Joint IFRS® Foundation, PAFA and ICPAK IFRS Conference and IFRS for SMEs Workshop

Overview

The IFRS® Foundation, Pan African Federation of Accountants (PAFA) and the Institute of Certified Public Accountants of Kenya (ICPAK) will jointly host the IFRS Conference and IFRS for SMEs workshop on 24^th to 26^th August, 2016 in Nairobi, Kenya. This joint conference will focus on implementation of key new standards namely the IFRS 9-Financial Instruments, IFRS 15-Revenue from Contracts with Customers and Agriculture (including fair value and bearer-plant amendments to IAS 16). Updates on major IASB projects, IFRS application and implementation issues in respect to IFRS 16 Leases, IFRS regulatory issues and rate regulated activities will be discoursed. Fair value and other cross-cutting issues in measuring assets and liabilities in accordance with IFRS and the IFRS for SMEs will also be discussed.

The conference will bring together financial reporting leaders and professionals, regulatory bodies and members of the International Accounting Standards Board (IASB) and those with an interest in International Financial Reporting Standards (IFRS).

Invited speakers and panel members include

• Hans Hoogervorst, IASB Chairman
• Hugh Shields, IASB Executive Technical Director
• Darrel Scott, IASB Member
• Wei-Guo Zhang, IASB Member

Conference additions

1. A discussion on coping with disruptive technology and information overload
2. Excursions to the National Museums of Kenya, Nairobi Animal Orphanage and Game drive to the Nairobi National park.

ICPAK Members will be awarded 20 CPD hours

ACCOMMODATION: for accommodation arrangements, please follow the following link to the hotel’s website http://www.safaripark-hotel.com/?page=accomodation-overview

BOOKING: All booking must be done online. Log on to https://www.icpak.com and click on CONFERENCES tab.

DEADLINE: The deadline for booking is 15^th August 2016

NOTE: Please note that the conference charges include sessions, presentations, stationary, meals and reception cocktail.

Tours: Delegates who may want to go for tours will pay an additional US$ 60

DRAFT PROGRAMME:

A two-and-a-half-day conference for senior financial executives, technical managers and standard setters from PAOs and other interested parties

Day 1—Wednesday 24 August 2016

Pre‑conference workshop

09:00 Registration

09:30–12:00 IFRS for SMEs workshop

Conference Programme

12:00 Registration and Refreshments

13.00 Lunch

14:00 Opening Ceremony

Host: CPA Dr. Patrick Ngumi, Chief Executive, ICPAK

Host: FCPA Fernandes Barasa, National Chairman, ICPAK

Chief Guest: FCPA Bernard Ndung’u, Director General, Accounting Services – National Treasury

14:45 The future of financial reporting

Hans Hoogervorst, IASB Chairman

15:10 Keynote address

CPA Dr. Jim McFie

15:30 IASB update

– Major IFRS Standards

– Implementation

– Research projects

Presenters: Darrel Scott, IASB Member and Hugh Shields, IASB Executive Technical Director

16:00 Coffee break

16:30–18:00 Break-out sessions: implementing new IFRS Standards

Choose one of the following:

1. Implementing IFRS 9 Financial Instruments

• Darrel Scott, IASB Member (and two other panelists to be communicated)

2. Implementing IFRS 15 Revenue from Contracts with Customers

• Wei-Guo Zhang, IASB Member (and two other panelists to be communicated)

3. Agriculture (including fair value and bearer-plant amendments to IAS 16)

• IASB (TBC) (and two other panelists to be communicated)

18:30–20:00 Reception Cocktail

Day 2—Thursday 25 August 2016

Conference Programme Day 2

09:00 IFRS application issues

Chair: Darrel Scott, IASB Member

Panellists include:

• Hugh Shields, IASB Executive Technical Director

(and three other panellists to be communicated)

10:30 Tea/Coffee break

11:00 Break-out sessions: IASB projects

Choose one of the following:

1. Disclosure initiative

• Wei-Guo Zhang, IASB Member

2. Accounting for Islamic finance

• Darrel Scott, IASB Member

3. Conceptual Framework

• IASB (TBC)

4. Extractive activities

• Hugh Shields, IASB Executive Technical Director
• (and two other panelists to be communicated)

12:30 Lunch

13:30 Break-out sessions: IFRS application issues members and staff

Choose one of the following:

1. Implementing IFRS 16 Leases

• Darrel Scott, IASB Member
• (and two other panelists to be communicated)

2. IFRS regulatory issues

• Wei-Guo Zhang, IASB Member

(and two other panelists to be communicated)

3. Rate regulated activities

• Hugh Shields, IASB Executive Technical Director
• (and two other panelists to be communicated)

End of Day 2

Day 3—Friday 26 August 2016

Conference Programme Day 3

09:00 Soft Topic: Coping with disruptive technology and information overload

10.30-18.00 Excursions: National Museums of Kenya, Nairobi Animal Orphanage and Game drive

End of Conference

Morning of Wednesday 24 August 2016—Nairobi, Kenya

To enhance understanding of fair value and other cross-cutting issues in measuring assets and liabilities in accordance with IFRS and the IFRS for SMEs, an interactive half-day workshop will be held immediately before the IFRS Conference, on the morning of Morning of Wednesday 24 August 2016.

09:00 Registration and refreshments

09:30 Welcome: ICPAK

09:35 Applying the SME hierarchy:

• IASB (TBC)

10:15 Implementing IFRS for SMEs 2015:

• Speakers TBC

11:15 Considerations when next amending the IFRS for SMEs:

• IASB (TBC)

12:00 End of workshop