FINANCIAL REPORTING WEEK (2 DAY OPTION)

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA

(established under the Accountant Act, Laws of Kenya)

FINANCIAL REPORTING WEEK

(2 DAY OPTION)

DATE: 10th to 11th September 2018

VENUE: Hilton Hotel, Nairobi

TIME: 9am to 4pm

Theme: “Reliance on enhanced financial reporting for economic growth and development”

The reporting environment has undergone tremendous changes in the recent past. The dynamic financial reporting framework has seen new developments in IFRS and IPSASs as well as other pronouncements from the international standard setting bodies.

Among these new changes include the IFRS 9 which became effective from the 1^st January 2018 with significant impact on the financial services sector both locally and globally. The standard is also applicable to other corporate entities outside the financial services sector.

Other developments have been in the public sector with new standards being introduced. These include IPSAS 33-40 that have been added in the already existing ones.

As the Kenyan Government gets ready to shift from cash basis accounting to the accrual-based framework, it will be important for the accountants to be aware of this new development in the reporting environment for an efficient transition to be achieved.

The institute supports this noble initiative and this year’s seminar will take into account all these developments so as to equip the participants effectively for the changing reporting environment.

Objectives

• To equip the participants with the required knowledge of IFRS, IPSAS and Integrated Reporting
• Introduce the participants to the new concepts and principles in both the IFRS and IPSAS
• Update the participants on the new developments affecting the standard setting environment

Topics

IFRS 9 Overview

1. Principal Changes from IAS 39
2. Classification Financial instruments
3. Measurement Financial Instruments
4. Recognition of financial instruments
5. Impairment of Financial Assets
6. Impact and implementing of IFRS 9

IFRS 7/IPSAS 21- financial instruments disclosures

Current developments on IASB IPSAS Board Conceptual Frame

A look at IFRS conceptual framework and background to standardization-IAS/IFRS, IFRS for SMEs, IPSAS and IESs

IAS & IPSAS 3

1. Accounting Policies, Changes in Accounting Estimates and Errors
2. Disclosure requirements
3. ICPAK view and updates
4. Status updates
5. Reporting adoption in Kenya
6. FiRe Award 2018 insight

Statement of Cash flows IAS 7 & IPSAS 33

• Focus on direct Method
• Importance of cashflows alongside profits as a measure of business performance and sustainability

IFRS 16-Leases

Changes from IAS 17- A reporting perspective

IFRS for SMES

An Overview of IFRS for SMEs

Differences between IFRS for SMEs and Full IFRS

IFRS 17 – Insurance contracts

-Transition from IFRS 4 to IFRS 17

Integrated reporting updates

Sustainability reporting impact on business environment

IAS 38 & IPSAS 31-Intangible Assets, Recognition and measurement, Disclosure requirements

IAS 12-Income Taxes

Recognition of current tax liabilities and current tax assets

Recognition of deferred tax liabilities and deferred tax assets

Measurement

Recognition of current and deferred tax

Presentation and Disclosure

1.0 Target Audience:

Financial Accountants, Finance Directors and Mangers, IFRS Experts, Transaction Advisors, Pension Scheme Administrators, Fund Managers, Engagement Partners and Key Audit staff, Banking, Extractive and SMEs sector accountants.

2.0 Online Booking

Kindly note that booking for The Annual International  Financial Reporting Standards (IFRS) Week 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. Delegates are urged to note that the bookings close on 9^th Sep 2018 at 1700 hrs

Online Booking

Book 2 Days Option

Book 3 Days Option

Book 5 Days Option

 3.0 Your Investment:

The Charges for The Annual Financial Reporting Week which cover workshop materials, meals, and e-certificates of attendance is as provided under; The charges for the seminar are as follows;

Kindly note that the early bird rate applies to delegates who book and pay before 24^th August 2018.

4.0 Continuous Professional Development Units –

Members of ICPAK and other reciprocating professional bodies will earn the following CPDs upon successfully attending The Annual Financial Reporting Week

5.0 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).

6.0 Sponsorship Opportunities & additional information

The Annual Financial Reporting Week attracts over 500 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through raphael.nguli@icpak.com

Further requests for The Annual Financial Reporting Week can be channeled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to emma.opiyo@icpak.com. We encourage you to regularly visit our website www.icpak.com  for more updates.