PRACTICAL ETHICS & COMPLIANCE SEMINAR (MANDATORY TRAINING))

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)

PRACTICAL ETHICS & COMPLIANCE SEMINAR (MANDATORY TRAINING)
Theme: Enhancing Professionalism and Personal Values for Professional Accountants
Date: 27th – 31st March 2023
VENUE: SAROVA WHITESANDS BEACH RESORT & SPA MOMBASA

TIME: 9 AM – 4 PM
This is one of the mandatory trainings for practicing certificate consideration.

OVRERVIEW

At its simplest, ethics is a system of moral principles or rules that say what is and what is not acceptable.

Ethics are largely described as the principles that guide a person’s behaviour while undertaking day to day activities. Occasionally, in certain jurisdictions some ethical values get enacted as laws. Governing laws are structured rules utilized to govern a society whereas ethics are a set of moral values an individual establishes. Ethical behaviours apply to any employee, team leader or supervisor. They should display a behaviour that is honest and fair in their relationship with their co-workers and clients. A culture of ethical businesses is vital to the success of any business.

A leader who personifies ethical behaviour will be fair in all situations. In turn, employees will trust their leadership team and aid in achievement of the organizational goals. Ethical behaviour includes honesty, integrity, fairness and a host of other positive traits. Businesses are expected to act in an ethically responsible manner, carrying out its activities in a legal manner even when the business has nothing to benefit from being ethical. Professional ethics provides a means to solve certain ethical problems related to a particular profession. Professional ethics contain the ideals that govern the conduct of a professional or a group of them. This means that an ethical business will act in a socially responsible way, doing what is right even if it is not required to do so by legislation or regulation, and regardless of the impact it might have on profits. Professionals are required to practice reasonable, responsible and transparent behaviour that consciously avoids harmful actions by embodying high ethical standards.

Professional ethics in business is paramount and more so in the accounting profession where the end user of information and services has to place trust in the professionals. Professional accountants are constantly faced with ethical dilemmas such as lack of independence in practice, conflict of interest, falsified financial reports, and facilitating or receiving bribes etc however they are required to carry out their roles in a rational, accountable and transparent manner by upholding high ethical standards to avoid unethical actions.

Consequently, the rise in ethical issues all over the world means that all professionals contribute to at least a percentage and even the most properly regulated professional bodies globally have developed a set of standards that have to be adhered to by the members. This explains the need for professional ethics and their application for members. It is in this context Institute has organized a three-day physical workshop to explore the ethical considerations which are practically applicable in the workplace and as expected professionally.

The International Ethics Standards Board for Accountants (IESBA) develops and promotes the International Code of Ethics for Professional Accountants (including International Independence Standards). The IESBA also supports debate on issues related to accounting ethics and auditor independence. In 2018, the IESBA issued a revised and restructured Code which came into effect in June 2019. The revised and restructured Code includes many substantive revisions, including in relation to non-compliance with laws and regulations (NOCLAR). The 2018 version of the Code makes it clear that professional accountant, in whatever capacity they are engaged, cannot turn a blind eye to NOCLAR. The provisions in the Code, including NOCLAR guide ethical behavior and help professional accountants uphold their responsibility to act in the public interest. The IESBA Code also includes a principles-based definition of what constitutes a network. The definition covers the way a group of companies operate and present themselves, and is consistent with the Statutory Audit Directive.

All accountants are expected to subscribe to this code of ethics. With the growing necessity for patriotic and nationalistic individuals to step up to lead the country in every sector that they are involved in, it is in this recognition that the Institute has organized for the Practical Ethics and Compliance Seminar to address:

Topics

1. Overview of the Code of Ethics for Professional Accountants-Practical Application of International Code of Ethics for Professional Accountants
2. Important ethical requirements that professional accountants should keep in mind:

• Responsibilities
• The Public Interest
• Integrity
• Objectivity and Independence
• Due Care
• Scope and Nature of Services

3. Ethical dilemmas for professional accountants in public and private sectors
4. Professional Ethics in Practice – Considerations for the Accountant, personal values and ethical conduct for the professional accountant
5. The Corruption Challenge in Kenya and Ethical Perspectives-Lessons from the EACC on ethics for professionals and the fight against corruption
6. Assessing the true cost of corruption and unethical behavior to the business
7. Personal values and ethical conduct for the professional accountant
8. Professional Misconduct and the Ethical Link – Insights from the ICPAK Disciplinary Committee
9. Building an Ethical Organization and Capability Among Professionals
10. Role of the accountant in sustainable governance
11. Ethical issues in the workplace/business
12. Emerging issues and trends on ethics, risk, and reporting
13. Broader view of board diversity to include ethnicity and race
14. Setting up an effective internal controls’ framework in support of organizational ethics and integrity
15. Organisational Culture and its impact on ethics for professionals: Effective tone at the top in setting the right culture
16. Ethics and Leadership

• Accounting Professionals as an ethical role model and guardian of integrity
• Integrating integrity into business strategy and corporate culture
• Mobilizing people to make a positive change in the world and promote public values
• Practical approaches of reducing corporate failures

17. Developing resilience- Mental health for professionals

TARGET AUDIENCE

This seminar is not limited to the accountancy profession only, staff from other units are highly encouraged to attend.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.

Financial Commitment:

Note: Delegates are required to make their own travel and accommodation arrangements. Seminar charges cater for training fee, training materials, certificate and meals during the event.

Online Booking:

We call on Conference participants to note that booking is available only online at www.icpak.com/events.

Delegates are reminded to note that online booking for training sessions is MANDATORY.   This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.

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)