INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established Under Accountants Act, Laws of Kenya)
THE 6TH BOARD AUDIT COMMITTEE MASTER CLASS
Theme: Enhancing the role of the Board Audit Committee towards business sustainability
DATE: 19th to 23rd February 2024
VENUE: Sarova Whitesands Beach Resort & Spa, Mombasa
Time: 09.00am-03.30pm
Overview
The Board Audit Committee plays a acritical role in the oversight of an organization and organizations rely on the judgment of audit committee members to appropriately oversee areas such as risk, compliance, financial reporting and corporate resources. The expectations and obligations on audit committees continue to evolve in response to governance developments and the need for Boards and governing bodies to demonstrate that they are adhering to relevant audit, assurance, and risk management requirements. Consequently, audit committee members need to remain up to date and aware of changes to their responsibilities.
Audit committee members have a critical role in overseeing many aspects of a company’s activities and performance. The audit committee has responsibility for overseeing financial reporting and related internal controls, risk, independent and internal auditors, and ethics and compliance.
Governance can incorporate many different practices. Specifically, some of the primary best practices include building a competent board, aligning strategies with goals, being accountable, having a high level of ethics and integrity, defining roles and responsibilities, and managing risk effectively.
This Board Audit Committee training will provide an avenue for directors to share knowledge and key lessons on critical governance aspects regarding the strengthening of controls within their organizations.
It is against this background that the Institute has organized its Board Audit Committee Training to discuss these critical developments which affect governance and controls, and which have resulted into new risks for organizations. To guide the discussion during the Conference, the following shall be the main topics of discussion, and the learning objectives:
LEARNING OBJECTIVES:
This program is divided into the following five modules covering the various aspects of Board Audit Committee Competence:
| DAY | MODULE | TOPICS | KEY AREAS TO BE COVERED |
| DAY 1 | A. Board Audit Committee Effectiveness | The Roles and responsibilities of the Board Audit Committee
1. Roles and responsibilities of the BAC 2. Audit Committee charters 3. The relationship with senior management, internal audit and the Board 4. Enhancing the effectiveness of the Internal Audit function |
1. Board Audit Committee roles and responsibilities
2. BAC Charters 3. Relationship with senior management 4. Relationship with internal audit and the Board 5. Assurance assignments and effective delivery of the engagements 6. Enhancing corporate accountability through the Audit Committee
|
| DAY 2 | B. Financial Stewardship & Oversight | 1. The Role of the Board Audit Committee in Financial Oversight
2. Interpretation of the financial statements 3. Assessing the financial performance |
1. Key highlights in the financial oversight role
2. Techniques used in the analysis of financial statements 3. Supporting the external audit process 4. Financial competence requirements for the BAC members 5. Financial reporting oversight practices |
| DAY 3 | C. Risk Management | 1.The Board Audit Committee’s Responsibility in Risk Management
2.Risk mitigation strategies by the Board Audit Committee
|
1.The ERM Framework
2. Setting the Risk Appetite 3. Risks facing the Board 4. Creating the Risk intelligent organization 5. Succession planning for the BAC and the Board as a whole |
| DAY 4 | D. The Legal and Regulatory Framework | 1.The legal and regulatory environment of audit committees
2.Dealing with the emerging regulatory demands for ESG compliance |
1.The legal and regulatory environment of the BAC
2. Emerging legal consideration for the BAC 3.ESG related considerations and risks for the BAC 4.Emerging regulatory demands for the BAC 5.The role of BAC in governance risk and compliance
|
| DAY 5 | E. Moving Forward & Lessons for Boards | 1.Case Study of Successful Board Audit Committees
2.The Future of Board Audit Committees 3.Technology and the digital Board Audit Committee
|
1. Challenges faced by Board Audit Committees
2. Skills for the progressive Board Audit Committee members 3.Technology and the emerging digital risks for businesses 4. The Future Ready Board Audit Committee 5. Digitalisation of the Board Audit Committee papers |
Target Audience:
Members of Corporate Boards, Board Secretaries, CEOs, Private and Public Audit Practitioners, Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, Governance advisors, Internal Auditors, Professionals working in County Governments, Academia, and other interested stakeholders.
Your investment:
This Master Class shall be provided at a cost of Sh.90,000.
Continuous Professional Development Units:
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending the Master Class.
Online Booking:
We call on all 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)
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.
Further requests can be channeled to us via telephone calls on, +254 719 074 100, or via email to Fredrick Otwori at fredrick.otwori@icpak.comwith a copy to marketing@icpak.com
We encourage members to regularly visit our website https://www.icpak.com for updates.
