THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
DATE: 7TH JUNE 2017
TIME: 5.30am to 7.30pm
VENUE: Green Hills Hotel – Nyeri
BRANCH: MT. KENYA
Theme: Unclaimed Financial Assets Act; The Role of The Accountant.
Kenya became the most recent country to enact unclaimed property laws, as the Unclaimed Financial Assets Act “UFAA” was passed into law on December 16, 2011. Modelled after unclaimed property regulations in the United States, the UFAA establishes policies and procedures for the management of unclaimed property.
Under the UFAA, property types eligible to be reported include savings and deposit accounts, safe deposit box contents, unclaimed shares of stock, uncashed dividend checks, insurance and retirement benefits, stocks and bond proceeds, among others.
The prerequisite for the enactment of the Act was as result of huge sums of money, signified as unclaimed assets, held by banks and other financial institutions in the country. The Act seeks to provide a framework for reporting, dealing with such assets and penalties convoyed by failure to report unclaimed property to the Authority.
It is in this regard that the Institute of Certified Public Accountants of Kenya (ICPAK) has organized the forum which will centre on:
- The Act
- Role of The Accountant
- Call to Action
The session will be beneficial to members and non-members in the private and public sector, especially Associate members, Young professionals, Academia, Financial Reporting Consultants, Accountants in the public sector, Audit practitioners involved in the public and private sector, Scholars, Professionals from Financial services Sector (Banks, Insurance Companies and Investment companies etc.) and Representatives from regulatory bodies (SASRA, CBK, IRA etc.).
Kindly note that booking for the Evening Talk 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.
The charges for this event are as below:
Associate Members 2,000
Continuous Professional Development Units
Members of ICPAK and other reciprocating professional bodies will earn 3 CPD Hours upon successfully attending the event.