THE FINANCIAL REPORTING (IFRS) WEEK (Mandatory Training)

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

THE ANNUAL FINANCIAL REPORTING WEEK
(This is one of the mandatory trainings for practicing certificate consideration)
Theme: Emerging considerations in financial reporting during uncertain times
Date: 8-10th September 2021
Venue: Hilton Hotel, Nairobi

OVERVIEW

The need for high-quality and reliable financial reports for all sectors of the economy cannot be over-emphasized even during this time of the COVID-19 pandemic. ICPAK aims to improve the quality of general-purpose financial reporting by entities to ensure that there is better informed assessment of resource allocation and utilization decisions, thereby enhancing accuracy, transparency, and accountability.

The training has been carefully tailored to meet the financial reporting requirements in view of the recent and current developments under the COVID-19 pandemic environment, and the emerging developments in reporting under the various financial reporting frameworks and guidelines for the different economic sectors.
This highly interactive financial reporting seminar will give the participants an opportunity to learn some of the latest developments in financial reporting and get details on the new reporting standards under the different financial reporting frameworks that are relevant to their sectors.

Additionally, the course will explore the impact of COVID-19 on financial reporting and treatment of various accounting and financial transactions because of the pandemic. This will be in addition to exploring the enhanced disclosure requirements for better relevance and suitability of the financial statements to the readers of the reports and other stakeholders.

Active participation by all participants through a combination of different approaches will be included during the seminar. This will entail direct instruction, analysis and evaluation of practical case studies, examples, and exercises to illustrate practical application of the standards, as well as current and future developments affecting the standards.

The sessions will also capture the following topical areas and developments which affect the preparers and users of the financial statements:

i. IFRS overview and Background
-Overview of IFRS Principles and Concepts
-The latest on world adoption of IFRS – an update from IASB / IFRS Foundation
-First time adoption of IFRS
IAS 1 – Presentation of Financial Statements
IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors

ii. Technical Standards
IAS 12 – Income Taxes
IAS 19 – Employee Benefits
iii. Financial Instruments
IFRS 9 – Financial Instruments
IFRS 7 – Disclosures
IAS 32 – Presentation
iv. Group Reporting
-Accounting for Investments in Associates
-Business combinations and accounting for entities in group investments and joint arrangements
IFRS 3 – Business Combinations
IFRS 10 – Consolidated Financial Statements
IFRS 11 – Joint arrangements
v. New Standards and Practical Implications
IFRS 15 – Revenue from Contracts with Customers
IFRS 16 – Leases
IFRS 17 – Insurance Contracts
vi. Future developments and regulatory implications on financial reporting
-Future development in standards setting and financial reporting
-IFRS for Small and Medium-sized Enterprises (SMEs)
-Technological impact on financial reporting
vii. Implementation of IFRS in Kenya – FiRe Award 2020 Updates and Way Forward

Target Audience:

All finance and accounting professionals, Private and Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, IFRS Experts, Pension Scheme Administrators, Fund Managers, Engagement Partners and Key Audit staff, SMEs sector accountants, Auditors, Practitioners, Heads of Internal Audit, Professionals working in County Governments and private sectors, Academia, Financial Reporting Consultants

Charges:

The cost caters for training fee, training materials, certificate and meals during the conference. Please note that delegates are required to make their own travel and accommodation arrangements.

Continuous Professional Development Units (CPDs).

Members of ICPAK and those from other reciprocating professional bodies will earn 20 Structured CPD units upon successfully attending all learning sessions.

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 Brenda Imali at brenda.imali@icpak.com; molly.mwangi@icpak.com; eric.otieno@icpak.com each us on call: +254 719 074000/129

We encourage you to regularly visit our website www.icpak.com for updates.