To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
PUBLIC SECTOR CFOs FORUM
Theme: Navigating the complexities of transitioning to IPSAS Accrual
Date: 20th June 2025
Time: 07:00am – 11.30am
Venue: Sarova Panafric Hotel, Nairobi
OVERVIEW
Over the past two decades, a growing number of governments have begun moving away from pure cash accounting toward accrual accounting. While accrual accounting has been the norm among private corporations for over a century, the vast majority of governments prepared their budgets and accounts on a cash basis up until the end of the last century.
The recent spread of accrual accounting to the public sector can be attributed to a number of related factors, including: (i) a growing recognition of the limits of pure cash accounting (ii) the development of accrual based international standards for government fiscal and financial reporting including Government Finance Statistics Manual (GFSM) and International Public Sector Accounting Standards (IPSAS); (iii) the professionalization of the government accounting cadre and resulting introduction of private sector techniques into the public sector; and (iv) the advent of computerized financial management information systems (FMISs) which greatly reduce the transaction costs of collecting and consolidating accrual-based information.
Implementation of accrual accounting in the public sector is a significant priority across many jurisdictions. Accrual accounting promotes more transparency, improves accountability and provides better information for decision-making purposes. According to the International Public Sector Financial Accountability Index, in 2020 only 30% of governments in the 165 jurisdictions included in the Index reported on an accruals basis, but this is projected to increase to 50% by 2025 and 73% by 2030.
On 7th March 2024 the Cabinet approved the transition from cash basis of accounting to accrual basis of accounting with effect from 1st July 2024. The transition is to be undertaken over a three-year period. This therefore means that the entity’s financial statements for the year ending 30th June 2025 shall be prepared on IPSAS accrual basis of accounting and reporting.
This breakfast forum aims to give the Heads of Finance and Chief Finance Officers for the Public Sector the necessary insights and tools to transition to the new form of accounting.
Topics to be covered will include:
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 5 CPD Units upon successfully attending and participating in the forum
Target Audience:
Chief Finance Officers, Finance Directors, Finance Managers, Heads of Financial Reporting and Other interested attendees
Cost:
Charges for the forum will be Kes7,000/= which will cover fees, and an e-certificate of attendance.
Online Booking:
We call on forum 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)
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
