THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
The 3rd External Audit Practitioners Seminar
Theme: Towards the improvement in adoption of standards and professionalism in the External Audit Practice
This is one of the Mandatory Trainings for practicing certificate consideration.
Date: 16th – 17th December 2021
Venue: Online
(This is one of the mandatory trainings for practicing license consideration)
OVERVIEW
The audit practice has experienced tremendous developments arising from the effect of the COVID-19 pandemic. During this period of the pandemic, audits should continue to comply with the required standards, which may necessitate different and enhanced considerations by auditors in the current circumstances. Auditors may need to consider developing alternative procedures to gather sufficient appropriate audit evidence to support their audit opinion, or to modify the audit opinion.
It is important to note that concerns on audit quality continues to be a key issue that is still drawing critical attention from the public and other stakeholders who rely on audited financial statements to make key business decisions and judgements.
While it is crucial to address these quality considerations, the COVID-19 pandemic continues to advance new complexities which have impacted the profession in a profound way. The audit approach requires far reaching realignments from the way in which the audit procedures are undertaken to the presentation and signing off the audit report.
The impact of these new developments span across the private and public audit landscapes and the complexities arising from the global developments around the profession call for concerted efforts aimed at not only maintaining the quality of the audits undertaken, but equally reassure the public that the audited financial statements can be relied upon. This trust aspect must be maintained at all costs if the audit practice must continue gaining the expected confidence and trust of the public.
It is against this background that the Institute has organized another two-day virtual forum to discuss these critical developments which affect the Audit Practice and Accountancy Profession and seek to address the arising concerns of audit quality during the COVID-19 pandemic. To guide the discussion during the Seminar, the following topics of discussion will form the focus of this very important virtual event.
i. Auditing during COVID-19: Reflections of a Supreme Audit Institution on auditing in a Pandemic environment
ii. a) Recent developments in the Audit Practice; Case studies and lessons to be learned
b) Recent developments and commentary from Representatives of Regulated Services – Financial Services Sector
iii. Audit approach and evaluation of COVID-19 and other uncertainties; A focus on key affected IFRSs and ISAs.
iv. The new auditor report signing and other regulatory requirements impacting the profession.
v. Independence and Governance issues – A critical focus on practitioners and possible way-out regarding Going Concern considerations.
vi. Key findings of the Audit Quality Reviews – Major concerns and practical responses to the issues.
vii. Leveraging technology to deliver required efficiencies and quality in audit assignments.
viii. Auditing and assurance on accounting estimates during the pandemic
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending each of the Conference sessions.
Target Audience:
Private and Public Audit Practitioners, Public Sector Accountants, Chief Finance Officers, Finance Directors and Managers, Tax Experts, Transaction Advisors, Engagement Partners and Key Audit staff, Banking, Extractive and SMEs sector accountants, Internal Auditors, Tax Practitioners, Professionals working in County Governments and private sectors, Academia, employees of the NPO Sector.
Cost:
Charges for the training will be Kes10,000/= which will cover workshop fees, materials, and e-certificates of attendance.
Online Booking:
We call on Conference participants to note that booking 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. 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)