ACCOUNTANCY PROFESSIONAL PRACTICE FORUM (Mandatory Training)

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)

ACCOUNTANCY PROFESSIONAL PRACTICE FORUM
Theme: Embracing accountancy standards and quality requirements for excellence
Date: 20th -22nd August 2025
Venue: Villa Rosa Kempinski Hotel, Nairobi
This is one of the mandatory training courses for practicing certificate consideration for Category C License

Overview

The accountancy profession continues to evolve as it responds to the changing business dynamics and other external developments like regulatory demands and the ever-changing technological and digital space.  There have also been developments in the standards setting environment which aim to strengthen the quality of practitioners’ engagements.

The quality standards- ISQM 1& 2 strengthen and modernize how a firm of any size or level of complexity approaches quality management. They address the evolving and increasingly complex audit ecosystem, including growing stakeholder expectations and a need for quality management systems that are proactive and adaptable. From an audit and assurance perspective, it is important to note that concerns on audit quality continue 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, there needs to be an element of efficiency and cost optimization in the delivery of all audit and advisory engagements.  This is a critical consideration which the practitioners must give to their work as they endeavor to deliver the best service to their clients.

It is against this background that the Institute has organized a three-day seminar to discuss these critical developments which affect the practitioners in the different categories of practice, and the accountancy profession at large and seeks to address the rising concerns of work quality while ensuring that efficiency in undertaking engagements is maintained.  To guide the discussion during this seminar, the following topics of discussion will form the focus of this event.

Topics

1. Implementation of ISA for LCEs Globally; Challenges & opportunities
2. Overview of the second and third edition of IFRS for SMEs
3. Implementation of firm and engagement level quality considerations – an in-depth assessment of the ISQM 1 and 2 requirements: Sharing of experiences on Firm risk assessment and Monitoring & remediation
4. Engagement partner and engagement team’s responsibilities for quality management for an audit of financial statements as per ISA 220
5. Code of Ethics for Professional Accountants- A focus on recent amendments by IESBA
6. Mandatory Rotation of Audit Firms
7. Overview of the taxation landscape and changing laws and the implications to audit firms partners
8. Overview of the developments within the standard setting environment- New standards- IFRS 18, 19, ISSA 5000
9. IFRS S1 &S2: General Requirements for Disclosure of Sustainability-related Financial Information and Climate-related Disclosures
10. Advancing Public Sector Sustainability Reporting: Sustainability reporting for the public sector and overview of IPSASB’s Exposure Draft 83 on Reporting Sustainability Program Information for the public sector
11. IPSAS 33 – First-time Adoption of Accrual Basis IPSASs: Key requirements for Kenya’s Public Sector transition to the Accrual Basis of Accounting
12. Key findings from the ICPAK Audit Quality Reviews – Major concerns and practical responses to the issues.
13. Technological advancements and leveraging the digital space to enhance delivery of the required efficiencies and quality in audit engagements.
14. Stress management and effective work life balance for accounting professionals
15. Integrity and ethical considerations for audit, assurance and advisory practitioners

Continuous Professional Development Units (CPD Units):

Members of ICPAK and reciprocating professional bodies will be awarded 20 CPD Units upon successfully attending each of the seminar sessions.

Target Audience:

Audit Firm Partners and Staff, CEO, CFOs, Heads of Finance & Accounting Units, Heads of Audit, Chief Risk Officers, Board Members, Accountants employed  in all ranks and sectors and other interested participants

Cost:

Charges for the training will be Ksh 40,000/= which will cover workshop fees, materials, and 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)