THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
The 3rd Chapter Seminar- United Kingdom
Date: 12th – 15th June 2018
Venue: TBC (To Be Confirmed)
Theme ‘The accountancy profession, an essential driver of strong and sustainable organizations, financial markets and economies’
Professional accountants in business drive sustainable organizational success, their engagement at the global, regional, and local levels will enhance the relevance of the profession and help build a deeper engagement with business and government, ultimately supporting the profession’s contribution to stronger economies. In business they represent a broad spectrum of expertise and work in many sectors across all types and sizes of organization. Their diversity is a strength and an opportunity. The 3rd Chapter Seminar- United Kingdom will focus on the following:
The areas to be addressed include:
- The Role of Financial Markets in Sustaining Economic Growth in Developing Economies
A sound financial sector is crucial to make flows of capital more stable and hence more conducive to domestic growth. In the domestic perspective, strong supervision and regulation of the domestic financial system are an essential precondition to guarantee that financial intermediation directs domestic and foreign savings to the most profitable investment projects. By building investors’ trust, good domestic regulation can also contribute to dampen volatility at times of crisis, when fear of losses would otherwise induce international investors to discount their investments in emerging market economies more heavily. On the external side, international financial liberalization is a logical step in the progression from a closed to an open economy and is likely to imply a shift from a fixed to a more flexible exchange rate. When a country has reached a point where macroeconomic and financial conditions are sound, restrictions on the market determination of the exchange rate do not improve the country’s position in the eyes of international investors, and may burden the domestic economy with the cost of limited flexibility. We explore the insights from the sub-Saharan Africa.
- The Future of Audit and Accounting in relation to Dynamic Technological World.
The future of auditing is said to be dependent on accounting software and IT matters, how business should deal with the relentless advance of technology and innovation in financial technology. There’s an increasing trend for systems producing digital invoices, if they’re in a format that can be read by another computer, they can be automatically processed. Management strengths among the leaders of the world’s IT giants, Transformational technology trends and what today’s gadgets tell us about the tech trends are shaping the world. Cryptocurrency and accounting-experts think about cryptocurrency, auto-enrolment and the skills Public accountants and auditors will rely upon. This chapter event therefore, will seek to address these issues.
- Financial reporting and Accounting Standards
The impact of IFRS 9 is uncertain and could result in volatile financials, with a lack of both regulatory and market preparedness ahead of half year result of financial 2018 2018, the speakers will discuss some of the key topics regarding the new regulation, including how banks and clients will be affected, who is best placed to ensure firms are prepared for implementation and the aspects the industry should be most concerned about.
The International Accounting Standards Board (IASB) issued IFRS 16 Leases in January 2016, effective for financial periods beginning on or after 1 January 2019. IFRS 16 replaces the previous leases Standard, IAS 17 Leases, and related Interpretations. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (‘lessee’) and the supplier (‘lessor’). Owing to the new standard, there are practical and theoretical challenges in applying the new leasing standard we will therefore, seek to address:-
- Why time is of the essence in its application
- Why IFRS 16 will radically impact the retail sector
- Unravelling leases-With IFRS 16 now in place, business need to look to their leases
- Preparing for IFRS 16
- What should accountants be doing now to prepare for IFRS 16 implementation
- Tackling financial statement disclosure
- As the IASB considers how best to tackle financial statement disclosures we look at why this is an ongoing issue and what can be done about it
- Emerging Issues in taxation
The drastic US tax reforms has sent shock waves across the world as The US is now poised to be the new tax haven. This has made several countries to rethink their corporation tax rates so as not to lose their attractiveness. Countries are considering lowering their tax rates to remain competitive. Further, the reduction of rates by major economies may lead to a ripple effect for developing economies like Kenya that may want to reduce their tax rates in conformity with their trade partners. we therefore, explore the this together with the new developments in:-
- Value Added Tax
- International tax issues
- Double taxation relief
- Impacts of trading blocks
- Effects of BREXIT
- Impact of devolution on taxation
- Sustainability Reporting
Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility (CSR) reporting, and more. It is also an intrinsic element of integrated reporting; a more recent development that combines the analysis of financial and non-financial performance. We therefore, seek to identify who should report, who are the major providers of sustainability reporting guidance and the internal benefits and external benefits of sustainability reporting.
- Sovereign Financing and International Law
Close to twenty-five per cent of total Government revenue, is going towards servicing debts. Unfortunately, the rate at which the economy is growing is not keeping up with the rate at which our debt levels are rising. The event will try to analyze: –
- Principles on Responsible Sovereign Lending and Borrowing
- Understanding the nature of sovereign credit risk is of key importance given the large and rapidly- increasing size of the sovereign debt markets
- Sovereign credit riskand Challenges of meeting its loan obligations, as happened to Cyprus in 2013 and Greece
- Overview of The Kenyan debt Sustainability
- Excelling in the New Business Arena
The legacy models of the past need to be left behind for accountants to excel in the new business arena, diversity and inclusion now and in the future, embracing women as effective leaders as they are perceived to be multi-taskers, have emotional intelligence, manage stress well and excel at listening. On the road to leadership should we match strengths with interests or embrace creativity to help in bringing out the best. Businesses today need a cultural shift that gives employees the freedom to be creative and innovative to move forward
1.0 About the Seminar
This will be the 3rd Chapter Seminar- United Kingdom.
The seminar will benefit from participation and input from ICAEW and ACCA institutions that ICPAK has entered into memorandum of agreements with.
2.0 About London
London is the political, economic and cultural capital of Britain, and its world class tourist attractions are renowned across the globe. The Greater London area is bursting with attractions for visitors of all ages. With 30 historic gardens and 123 historic buildings, London also has more than 200 museums, 600 cinema screens, and 108 music halls. London’s 33 boroughs, including the City of London, are spread over an area of 1572 square kilometres. The river Thames runs through the heart of London, from Richmond in the west, through the central London borough of Westminster, to Greenwich in the east. London river cruises and river buses are a great way to see the city.
London is incredibly well-connected, with five international airports and the high-speed Eurostar rail link. More than 50 countries are within a three-hour flight time and 310 international destinations have direct links to London. London’s history stretches back over thousands of years, and the city boasts four World Heritage Sites: the Palace of Westminster and Westminster Abbey, the Tower of London, Maritime Greenwich and the Royal Botanic Gardens, Kew
3.0 CPD Units
Members of ICPAK and reciprocating professional bodies will be awarded 20 CPD Units upon successfully attending all seminar sessions
4.0 Target Audience
Accountants living and working in UK, Kenya, Chief Executive officers, Managing Directors, General Managers, HR directors/managers, Marketing directors, finance and non-finance directors/managers and other top management in both private and public sectors
5.0 Financial Commitment
The seminar charges for the 3rd Annual Chapter Seminar – United Kingdom are as follows:
|Category||Early Bird Registration||Normal Registration|
|Booking & Payment on or before 2nd May 2018||Booking & Payment or LSO/LPO received by ICPAK after COB 2nd May 2018|
|Members||KShs. 104,950.00||KShs. 109, 950|
|Non-Members & International Delegates||KShs. 114, 950||KShs. 119, 950|
|International Delegates||1100 USDs||1100 USDs|
|Accompanying Persons||To Be Confirmed- KShs /USDs||To Be Confirmed- KShs /USDs|
These charges cover conference fees, writing material and meals during the conference. The seminar package includes cocktail and excursions.
6.0 Instalment Payments
Delegates may pay in consecutive instalments using the early bird rate fees provided above. The deadline for early bird rate is on 2nd May 2018
Payment after that will not qualify for the discount offer, the full seminar fees must be paid on or before the Friday 15th May 2018 deadline.
7.0 Travel Information (VERY IMPORTANT)
Kenyan delegates will require VISA to enter UK. Yellow fever certificate and hotel booking are also essential for a smooth travel. Evidence of Hotel booking may be necessary at the point of entry. You are also advised to carry some cash in globally acceptable currency.
Delegates from other nationalities are requested to check with their United Kingdom Embassy/ High Commission for their travel requirements. We will assist on letters of invitation or any other confirmations that may be needed to facilitate issuance of VISAs
8.0 Special Needs
If you have special dietary or religious requirements, or should you need any particular assistance kindly refer to the event coordinator on firstname.lastname@example.org .
More details on planned site visits – including historical sites and shopping destinations – and the associated costs will be communicated in due course.
10.0 Dress Code
The dress code for the event is Business Casual
11.0 Online Booking
We call on seminar participants to note that booking for the 3rd Annual Chapter Seminar – United Kingdom is available only online at www.icpak.com/events and will close on the 15th May 2017. Delegates are reminded to note that online booking for events is mandatory.
12.0 National Industrial Training Authority (NITA) Reimbursement for Kenyan Delegates
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Kenyan 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).
13.0 Sponsorships, Partnership Opportunities & Additional Information
This seminar presents a unique opportunity for brand positioning and communication that will enjoy optimal visibility before potential targeted customers. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from item sponsorships, exhibitions, advertising and sub-event sponsorship within the major event
The seminar attracts over 100 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring the event can reach us through email@example.com
Further requests can be channelled to us via telephone calls on +254 733 856 262/ 727 531006 or via email to firstname.lastname@example.org or email@example.com . We encourage members to regularly visit our website www.icpak.com for updates.