THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
The 2nd East African Digital CPA Conclave – Recording
Theme: Enriching the Accountancy profession through technology
Date: 15th – 16th September 2021
Time: 9:00 am- 3:30 pm
Venue: Virtual Symposium
OVERVIEW
Accountants have always exploited emerging technologies to help them to complete their tasks more accurately and quickly. Heading into the 21st century, technology trends in cloud, big data, mobile and social collaboration are converging to change the ways in which we consume information technology resources, share knowledge and experiences, and access products and services. At the same time, these trends are also underpinning and influencing developments in cyber security, digital service delivery, robotics, augmented and virtual reality, and artificial intelligence. A ‘new normal’ is emerging. This is changing the ways in which accountants communicate and collaborate with those in the businesses they work with and for and shaping new working patterns. It is providing accountants with the opportunity to automate and de-skill time-consuming and repetitive work and focus on higher value work so that they can consolidate their role as advisers on finance and business. By being informed about technologies as they evolve, considering new technologies as they emerge, and then assessing their implications for finance professionals and those they serve and support, accountants can be prepared to minimize the burdens and maximize the benefits. In this way the profession can exploit technology and potentially change the scope of what it means to be an accountant or auditor.
The emergence and development of technology are some of the critical arguments that support a paradigm shift in audit missions. The audit of the future is likely to have much less human-to-human interaction related to highly repetitive and rules-based tasks. Interface tools could be used to automatically share information in real time with the external auditor’s Artificial Intelligence (AI) tool(s), which in turn could analyze, test and flag anomalies or issues that require the auditor’s attention. This would focus the human interaction on high-risk transactions as opposed to routine inquiries.
Considering the fact that foundation of our profession is trust, without it, we have no means of acting as an objective, independent intermediary between information producers and information consumers. The auditors and accountants can deliver much with the help of the technology, however there is a risk of cybersecurity that comes along with technology. The cyber-attacks can result in the theft of valuable, sensitive data like accounting records and other valuable company source documents. Cybersecurity risks pervade every organization and aren’t always under IT’s direct control. Business leaders are forging ahead with their digital business initiatives, and those leaders are making technology-related risk choices every day. To meet the market expectations, Audit professionals and Accountants will be forced to be digitally compliant in all operations but institute the cybersecurity mitigation measures.
The East African digital CPA conclave seeks to showcase how emerging technologies will improve the Accountancy Profession during and after the pandemic period.
The following topical areas will be covered:
• The Future of Financial Statements Auditing
• Implementation of robotics and AI in various Accountancy Roles
• Implementation of smart ERP systems
• The use of power BI systems to aid in decision making and transparency
• How technology has affected the preparation of financial statements
• Expectation Gaps
• Auditing with Automation and Analytics
• Best Practices for cyber defense and protection
• Emerging Cyber security threats
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 10 Structured CPD Units upon successfully completion of the Webinar.
FINANCIAL COMMITMENT:
The Webinar charges are Kshs. 5,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions 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)
PARTNERSHIP OPPORTUNITIES
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or enquiries please email raphael.nguli@icpak.com.
For further inquiries, kindly contact Fredrick Otwori at fredrick.otwori@icpak.com with a copy to memberservices@icpak.com. Reach us on call: +254 719 074000/129
We encourage members to regularly visit our website https://www.icpak.com for updates.