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December 7, 2020 @ 8:00 am - December 11, 2020 @ 4:00 pm

| Ksh 55000

(established under the Accountant Act, Laws of Kenya)


Theme: Strengthening the Control Functions in Pursuit of Organizational Growth and Sustainability

Date: Monday 7th to Friday 11th December 2020

Venue: Sarova Whitesands Beach Resort & Spa Mombasa


Control functions play a key role in ensuring that the three lines of defence model is optimised as well as providing the required oversight in an organisation. Typically, control functions in an organization are charged with the role of checking transactions and processes for any errors and material misstatements to propose for the necessary corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner.The typical control functions as per the three lines of defense model include the Risk Management Function, Internal Audit, Investigative Audits and External Audit. According to modern concepts, control is a foreseeing action; earlier concepts of control were only used when errors were detected. Control in management includes setting standards, measuring actual performance, and taking corrective action in decision making.

Being the main advisors to the business, control function executives and staff are thus required to be frequently updated on all faucets of the busines and well as the overall economy and foregoing new regulations  and guidance issued from time to time by various entities. In recent times, the issuance of additional compliance requirements has rendered the control function executives more alert to any potential noncompliance areas by implementing additional internal controls to mitigate against any fraud or outright noncompliance. The emergence of global AML sanctions as well as strict requirements on AML, FATCA & GDPR reporting require that the control functions heads and staff familiarize with the pertinent skills necessary to undertake their oversight and reporting roles in pursuit of compliance. The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on with holdable payments.

Other requirements on the need for strengthened controls around BCP/ DRP, cyber security and GRC Reporting are also critical for audit and risk professionals. The pertinent skills required by these professionals in tackling the day to day findings as well as proposal of streamlined controls for implementation require upskilling from time to time. The International Professional Practices Framework (IPPF) is the conceptual framework that organizes authoritative guidance promulgated by the IIA. The IIA provides internal audit professionals worldwide with authoritative guidance organized in the IPPF as a mandatory guidance and recommended guidance. The updated Framework was introduced in July 2015.

The COSO ERM framework being one of two widely accepted risk management standards is what organizations use to help manage risks in an increasingly turbulent, unpredictable business landscape.ISO 31000 on the other hand is a family of standards relating to risk management codified by the International Organization for Standardization. ISO 31000:2018 provides principles and generic guidelines on managing risks faced by organizations. ISO 31000 seeks to provide a universally recognized paradigm for practitioners and companies employing risk management processes to replace the myriad of existing standards, methodologies and paradigms that differed between industries, subject matters, and regions. For this purpose, the recommendations provided in ISO 31000 can be customized to any organization and its context

In modern day audits, it is also paramount that the control function staff employ some leadership and soft skills in managing the different stakeholders that they engage with from time to time as part of their work. Analytical skills are also critical over and above the soft skills, which when put together empower the control function staff and leaders to fulfill their oversight role more effectively. The dynamics of ARC Committee reporting, performance appraisal grey areas as well as the typical meeting agendas and reports are some of the fundamentals that executives in audit and risk ought to discuss about and share experiences from time to time.

This seminar will provide an opportunity for professionals in the control functions to share experiences and ideas on the various dilemmas and opportunities as presented above.

The conference has been designed to focus on the following key topics:

  1. Overview of the International Professional Practices Framework (IPPF)
  2. Deep dive into the main phases of an audit process: Planning, field work, reporting, monitoring
  3. Essentials of Audit Committee Reporting: Overview of typical agendas and reports to be presented
  4. Discussion of the relevant audit governance documents: Audit Charters, ToRs, Workplans etc.
  5. Key steps to be undertaken in Implementing Risk Based Audit Planning
  6. Deep dive into typical substantive audit procedures for key processes in the public and private sector audits
  7. Audit automation: Harnessing the Power of technology in Everyday Audit & Compliance Projects
  8. Leveraging on technology to conduct audit analytics in support of objective and factual audit findings
  9. Overview of an effective Internal Controls Framework (ICF)
  10. Key foundations of an effective ERM Framework and critical milestones in the ERM Implementation Process
  11. Risk modelling and analytics to support decision making for critical risks: a paradigm shift from qualitative to quantitative risk management
  12. The essentials of developing and approval of the Risk Appetite Framework and the link to strategy
  13. Key considerations of an effective Cyber Security Framework and steps towards implementation
  14. Business Continuity and Disaster Recovery Planning- Key considerations for organisations
  • Overview of effective BCP/DRP plans
  • Link between Risk Management and BCP
  • Critical recovery steps for organizations post the pandemic
  1. Insights on the AML, FATCA & GDPR Policy requirements & compliance obligations to be fulfilled by executives in the control functions:
  • AML Reporting officer appointment and roles
  • Frequency of suspicious transactions reporting
  • AML policy and AML Audits
  • FATCA & GDPR Reporting roles
  1. Governance, Risk and Compliance (GRC) and the Risk Automation Agenda
  • Benefits of Risk Management Automation
  • Key Milestones in the Risk Automation Journey
  1. Overview of the ISO 31000 and COSO ERM Frameworks
  2. Making risk management work:
  • Risk governance
  • Risk culture
  • The process of embedding Risk Monitoring to the core business: success stories
  1. Forward looking forensic audit techniques
  2. Essentials of forensic audit reporting
  3. Fundamentals of Forensic Audit and Fraud Risk Assessment in the virtual working arrangements
  4. Critical Data Analytic Skills to enhance the forensic audit process
  5. Leveraging on Technology to Combat Fraud
  • Emerging tools and technology for fraud detection
  • Cyber-Threat Intelligence
  1. Data privacy
  • What do data privacy laws require?
  • How to secure organizational data from fraudsters
  1. Instilling the right value system in support of integrity and morality for executives in the control functions
  2. Developing resilience, self-motivation, and renewal tips for control function executives
  3. ARC Committee Reporting: Tips and skills for successful achievement of objectives and harmonious working relationships
  4. The audit performance appraisal agenda: Navigating the grey areas
  5. Instilling the right leadership skills to aid in navigating difficult conversations and managing difficult stakeholders


The seminar is ideal for mid-level and high-level executives including Managing Directors, CEOs, Board Members, Audit Committee Members, Chief Audit Executives (CAEs), Chief Risk Officers (CROs), Heads of Audit, Heads of Risk, Forensic Audit Officers, Heads of Forensic Audit Units, Investigation Officers, Internal Audit Staff, Risk Management Staff,  Heads of Departments, Senior Managers, Chief Finance Officers, Chief Operations Officers, Chief Information Officers, Chief Compliance Officer,. This seminar is not limited to the accountancy profession only, staff from other units are highly encouraged to attend.

Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.

Financial Investment:

Category Charges per Delegate
Associate Members Ksh. 45,000
Members/ACCA Members Ksh.55,000
Non-Members Ksh. 60,000

 **the cost caters for training fee| training materials, certificate and meals during the conference

Note: Delegates are required to make their own travel and accommodation arrangements.

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 (

The conference presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from cocktail, gala, media sponsorships, exhibitions and advertising. For more information or inquiries please email

Further requests can be channeled to us via telephone calls on +254 719 074000 or via email to with a copy to:

We encourage members to regularly visit our website for updates.



December 7, 2020 @ 8:00 am
December 11, 2020 @ 4:00 pm
Ksh 55000
Event Categories:




Public and Private Sector
CPD Hours
Associates Member Cost
Ksh 45,000
Full Member Cost
Ksh 55,000
Non Member Cost
Ksh 60,000
Event Type


Sarova Whitesands Beach Resort & Spa Mombasa
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ICPAK is an Institution
mandated to protect and uphold public interest
as well as develop and regulate the accountancy profession in Kenya.

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P.O BOX 59963-00200,
CPA Center, Ruaraka, Thika road.
Nairobi, Kenya.
Telephone Line (Main) : +254 719 074 000
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