THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Advanced IFRS Seminar (Mandatory Training) – Recording
Date: 29th – 30th March 2023
(This is one of the mandatory trainings for Practicing Certificate consideration)
The new year presents an opportunity for renewed effort towards attaining financial reporting excellence for different entities across the economy. Preparation of good quality financial statements overrides all other endeavors of an organization to present a concise case on its state of financial performance and its competitive standing against peers in the industry. Financial statements which constitute the statements of financial position, income statements, cash flow statements, footnotes and tax returns are all key indicators of a business’s health and operational performance for any given period. These must be prepared accurately and in accordance with the existing financial reporting frameworks and guidelines.
The rapid developments in the standard setting environment have created many challenges to preparers and users of financial statements. The Covid-19 pandemic and other geo-political developments have equally created more complexity due to the uncertainties created across businesses. This has resulted to various entities in business looking for new ways of conducting business because of the disruptions and the unprecedented approach towards business operations. This has not only impacted the way transactions are recorded and reported in the annual reports and financial statements, but also new requirements for purpose of compliance with the financial reporting frameworks.
To provide the necessary updates, guidance, and advanced application in line with the expected compliance with the reporting standards, the scheduled IFRS seminar has been carefully tailored to meet the financial reporting requirements in view of the recent and current developments in corporate reporting under the IFRS framework. The virtual seminar will give the participants a practical opportunity to learn some of the latest developments in financial reporting and get details on the existing reporting standards.
The seminar sessions will also capture a review of the disclosure requirements for the various standards, which our specialist facilitators will provide guidance on the necessary requirements.
The seminar will focus on the following areas:
- IFRS 13 – Advance Fair value measurement and practical application
- IFRS 15 – Revenue from contracts with customers
- IFRS 16 – Leases and practical challenges in application
- IFRS 7 Financial Instruments: Disclosures
- IFRS 9 – Financial instruments: ECL models and disclosure requirements
- IFRS 17 – Insurance contracts and the anticipated implementation challenges – reconciliation of IFRS 4 and 17 requirements
Practical illustrations and interactive discussions will be used during the presentations.
Accountants in listed companies, pension scheme funds and insurance companies personnel. Personnel in organizations applying full IFRS, Audit Practitioners. This workshop will be useful to all professional Accountants and those aspiring to join the profession
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending the session.
Charges for the training will be Kes 10,000/= 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)