INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
NATIONAL PRACTITIONERS’ & PROFESSIONAL FIRMS GROWTH FORUM
Date: 31st July – 2nd August 2019
Venue: Hilton Hotel – Nairobi
Accountancy practitioners offer critical services with far reaching benefits to the clientele. The practitioners have to adhere to strict compliance standard and the increasing expectations by the public on accountants. The occurrence of several scandals recently in both public and private enterprises have cast doubts on the role of accountants and auditors.
Further, the operating environment for auditors is rapidly changing from the adoption of latest technology by clients, changes in audit regulation which touch on fees and licensing, and increasing expectations of the public on auditors among others. In the face of all these, practicing accountants have an enormous task of not only being profitable but also to grow their firms without compromising on the quality of work and adhering at the expectations for practicing by ICPAK.
Automation of Audit Engagements
The changing nature of business has led to automation of operations by audit clients a significant part of this is through the application of computer systems in their work. This presents a challenge to the auditors who have to upgrade in order to match the IT requirements for efficiency use. Auditors can acquire audit software to help in the engagement. The purpose of this discussion is to review the main audit softwares that can be of use to auditors especially the small audit firms. The review should explore the benefits and challenges of audit automation to small audit firms.
Public Audit Act of 2015
The Public Audit Act of 2015 Sec 23 gives authority to the Auditor General to outsource the services of audit firms to undertake audits on his/her behalf. Over three years down the line, has this been realized? Discussions here will be geared towards equipping practitioners, finance and procurement experts with the necessary skills and practical steps of auditing public pending bills and be able to participate in bidding for these jobs if called upon by OAG.
Key Audit Matters and the New Auditor’s Report
ISA 701 provides for presentation of key audit matters in the course of the audit exercise which is expected to improve transparency and enhance the communication power of audit reports. What determines the scope of what to report as a key audit matter and other issues to communicate to those charged with governance?
Taxation – The Effect of the Proposed Taxation Regime in the 2019 Finance Bill
The 2019/2020 budget suggest numerous taxation laws/amendments which will affect auditors in tax practice. This discussion should review the proposed changes in the finance bill of 2019 which are likely to impact on the work of professional auditors.
Data Mining Tools for Auditors
A review of the existing software’s and the benefits of such to the audit process highlighting where they can be utilized. The discussion should review the main data mining tools/software available in the market and analyze how professional accountants can make use of them in the course of their work
The Finance Act of 2018 amended the Accountants Act of 2008 to recognize the specific services offered by accountants such as risk management, consultancy, systems audit, taxation among others. Further guidelines have been formulated to set minimum fees for professional services. What challenges do these portend for the audit practice? Is it time for professional firms to start consolidating?
Big Data Analytics and Artificial Intelligence
The world is moving towards big data analytics and artificial intelligence buoyed by advancements in technology. What do these developments mean for professional accountants? The discussion should evaluate the opportunities provided by the advancements and the challenges auditors should expect to face.
Sustainable Business Growth Strategies for Professional Practice
Professional accountants face a number of challenges in the management of their practice. One of the main challenges is to ensure growth of the practice in terms of clientele and revenues. In addition, accountants are not expected to advertise for their services. This discussion should explore the sustainable strategies to be used by professional accountants in growing their practices.
Determination of Unclaimed Assets in Compliance with UFAA Act of 2015
Here, delegates will be equipped with necessary skills required to audit public and private holders of unclaimed assets like banks, insurance companies, utility companies, universities and be able to undertake audits if called upon to bid by UFAA or OAG.
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CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all seminar sessions.
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).
This event presents a perfect opportunity for organizations to showcase their products and services to a target group with high purchasing power, both on personal and corporate levels. The event further presents a unique opportunity for brand positioning and communication for optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship/partnership opportunities range from cocktail, gala, media sponsorships, exhibitions and advertising. For more information or enquiries please email firstname.lastname@example.org
We encourage members to regularly visit our website www.icpak.com for updates.