THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
New Practitioners Induction & Multiple Licences Seminar- Overview of service offering in the 4 Categories (Mandatory Training)
Theme: Professional and compliance considerations for the new practitioner
Date: 26th – 27th January 2022
(This is one of the mandatory trainings for Practicing Certificate consideration)
Every year, the Institute continues to admit members into the category of practicing members. More than three hundred members have been admitted into this category and some members have already commenced practice on their own account, while others are yet to set up their practices. A successful practice requires a good layout and a properly executed plan, coupled with proper infrastructure to support an effective and compliant practice. The partners of the firm and all the staff involved are also expected to be adequately equipped with deep professional knowledge and the skills necessary to meet competence requirements in their area of practice.
It is also critical to note that over the last few years, there have been significant changes in the professional standards which has resulted in more stringent demands on the audit practitioners. Consequently, audit practitioners and other professionals in the accounting profession need to continuously up-grade their skills in order to meet the adherence threshold dictated by these professional requirements.
The regulatory framework governing audit and accounting professionals has also made substantial strides in order to remain responsive to developments and current trends in the sector. Most notably, the Accountants Act was on 21st September 2018 amended following the enactment of the Finance Act, No. 10 of 2018 which amongst other things expanded the definition of Accountancy.
Following that amendment “Accountancy” was defined as the practice in accounting, financial reporting, control systems, systems auditing, auditing, assurance, forensic accounting and auditing, finance, financial management, public finance management, taxation, financial risk management, management accounting and advisory services related thereto, in accordance with Sec.2 of the Act.
It is in line with this new definition that the Institute introduced and rolled out the Multiple licenses in November 2020. Consequently, the Institute has developed a two-day seminar dedicated to inducting new practitioners and equip potential practitioners with vast knowledge in practice as we operate under the multiple licenses regime.
This workshop is intended to provide the new practitioners with critical knowledge and insight that will enable them to ‘hit the ground running’ in their new role. It will also be a good opportunity for delegates to build their professional skills and gain knowledge in their respective areas of practice.
- Requisites for setting up a practicing firm – Firm Management Guide
- Growing your Practice – Roles and Responsibilities of the managing partner in a firm
- Mitigating the impact of the COVID-19 pandemic on the accountancy practice
- Positioning and preparing winning bids
- Challenges and Opportunities for Small and Medium Practices- SMPs
- Overview of services rendered under the four categories of licenses
- Practitioners resources and toolbox
This induction training is necessary for all Audit Practitioners who received their practising certificate in the year(s) 2018 to 2021.
All members who would wish to practice in the future
This is one of the mandatory trainings for Practicing Certificate consideration
This induction training shall be provided at a discounted charge of Sh.10,000 and shall be considered as one of the mandatory trainings for purposes of issuance of practicing licence for the year 2023.
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 10 CPD Units upon successfully attending each of the sessions.
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)