IPSAS Accrual Accounting Workshop- North Rift Branch

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)

IPSAS Accrual Accounting Workshop (North-Rift Branch)
Theme: Advancing Public Financial Management through IPSAS Accrual Accounting
Date: 19th – 20th March
Time: 9.00AM – 4.00PM
Venue: Ateker Hotel Limited, Lodwar Turkana

Overview

Public sector entities globally continue to transition from cash-basis accounting to the International Public Sector Accounting Standards (IPSAS) Accrual basis to enhance financial transparency, accountability, comparability, and decision-usefulness of financial information.

In Kenya, this reform agenda gained significant momentum following the Cabinet approval in March 2024 of the transition from cash-basis to accrual-basis accounting with effect from 1 July 2024. This transition marks a critical milestone in public financial management reforms and places increased responsibility on accounting officers, finance teams, auditors, and oversight institutions to prepare and use accrual-based financial information.

While cash-basis accounting focuses on cash flows, it does not provide a comprehensive view of an entity’s financial position, assets, liabilities, commitments, and long-term obligations. Consequently, governments operating under cash basis often lack complete and up-to-date records of assets and liabilities, limiting fiscal transparency and informed decision-making. The adoption of IPSAS Accrual accounting addresses these limitations by recognizing transactions and events when they occur, rather than when cash is received or paid, thereby providing a more faithful representation of financial performance and position.

Topical areas are as follows:

1. Property, Plant and Equipment & Intangible Assets

• Recognition and measurement of PPE (IPSAS 17)
• Depreciation, revaluation, impairment, and derecognition
• Intangible assets (IPSAS 31): identification and valuation

2. Revenue Recognition in the Public Sector

• Revenue from exchange transactions (IPSAS 9)
• Revenue from non-exchange transactions (IPSAS 23)
• Grants, transfers, and conditional funding

3. Employee Benefits

• Overview of IPSAS 39
• Short-term, post-employment, and other long-term benefits
• Recognition and measurement challenges

4. Leases – IPSAS 43

• Right-of-use (ROU) asset and lease liability
• Determining the lease term
• Recognition criteria
• Initial measurement of; ROU asset & Lease liability
• Subsequent accounting; Depreciation of ROU assets & Interest and remeasurement of lease liabilities

5. Inventory – IPSAS 12

• Scope
• Recognition and measurement of inventory
• Inventory valuation
• Inventory control and verification
• Presentation and disclosure requirements

6. Sustainability Reporting for the Public Sector

Target Audience

This workshop will be useful to all professional Accountants and those aspiring to join the profession, Compliance and Risk Management Officers, Internal and External Auditors.

 Continuous Professional Development Units (CPD UNITS):

Members of ICPAK and those from reciprocating professional bodies will be awarded 14 Structured CPD Units upon successfully completion of the seminar.

Financial Commitment:
The workshop charges are Kes. 10,000. Charges will cater for the seminar  fees, learning materials, and e-certificates of attendance.

Online Booking:
Registration: Delegates are reminded to note that online booking for the seminar is mandatory Online Booking We call on workshop participants to note that booking is available only online at www.icpak.com and will close one day before the training session. Delegates are reminded to note that online booking for the training is mandatory.

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 0711 148569,  or via email to Ann Chomba  at ann.chomba@icpak.com with a copy to memberservices@icpak.com.

We encourage members to regularly visit our website https://www.icpak.com for updates