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JANUARY-FEBRUARY 2010 CPE ACTIVITIES Tax Quote: The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. (Ronald Reagan, US President 1981-1989)
1. Tax Principles & KRA expectations Workshop: 28th January 2010 Every organization must look for legitimate ways of minimizing their tax burden by understanding the tax concessions they have with the Government and other statutory authorities. Further, the organization needs to understand the relevant tax laws in order to comply and avoid unnecessary penalties and tax overpayments. To address these issues in a practical way, the Institute has organized a one day seminar that delves into various taxation issues including the following areas:
The seminar will be held on Thursday, 28th January 2010 at the Panafric Hotel, Nairobi from 8.30am to 4.30pm. Charges are Kshs. 4,950 and Kshs. 11,400 for members of ICPAK and non-ICPAK members respectively to cover the costs of lunch, morning/afternoon tea with pastries, facilitation and materials. Members in attendance will be awarded 7 CPD Hours.
2. Video Session - “The Secret” – Tap The Power Of Attraction The Secret, which is described as a self-help film, uses a documentary format to present the non-scientific "Law of Attraction." This law is the "secret” that, according to the tagline, "has traveled through centuries to reach you." The film features short dramatized experiences and interviews of a team of "personal transformation specialists", "spiritual messengers", "feng shui masters", and moneymaking "experts". As put forth in the film, the "Law of Attraction" principle posits that people's feelings and thoughts attract real events in the world into their lives; from the workings of the cosmos to interactions among individuals in their physical, emotional, and professional affairs. The film also suggests that there has been a strong tendency by those in positions of power to keep this central principle hidden from the public. This video will be held on Wednesday, 3rd February 2010 at the Professional Centre from 5.00 pm to 7.00 pm. Charges are Kshs. 500 and Kshs. 800 for members and non-members respectively. Members in attendance will earn 3 hrs of CPD
3. The 18th Economic Symposium: 25th & 26th February 2010 For the 18th year, ICPAK is organizing this event to address numerous socio- economic and political issues affecting the East Africa region. This forum brings together Accountants and other professionals who engage in discussions that lead to positions that shape the input we make towards public policy formulation. The actual development and progress realized from such convergence of contributions mirrors the realization of the Institute’s primary goal of serving public interest.
The Economic Symposium will be held on 25th & 26th February 2010 at the Hilton Hotel, Nairobi. Charges are Kshs. 13,200 and Kshs. 22,800 for ICPAK members and non members respectively. 15 CPD Hours will be awarded.
4. Audit Quality Assurance Workshop: 4th & 5th February 2010 Local and global events are shaping and changing the Accountancy profession and subsequently affecting the way Auditors work. The redrafting of Auditing standards, the frequent changes to the reporting standards, the new Accountants Act No. 15 of 2008 are some of the changes witnessed in the recent past. These definitely affect the work of auditors. In an effort to ensure quality of audits produced while responding to both current and expected changes, ICPAK rolled out a monitoring programme in 2004 focusing on the work done by audit professionals. Results from the field pointed to the need for the Institute to develop reference materials to aid small and medium sized audit firms conduct their work effectively. The Institute also started the Audit quality review programme that has seen over 400 audit firms reviewed. Results from these particular findings are breathtaking. These are what any practitioner whether in a small or large audit firm would want to be taken through. The Institute has thus organized this workshop to focus on: Target audience: This workshop is a must attend for Accountants and Auditors in active practice, those wishing to go into practice, authorized practicing accountants(APA’s), those working for firms that have undergone Audit Quality Assurance reviews. The workshop will be held on 4th & 5th February 2010 at the Laico Regency Hotel, Nairobi from 8.30 a.m. to 4.30 p.m. Charges will be Kshs 9,900 to cover the costs of lunch, morning and afternoon refreshments and materials. Members in attendance will be awarded 15 hours of CPD.
5. IFRS for SME’s Workshop: 11th February 2010 Strong demand for a rigorous and common set of accounting standards for smaller and medium-sized entities has been around for a while. The release of a standard for small and medium sized entities by the International Accounting Standards Board (IASB) has brought with it a number of questions which this workshop seeks to address.
The workshop answers questions such as:
This workshop will be held on 11th February 2010 at the Panafric Hotel, Nairobi from 8.30 a.m. to 4.30p.m. Charges are Kshs. 4,950 and Kshs. 11,400 for ICPAK members and non members’ respectively.7 CPD Hours will be awarded.
6. Financial Reporting for NGO’s: 18th February 2010 Existing legal framework is not focused on the issue of governance and financial reporting of NGOs. These has been broadly defined and loosely implemented. Furthermore, the accounting and disclosure requirements are relaxed and provide scope for managerial discretion in reporting. This one-day workshop will cover:
This workshop will be held on 18th February 2010 at the Panafric Hotel, Nairobi from 8.30 a.m. to 4.30p.m. Charges are Kshs. 4,950 and Kshs. 11,400 for ICPAK members and non members’ respectively.7 CPD Hours will be awarded. 7. Branches: Financial Reporting Workshop With the arrival of IFRSs, the global business community now faces a challenging time to ensure it is adequately prepared for the requirements of the standards. The introduction of international standards means that most organizations will need to change their financial policies, processes and systems. The transition to IFRS is more than just a financial reporting exercise. The impact of these fundamental changes and the increased comparability that will result, if not appropriately managed, could directly affect your organization’s reputation within the marketplace and ultimately its market value. With these consequences in mind, can your organization afford not to prioritize IFRSs? While many countries and regions throughout the world have already adopted the IFRSs, others are still in the process of moving towards adoption, and the US FASB and the IASB are committed to converging their respective pronouncements into a common set of global accounting standards, a process that is welcomed by security market regulators. Why? To provide transparency, consistency, and comparability in financial reporting. It is with this in mind that the Institute has organized for a two day workshop to take members through various IASs & IFRSs. The workshop will provide an in-depth discussion of some key standards that are directly related to financial reporting under IFRSs with emphasis being placed on disclosure requirements. The workshop is ideal for individuals at all levels within an organization who have a need to know IFRSs. The standards to be covered are:
The workshops will be held as follows:
All sessions will runfrom 8.30 a.m. to 4.30 p.m. Charges are Kshs 6,000 and Kshs. 8,000 for ICPAK members and non members respectively to cover the costs of seminar materials, tea, facilitation and lunch. 15 CPD Hours will be awarded.
DIT Reimbursement The Institute is registered as a trainer with the Department of Industrial Training (DIT). The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to DIT for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to DIT regulations. Remember that to qualify you should apply to DIT for approval prior to the date of the Seminar.
Bookings For bookings on ICPAK Seminars and CPE in general, please contact Fridah Keitany on Need more information? N/B: You can also get more information by visiting Events on our site, www.icpak.com
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