THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
IFRS Seminar – North Rift Branch
Theme: Achieving IFRS Compliance in a Dynamic Environment
Date: 25th – 26th March 2021
Time: 8am to 4pm
Venue: Sirikwa Hotel – Eldoret
OVERVIEW
International Financial Reporting Standards (IFRS) guide the accounting treatment and presentation of transactions and other events in the financial statements. Even though the International Accounting Standards Board (IASB) has made significant progress towards the global adoption of IFRS and achieve uniformity, the business environment is dynamic, especially with the recent Covid 19 pandemic.
As a result, companies are facing challenges in applying fundamental concepts of recognition, measurement, valuation and reporting of assets, and the preparation of financial statements. For example, many entities have had to change their business models and provide products and services virtually, leading to low asset utilization. Assets like property, plant and equipment and investment property may therefore require careful analysis from recognition, measurement and valuation and even presentation. The same case applies for liabilities arising from leases and financial instruments, beside the threat on the going concern of the entire entity.
It is against this backdrop that the Institute has organized a two-day branch workshop to engage preparers, auditors and other key stakeholders on addressing these challenges especially as entities consider the annual reports for year 2020.
Topics
- Property, Plant and Equipment, Investment Property and Intangible Assets IAS 18, IAS 40, IAS 38
- Financial Instruments and hedge accounting: IAS 32, IFRS 7 and IFRS 9
- Leases, IFRS 16
- Fair Value and Impairment of Assets IFRS 13, IAS 36
- Preparation of Financial Statements, Accounting Policies, Changes in Accounting Estimates and Errors, and Events after the reporting period IAS 1, IAS 8 IAS 10
- Consolidated Financial Statements, Separate financial statements, Associates and Jointly Controlled entities IFRS 3, 10, IAS 27 IAS 28
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully attending all seminar sessions.
FINANCIAL COMMITMENT:
Seminar charges are Kshs. 10,000. Charges will cater for meals, learning materials, and e-certificates of attendance.
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for the workshop 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)
Further requests can be channeled to us via telephone calls on +254 711 148569, +254 719 074 000 or via email to the Branch Administrative Ann Chomba at: ann.chomba@icpak.com with a copy to: judith.wambura@icpak.com
We encourage members to regularly visit our website https://www.icpak.com for updates.