THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
3rd Professional Forum
Theme: Internal Controls in Business – The Role of Accounting and Finance Professionals
Date: 3rd April, 2019
Time: 5:30 pm – 7:30 pm
Venue: Coast Branch Office, 2nd Floor Jubilee Insurance Building, Rm 16B
Brief
Internal controls refer to the procedures and policies put in place by an organization to ensure reliability and integrity of financial information, compliance to rules, safeguarding assets and improvement of operational efficiency. The management is responsible for setting up a system for internal controls and communicating it to the relevant stakeholders then monitoring compliance. A proper framework for controls is required and should include both detective and preventive measures.
Finance and accounting professions play a critical role in instituting and implementing internal controls for an organization. Some of the vital duties attributed to the profession include separation of powers, controlling access to the accounting systems, providing standardized documentation for financial records, physical audit of assets and carrying out periodic reconciliations of accounts.
Despite the efforts put in strengthening internal controls and the guidelines set out by various regulators and institutions in Kenya, there have been numerous cases of corporate failures in performance due to fraud and lack of elaborate internal controls as well as compliance with internal and external regulations within the various institutions in different industries. Kakucha (2009) evaluated the level of effectiveness of internal controls in businesses operating in Kenya and established that there are deficiencies in the systems of internal controls, with the degree of deficiencies varying from one enterprise to another.
This forum seeks to educate and equip delegates to execute their roles in securing internal controls through:
- Review of internal control frameworks
- Assessment of control risks
- Approaches to testing existing controls
- Manual versus electronic controls
Target Audience
Young professionals, Practicing Members, Accountants in Academia and those serving public interest entities
Event Booking
Kindly note that booking 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 advised to book early for planning purposes.
Charges
Charges for this forum are as provided below:
| Category | Charges (Ksh) |
| Associate Members | 1,500 |
| Members | 2,000 |
| Non Members | 2,500 |
Continuous Professional Development (CPD) Units
Members of ICPAK will earn 3 CPD points upon successful attendance.
Enquiries may be directed to us via joy.wanyonyi@icpak.com with a copy to memberservices@icpak.com.
