THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
IPSAS and PFM Seminar
DATE: 17th-19th July 2018
VENUE: Garissa, North Eastern
TIME: 8:00am to 5:00pm
The public-sector entities have been preparing financial statements based on the International Public-Sector Accounting Standards (IPSASs) as endorsed by the Public-Sector Accounting Standards Board of Kenya in 2014. Staff were expected to acquaint themselves with the relevant, knowledge, skills and attitudes in order to efficiently and effectively guide the implementation of IPSAS. Adoption of IPSASs will require the designing and operationalization of sound financial policies, strategies and activities to, resource mobilization, allocation and utilization of resources for delivery of goods and services, reports and accounts for funds, outputs and results and external audit for oversight/ external accountability
Progressively, the public-sector entities were expected to transition from Cash Based IPSASs to Accrual Based IPSASs. It is for these reasons that the Institute of Certified Public Accountants of Kenya has organised a 3 days IPSASs/PFM seminar for participants who would wish to broaden their knowledge and deepen their skills in the public sector financial reporting and financial management.
This workshop aims to improve the quality of general purpose financial reporting by public sector entities, leading to increasing transparency and accountability. The workshop will be a refresher on the PFM Act 2012 and IPSASs especially on assets and liabilities reporting and provide guidance on compliance matters as summarized in FiRe award 2017.
The workshop will highlight on:
- Key Provisions of the PFM Act 2012 and Regulations 2015 on budget preparation, execution and reporting
- Budget Implementation &absorption of funds in the Public Sector.
2. Accountability in the Public Sector-The role of Audit Committees.
3. Preparation of Financial Statements under the various IPSAS
(Cash/Accrual) and Application of IPSAS Financial Statement requirement to public sector entities: The session will consider:
- Presentation of financial statements under IPSAS 1 and Cash Based IPSAS
- IPSAS 24 – Presentation of Budget Information in financial statements
- IPSAS 17 – Property plant and Equipment
- IPSAS 31 – Intangible Assets
- IPSAS 19 – Provisions, Contingent Liabilities and Contingent Assets
4. Transitioning to the Accrual Basis of Accounting: This will give an overview of the following areas:
- IPSAS 33 – First-time Adoption of Accrual Basis IPSASs
- IPSAS 40 – Public Sector Combinations
- IPSAS comparison to IFRS, similarities and differences
5. The benefits, Challenges and way forward of IFMIS in Kenya
6. FiRe Award year 2017:
- IPSAS/IFRS major non-compliance & findings
- Recommendations for the public Sector
1.0 Target Audience:
This workshop will be most beneficial to delegates drawn from both the public and private sectors particularly; Accountants in the public sector, Audit practitioners involved in the public sector, Scholars and consultants for public entities.
2.0 Online Booking
Kindly note that booking for the IPSAS and PFM Seminar 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. Delegates are urged to note that the bookings close on 18th April 2018 at 1700 hrs
3.0 IPSAS and PFM Seminar Charges:
The Charges for IPSAS and PFM Seminar which cover seminar materials, meals, and e-certificates of attendance is as provided under;
4.0 Continuous Professional Development Units –20
Members of ICPAK and other reciprocating professional bodies will earn 20CPD points upon successfully attending IPSAS and PFM Seminar
5.0 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).
6.0 Sponsorship Opportunities & additional information
The IPSAS and PFM Seminar attracts over 100 participants drawn from public sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through firstname.lastname@example.org
Further requests for the IPSAS and PFM Seminar can be channeled to us via telephone calls on +254 719 074 100/ +254 719 074 129 or via email to email@example.com. We encourage you to regularly visit our website www.icpak.com for more update