THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
IFRS 13- Fair Value Measurement Webinar – Recording
Date: 15th November 2022
IFRS 13 defines fair value, sets out a framework for measuring fair value, and requires disclosures about fair value measurements. It is applicable when another IFRS requires or permits fair value measurements or disclosures (except for exemptions under IFRS 13:5-7). The standard was originally issued in May 2011 and applies to annual periods beginning on or after 1st January 2013. IFRS 13 sets out a single framework for measuring fair value and requires disclosures about fair value measurements. The scope of IFRS 13 is wider than that of IFRS 7 it includes non-financial assets and liabilities measured at fair value.
IFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). When measuring fair value, an entity uses the assumptions that market participants would use when pricing the asset or the liability under current market conditions, including assumptions about risk. As a result, an entity’s intention to hold an asset or to settle or otherwise fulfil a liability is not relevant when measuring fair value.
This seminar will provide an opportunity for attendees to acquire more knowledge on the requirements of the standard. The webinar has been designed to focus on the following key topics: –
- Overview-Scope and background of the standard
- Key principles of fair value measurement
- Applying the measurement requirement of IFRS 13
- Fair value valuation techniques, inputs and fair value hierarchy
- Presentation and Disclosures
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 2 CPD Units upon successfully attending each of the sessions.
Charges for the training will be Kes 1,000/= which will cover workshop fees, materials, and e-certificates of attendance.
We call on Seminar participants to note that booking for 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)