THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
Public Sector Financial Reporting Workshop – Northern Branch
Date: 15th to 16th March 2023
Time: 09.00am -3.30pm
Venue: Mandera TBC
OVERVIEW
Financial reporting has substantially evolved overtime to include new standards and emerging concepts that dictate a change of reporting the economic transactions in the public sector. Effectively, the public sector has equally become dynamic in its operations, necessitating the public sector financial management environment to undergo constant re-evaluation. This will enable better understanding of the changing demands and requirements of this crucial sector.
From a legal framework perspective, the Public Finance Management (PFM) Act 2012 and the PFM Guidelines 2016 provide a blueprint of how public finance resources must be accounted for to achieve accountability and transparency in their utilization. This consideration has a close link to the Finance Act 2021 which also provides the legal authority and power for the government to collect taxes and deploy the tax resources in the development and growth of the Kenyan economy.
It is against this background that the Institute has organized this seminar to discuss these critical matters which affect the financial reporting in the public sector, the following key matters will form the focus of discussions:
- Preparation of financial statements effectiveness of financial reporting standards:
- Legal requirements and Presentation templates
- Components of financial statements
- Key considerations and timelines
- Quality assurance mechanisms
- Effective budgeting considerations for the counties and other public sector entities
- An overview of recurrent and cross-cutting audit issues for the public sector.
- IPSAS 33 First time adoption of Accrual Accounting and status of transition to Accrual accounting framework in Kenya
- Emerging developments in public sector financial reporting
- Public Financial Management
TARGET AUDIENCE:
This workshop will be useful to all professional Accountants and those aspiring to join the profession.
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.
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)
Further requests can be channeled to us via telephone calls on +254 719 074 100, or via email to Ladhan Abdi at ladhan.abdi@icpak.com with a copy to memberservices@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.
