NATIONAL PRACTITIONERS’ GROWTH FORUM (MANDATORY TRAINING) Virtual Option

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April 12, 2023 @ 9:00 am - April 14, 2023 @ 3:30 pm

| Ksh 15000

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

HYBRID NATIONAL PRACTITIONERS’ GROWTH FORUM (MANDATORY TRAINING) Virtual Option
Date: 5th to 7th July 2023
Venue: Zoom /Virtual Delivery 
(This is one of the mandatory trainings for Practicing Certificate consideration)

OVERVIEW:

The world is changing fast, and so are the roles of finance and accounting professionals. Professional accountants need to have the capability to strengthen organizations’ corporate governance and must also be fully equipped to deal with the rapidly changing environment in which they operate. The automation of many traditional accountancy tasks means that the role of the accountant is evolving.

Sweeping disruption of the accountancy profession is imminent. Massive technological changes and shifting consumer trends demand a new approach to how the industry creates value for clients. Some services are more vulnerable to disruption than others. Compliance will be increasingly automated going forward and limited advisory services will follow that trend. Automated processes can provide the bulk of services with oversight, while accounting professionals will focus on offering expert advice and insight, strengthening customer relationships in the process.

New technologies based on big data, business intelligence, analytics and the Internet of things (IoT) are reaching into every area of business life. An often-quoted statistic, although not entirely provable, says that nine-tenths of data available today was created in the past 24 months. This “big data” gives business leaders unprecedented amounts of information and the analytical tools for improved decision-making. In turn, financial advisors and accounting professionals will use the same tools to move from data entry, recordkeeping, and simple analysis to strategic business consultancy, financial controllers and CFOs use structured data, unstructured data, and predictive analytics to access massive banks of customer information, financial trends, and industry information to make insightful forecasts for clients.

The profession has a vital role to play at the heart of an ecosystem that links professional accountants to each other, and to organisations across the private and public sectors, to SMEs, to education, to government and policy makers. The study findings see a profession that is aware of the issues it needs to tackle, from skill shortages to ESG upskilling.

From an audit and assurance perspective, it is important to note that concerns on audit quality continue to be a key issue that is still drawing critical attention from the public and other stakeholders who rely on audited financial statements to make key business decisions and judgements.

While it is crucial to address these quality considerations, there needs to be an element of efficiency and cost optimization in the delivery of all audit and advisory engagements.  This is a critical consideration which the practitioners must give to their work as they endeavor to deliver the best service to their clients.

The impact of new developments spans across the private and public audit landscapes and the complexities arising from the global developments around the profession call for concerted efforts aimed at not only maintaining the quality of the work undertaken, but equally reassure the public that the audited financial statements and other advisory reports can be relied upon.  This trust aspect must be maintained at all costs if the accountancy profession must continue gaining the expected confidence and trust of the public.

It is against this background that the Institute has organized a three-day forum to discuss these critical developments which affect the practitioners in the different categories of practice, and the accountancy profession at large and seek to address the rising concerns of work quality while ensuring that efficiency in undertaking engagements is maintained.  To guide the discussion during this Seminar, the following topics of discussion will form the focus of this very important event.

Topics

  1. Global trends in utilization of technology within the accountancy practice
  2. Future Fit Accountants: Roles for the next decade
  3. State of the accountancy profession in Africa- Trends for accountants in practice within various jurisdictions
  4. Shifting landscape for practicing accountants: Utilization of technology for competitive advantage
  5. Implementation of firm and engagement level quality considerations – an in-depth assessment of the ISQM 1 and 2 requirements; ISA 220
  6. Audit approach and evaluation of audit considerations in line with changing standards- A focus on ISA 315 and ISA 500
  7. Overview of the taxation landscape and changing laws and the implications to practitioners
  8. Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction: Proposed Amendments to IAS 12 by IASB
  9. Overview of the developments within the standard setting environment – international financial reporting standards and the proposed sustainability reporting standards: Overview of IFRS for SMEs proposed changes.
  10. Setting up of a firm and submitting winning bids- Positioning practitioners for success through development of responsive proposals
  11. Going concern considerations – lessons from global and local economic challenges
  12. Key findings of the Audit Quality Reviews – Major concerns and practical responses to the issues.
  13. Firm records management best practice guidelines and effective compliance to standards on reporting
  14. Mental health for accounting practitioners during busy seasons
  15. Succession planning for SMPs
  16. Overview of services rendered under the four categories of licenses and the practitioner’s tool kit;

– Challenges and Opportunities for Small and Medium Practices – SMPs

TARGET AUDIENCE

This seminar is not limited to the accountancy profession only, staff from other units are highly encouraged to attend.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.

FINANCIAL COMMITMENT:

Category Charges
Associate Members Kes 15,000 per Delegate
Full Members Kes. 15,000 per Delegate
Non-Member Kes. 15,000 per Delegate

ONLINE BOOKING:

We call on Conference participants to note that booking is available only online at www.icpak.com/events.

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)

Details

Start:
April 12, 2023 @ 9:00 am
End:
April 14, 2023 @ 3:30 pm
Cost:
Ksh 15000
Event Categories:
,

Organizer

ICPAK

Other

CPD Hours
20
Associates Member Cost
Ksh 15,000
Full Member Cost
Ksh 15,000
Non Member Cost
Ksh 15,000
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About ICPAK

ICPAK is an Institution
mandated to protect and uphold public interest
as well as develop and regulate the accountancy profession in Kenya.

Member Of:

Contact Information:

P.O BOX 59963-00200,
CPA Center, Ruaraka, Thika road.
Nairobi, Kenya.
Telephone Line (Main) : +254 719 074 000
Mobile: +254 719 074 000
Email: icpak@icpak.com

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