THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
IFRS 10 – Consolidated Financial Statements Webinar
Theme: Enhancing Quality of Group Reports in Uncertain Environment (Mandatory Event for Practitioners)
Date: 4th March 2020
Time: 4 – 6 PM
The COVID-19 pandemic crisis still appears to be continuing with its destructive impact across most economies around the globe. The economic effects of this devastating pandemic mean that investors and other stakeholders need high-quality financial information more than ever, especially multinational entities with footprints in diverse geographical locations. The same applies to parent companies with several subsidiaries and associated entities.
IFRS 10 Consolidated Financial Statements outlines the requirements for the preparation and presentation of consolidated financial statements, requiring a company to consolidate entities it controls. Control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee. This consolidation takes a complex turn with the impact of COVID-19 on the economic transactions of business entities. The standard was issued in May 2011 and applies to annual periods beginning on or after 1 January 2013.
Due to recent developments, entities will be required to pay keen attention to all aspects surrounding consolidation of financial statements to ensure accurate and reliable information to the different stakeholders.
To help address the questions and any other concerns around the consolidation of financials statements related to IFRS 10, the Institute has organized a Webinar to address this critical topic.
To guide the discussion during the Webinar, the following areas will form the focus of this very important virtual event.
- Defining the principle of control, and
- Establishing control as the basis for consolidation
- Impact of COVID-19 on quality of consolidated financial statements
- Disclosure considerations
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and those from reciprocating professional bodies will be awarded 2 Structured CPD Units upon successfully completion of the Webinar.
The Webinar charges are Kshs. 1,500. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
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)
We encourage members to regularly visit our website https://www.icpak.com for updates.