THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
IFRS For NPOs Workshop
Theme: Accountability and confidence in the execution and reporting of the budget plan for NPOs’
Date: 15th February 2019
Venue: Hilton Hotel, Nairobi
Time: 9.00am to 5.00pm
Nonprofit organizations exist mainly to provide help or resources to a target audience with a specific need. They usually serve a public purpose such as enriching the lives of people in the community, and enjoy special considerations in terms of tax, legal status and accountability. A nonprofit organization is mission-driven, which requires the management and board to set objectives aimed at achieving the organization’s mission statement. A nonprofit organization’s strategic objectives focus on the services provided to its target market.
Nonprofit organizations are subject to stringent governance requirements, mainly because they usually use donor or grant funding to do their work. This makes them accountable to their donors and the grant programs, as well as to the public whose taxes go towards grant funding. Governance objectives include the establishment of sound policies for issues such as compensation, purchasing and procurement, human resource and volunteer management, and asset and risk management
Financial reporting for NPOs is not guided by a stand-alone standard, rather, multiple standards are to be adopted for different disclosures and activities, all directed towards providing a sound financial reporting framework to satisfy the reporting needs of the various stakeholders. Some NPOs are finding it more suitable using the International Public-Sector Accounting Standards (IPSAS) while a good number are inclined towards International Financial Reporting Standards (IFRS) for SMEs among other standards. Further, increased scrutiny from the government and other regulatory agencies, coupled with reduced donor funding have contributed to an environment where NPOs are required to be more accountable and disclose information that meets the expectations of the different bodies that the NPOs report to.
ICPAK has organized a one-day workshop themed ‘Accountability and confidence in the execution and reporting of the budget plan for NPOs’ to bring together personnel involved in the reporting and management of NPO activities, to dialogue on the above issues.
Objectives of the Training
The specific training objectives will be as follows;
- Participants should be able to develop and / or use effective accounting policies
- Participants should be in a position to interpret financial information for decision making
- To improve the quality of financial information disclosed by NPOs
- Improve the budgeting process and reports generated from execution of budgets
- Improve understanding of the relevant standards applied in accounting for NPOs.
- Overview of the tax planning and compliance measures for NPOs
2.0 Target Audience
Accountants, consultants, monitors, compliance officers, finance and non-finance managers and chief administrators working or intending to work with NGOs, Personnel of Charities, Aid Organizations, trusts, Personnel of foundations, religious organizations, Staff of faith-based organizations (churches, mosques,)
3.0 Online Booking
Kindly note that booking for the IFRS for NPOs Workshop 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 14th February 2019 at 1700 hrs
4.0 IFRS for NPOs Workshop Charges:
The Charges for IFRS for NPOs Workshop which cover workshop materials, meals, and e-certificates of attendance is as provided under;
|Category||Early Bird RegistrationBooked & Paid for before 1st February 2019||Normal RegistrationBooking & Payments or LPOs / LSOs received after 1st February 2019|
|International Delegates||USDs 250||USDs 300|
5.0 Continuous Professional Development Units – 7
Members of ICPAK and other reciprocating professional bodies will earn 7 CPD points upon successfully attending IFRS for NPOs workshop
6.0 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).
7.0 Sponsorship Opportunities & additional information
IFRS for NPOs Workshop attracts over 100 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring the event can reach us through Raphael Nguli on email: firstname.lastname@example.org
Further enquiries for the IFRS for NPOs Workshop please call Tel: +254 (0) 20 2304226, 2304227 Mobile: +254 (0) 727 531006 / 733856262 / 0721 469796/ 721469169, email to email@example.com / firstname.lastname@example.org . We encourage you to regularly visit our website www.icpak.com for more updates.