In Partnership with
INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
CLOUD ACCOUNTING & EMERGING TRENDS SEMINAR
Theme: “Digital Innovation in Accounting and Finance”
Date: 28th – 29th March 2019
Venue: Intercontinental Hotel – Nairobi
A. AN OVERVIEW
The internet has evolved from a platform that connects millions of computers, into the network of interactive computing platforms now known as ‘the cloud’. It was estimated that 90% of small and medium enterprises will be using cloud accounting software by the end of 2018. On the other hand, accounting has evolved consistently over the past decades, with each new addition and innovation making it even better and challenging while providing satisfaction and convenience to end-users. Recent trends in accounting are expected to make the profession accessible, less expensive and time saving.
Cloud accounting is the latest accounting trend which has emerged into the enterprises in the recent times. It is equal to the self-install accounting software, but in cloud accounting it is hosted on remote servers. Cloud accounting helps to get real-time reporting throughout the enterprise. Small and Medium enterprises have achieved maximum benefit from cloud-based services mainly with their accounting and financial services.
Why Cloud Computing?
Businesses use a variety of softwares for different purposes. An accounting firm with a variety of business clients will need to be vast in the use of these softwares. To some, this pose a significant challenge since the practice needs to manage its own internal IT systems and developments; while at the same time be able to deal with IT for their clients who are likely to operate in an array of IT configurations and systems.
Why Should Accountants Embrace Change?
Just as any other new paradigm, cloud accounting is also facing considerable roadblocks. The lack of knowledge and fear of unknown are probably the most significant obstacles in the adoption of cloud-based applications. ―Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less. These words, that reflect our reality so accurately, belong to Marie Curie, the first woman to win a Nobel Prize and the only person to win twice (in 1903 and 1911) in different domains (physics and chemistry). Regardless of the age we live in or the level of knowledge we reached, this quote could be an incentive factor for any progress.
These considerations are especially applicable for the accounting profession, which is uniquely positioned as a valued adviser for every business. Indeed, accounting professionals have brought forward some risks that could be associated with cloud technology. Security issues, the loss of internet connection and therefore, the interruption of the business activity were cited by skeptical practitioners with regard to cloud accounting. Still, all these potential downsides can be mitigated or even excluded through strict and specific contractual clauses.
Accountants need to be receptive and understand current and upcoming digital technologies, so that they could harness their potential benefits. Neither technology sceptics, nor optimists can predict the future with any degree of certainty. Nevertheless, by staying informed about IT innovations and embracing new technologies as they arise, accountants can help the business grow and maximise the gains promised by the digital era. If we are to experience another progress in accounting, we will have to think outside the box and give technology a chance. A new insight into the future is gradually emerging for the modern accountant – cloud accounting could be the next step in the evolution of the accounting practice. The cloud adoption process is only just beginning. Even if the percent of early adopters is not significant yet, several surveys have revealed that a meaningful fraction of entities are considering this option. In fact, almost every prediction made by market research companies has shown that cloud-based solutions are mentioned as a top trend in the near future.
Learning Objective and outcomes/Thematic Areas
- Cloud Strategies – An Overview
- The Place of Cloud Accounting in Africa
- Cloud Accounting Softwares – case study/demo from SAGE.
- Impact on Professionals – Skills Preparedness (Automation, Data Analytics, Outsourcing)
- Cloud Accounting and SMEs
- Addressing Security Challenges and the Cloud
- ICT Preparedness for Trainee Accountants – The KASNEB Story
This seminar is suitable to CFOs, CIOs, CECs ICT Parastatals, Konza Technopolis, Chief Audit Executives, Scholars in ICT, Academicians, System Auditors, Deans Business Schools, all ICPAK members.
C. CHARGES – (16% VAT INCLUSIVE)
|Category||Early Bird Registration
Booking & Payment on or before 13th March 2019
Booking & Payment or LSO/LPO received by ICPAK after 13th March 2019
|Associate Members /Accountant trainees||Ksh.20,000||Ksh. 25,000|
|Kenyan based Members/ACCA Members and IFAC PAOs||Ksh. 25,000||Ksh. 26,000|
|Non-members & International Delegates||Ksh. 35, 000
D. CPD UNITS
Members of ICPAK and reciprocating professional bodies will be awarded 14 CPD Units upon successfully attending all workshop sessions
E. National Industrial Training Authority (NITA) Reimbursement for Kenyan Delegates
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Kenyan participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyans.
F. PARTNERSHIP OPPORTUNITIES
This seminar presents a good opportunity for organizations to showcase their products and services to a target group with high purchasing powers, both on personal and corporate levels. It presents 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. For more information or enquiries please email Raphael.firstname.lastname@example.org
Further requests can be channeled to us via telephone calls on +254 719 074000/100/129 or via email to email@example.com with a copy to firstname.lastname@example.org
*We encourage members to regularly visit our website www.icpak.com for updates.