THE 41ST ANNUAL SEMINAR EDITION-1(physical option)

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

THE 41ST ANNUAL SEMINAR EDITION 1
Hybrid Event: Sarova Whitesands Beach Resort & Spa, Pride Inn Paradise Hotel, Mombasa and Virtual
Dates: Monday 20th May to Friday 24th May 2024
Time: 09.00am-03.30pm

Theme: Accountancy Profession’s Contribution to National Growth and Development

ABOUT ICPAK – THE HOST

The Institute of Certified Public Accountants of Kenya (ICPAK) is a regulatory body mandated to regulate and coordinate the activities of qualified and registered Certified Public Accountants (CPAs) in Kenya – including promoting research into the subject of accountancy and finance and related matters, publication of books, periodicals, journals and articles in connection therewith; promoting the international recognition of the Institute, advising the Examination Board on matters relating to examinations standards and policies, advising the Minister for Finance on matters relating to financial accountability in all sectors of the economy and setting and enforcing standards of professional practice such as accounting, auditing and ethical standards. The Institute is established by an Act of parliament – The Accountants Act and has been in existence since 1978.  Over its long history it has registered over 35,000 members. Its members work in diverse sectors of the economy as accountants, financial experts, auditors and financial consultants. Over 1000 of our members have emigrated and are working beyond the borders of Kenya. Members of the Institute are present in 41 different countries around the globe.

ANNUAL SEMINARS – A BRIEF HISTORY

Each year for the last 40 years, ICPAK has maintained a rich tradition of congregating once a year to reflect on the profession and emerging issues affecting the nation.  The last seminar followed the same pattern as it sought to reinforce the role of professional accountants in safeguarding public interest.  The Both editions of the 40^th Annual Seminar attracted an average of 3,500 participants on both physical and virtual attendance, largely drawn from Kenya but with representation from Uganda, Tanzania, Rwanda and Mozambique.  The current event is targeted to attract a wider representation of East Africa and the continent at large.

Due to limited seats the Institute has held two Annual Seminars since 2021to enable participation by most members. This year, the Institute shall also hold two Annual Seminars dubbed Edition 1 and Edition 2 to accommodate all the professionals. The first edition shall be held from 20^th -24^th May 2024 while the second one for this year shall be held on 18th – 22nd November 2024.

This year’s events mark 41 years since the time when the Institute held its first Annual Seminar in 1984. This demonstrates resilience and commitment towards the Institute’s mandate and the Accountancy profession. Throughout these decades, the Annual Seminar has acted as a beacon of hope to the profession.

Occasioning from the limited seating space and to provide comfortable delegate experience, the Institute shall hold the Seminar in two physical venues i.e Sarova White sands and Pride Inn Paradise Hotel in Mombasa, Kenya with an option of live streaming and allocation of speakers and panelists across both venues. The delegates’ allocation to both venues shall be done based on date of payment, with the first venue being allocated the early paying delegates. The seminar shall also be streamed on the virtual platform where some delegates and speakers shall be participating.

 THE 41^st ANNUAL SEMINAR EDITION I SUB-THEMES AND ORGANIZATION

• Day One: Monday 20^th May 2024- Arrival and Registration
• Day Two: Tuesday 21^st May 2024- Accountancy Profession & The National Growth Agenda
• Day Three: Wednesday 22^nd May 2024- Transformative Macro & Micro Economic Analysis
• Day Four: Thursday 23^rd May 2024- Innovation, Technology & Ethics
• Day Five: Friday 24^th May 2024- Spurring personal growth & prosperity.

OVERVIEW OF SEMINAR THEMES

Kenya has made significant political and economic reforms that have contributed to sustained economic growth, social development, and political stability gains over the past decade. However, its key development challenges still include poverty, inequality, transparency and accountability, climate change, continued weak private sector investment and the vulnerability of the economy to internal and external shocks.  To eradicate poverty by 2030, Kenya will need a combination of higher growth, more inclusive growth, and growth that is increasingly driven by the private sector and translates into more rapid poverty reduction.  The role of national leadership will thus play a pivotal role in spurring growth both at the county and national levels through development and implementation of transformational policies.

The most important factors in macroeconomics involve gross domestic product (GDP), unemployment, inflation and growth rate etc. Microeconomics deals with various issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, and more. According to the National Treasury & Economic Planning, the Kenyan economy is the largest in East Africa. After independence, Kenya promoted rapid economic growth through public investment, encouraged smallholder agricultural production and provided incentives for private (often foreign) industrial investment. Additionally, Kenya is a regional transportation and financial hub.

Kenya has experienced continued growth in GDP over the last few years, supported by ongoing public infrastructure projects, strong public and private sector investment and appropriate economic and fiscal policies, reflecting the broad-based and diversified nature of the Kenyan economy.

Kenya’s financial sector is vibrant, well developed and diversified in the region and has highest financial inclusion in the region and globally. The banking sector is well capitalized, profitable with capital adequacy and liquidity ratios above the recommended thresholds. Macroeconomic stability has been preserved over the last few years with inflation, interest rates and exchange rates remaining largely stable, thanks to the prudent monetary and fiscal policies.

The world is changing fast, and so are the roles of finance and accounting professionals. Professional accountants need to have the capability to strengthen organizations’ corporate governance and must also be fully equipped to deal with the rapidly changing environment in which they operate. The automation of many traditional accountancy tasks means that the role of the accountant is evolving. Sweeping disruption of the accountancy profession is imminent. Massive technological changes and shifting consumer trends demand a new approach to how the industry creates value for clients. Some services are more vulnerable to disruption than others. Compliance will be increasingly automated going forward and limited advisory services will follow that trend. Automated processes can provide the bulk of services with oversight, while accounting professionals will focus on offering expert advice and insight, strengthening customer relationships in the process.

In such stringent times, now more than ever it is very critical for professionals to consider delving into entrepreneurship and diversified investments to solidify and grow their wealth. As professional accountants, these skills will come in handy both for personal development as well as in various consultancy and advisory roles. These among other pertinent topics as depicted below will form the basis of discussion during the seminar.

KEY TOPICS FOR DISCUSSION DURING THE SEMINAR

The following key topics shall be discussed during the 41^st Annual Seminar Edition 1:

• Day One: Monday 20^th May 2024- Arrival and Registration
• Day Two: Tuesday 21^st May 2024- Accountancy Profession & The National Growth Agenda
• Day Three: Wednesday 22^nd May 2024- Transformative Macro & Micro Economic Analysis
• Day Four: Thursday 23^rd May 2024- Innovation, Technology & Ethics
• Day Five: Friday 24^th May 2024- Spurring personal growth & prosperity.

Accountancy Profession & The National Growth Agenda:

• Accountants in practice- Cross cutting opportunities and challenges facing accountants in practice.
• IPSAS Accrual accounting: Overview of benefits and expected milestones in government migration to accrual accounting.
• Accountancy Profession’s Contribution to National Growth and Development
• Overview of the Government’s scorecard and key initiatives planned towards national growth and transformation.

Transformative Macro & Micro Economic Analysis

• The role of double taxation treaties in fostering a conducive environment for investment and cross-border transactions
• State of the Nation: Overview of macro and micro economic variables affecting the country’s growth and stability
• The role of national leaders in stabilizing the country’s economy
• The intricacies of fuel pricing in Kenya
• The role of Central Banks in the foreign exchange market

Innovation, Technology & Ethics 

•  Whistleblowing against corruption and malpractices: challenges and experiences from accountants
• Overview of the code of ethics for professional accountants
• Use of technology, analytics, and innovation in assurance engagements
• Overview of innovative technologies disrupting the accountancy profession

Spurring personal growth & prosperity

• Growing your wealth and investing wisely in tough economic times
• Navigating the terrains in starting a business: The do’s and don’ts
• Guarding your mental health as a professional

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.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS

Members of ICPAK and other reciprocating professional bodies will earn 20 Structured CPD points upon successfully attending the 41st  Annual Seminar- Edition 1.

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 Annual Seminar presents a perfect opportunity for organizations to showcase their products and services to a target group with high purchasing power, both on personal and corporate levels. With over 2500 participants, you have a perfect opportunity for brand positioning for optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship/partnership opportunities range from cocktail, gala, media sponsorships, exhibitions, golf tournament and advertising. For more information or enquiries please email raphael.nguli@icpak.com

 CONTACT DETAILS

Please feel free to contact any of the following persons for any inquiries and/or confirmations: