience:

This workshop will be most beneficial to delegates drawn from both the public and private sectors particularly; Accountants in the public sector, Audit practitioners involved in the public sector, Scholars and consultants for public entities.

Workshop Charges and CPD Units

The charges for the two-day IPSAS Workshop are as follows:

Members of ICPAK and of reciprocating professional bodies will earn 14 Structured CPD Units upon full attendance.

Online Booking

Kindly note that booking for the workshop is available only online at https://www.icpak.com/event/ipsas-workshop-north-rift/

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).