INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under cap 531 of the Accountant Act, Laws of Kenya)
THE FINANCIAL REPORTING SEMINAR FOR COOPERATIVE SOCIETIES
Theme: “Creating Connections; Expanding Possibilities in the Cooperative Movement”
VENUE: Merica Hotel, Nakuru
DATE: 4th – 6th July 2018
Controlling a significant share of the country’s GDP, the cooperative movement in Kenya plays a vital role in the economy. In the wake of the ‘big four’ agenda, stakeholders are keen to make returns on some of the pillars; best relating to their interest; and push the country to a middle level economy. Cooperative societies and saccos are primarily envisioned to enable people and businesses meet their needs and transform their lives to greater comfort and well-being. Such an environment means the youth have hope and direction, the middle-aged are productive and the elderly will be content. However, despite the glory around the impressive growth in cooperative movements and saccos, there are exposure risks which if not addressed, will be of great worry to the sector. Of great concern is transparency and accountability in the leadership of these institutions.
To protect the gains achieved in the Sacco Societies for instance, the government took measures to ensure the movement operates according to international best practice. These include the establishment of the Sacco Societies Regulatory Authority (Sasra) through the Sacco Societies Act 2008, which introduced prudential regulations covering all deposit-taking Saccos to enhance transparency and accountability.
To address key financial reporting and management issues affecting this sector, ICPAK has organized this three-day seminar to provide participants with expert knowledge on reporting and regulatory requirements, compliance, updates and challenges affecting the cooperatives and saving societies in Kenya.
Thematic areas of discussion:
- Addressing the Innovation Gap in Cooperative Societies.
- Taxation in Cooperative Societies; Current and Emerging Trends.
- Dealing with Corporate Governance and Accountability Predicaments.
- Lending to Cooperatives; Views from the Cooperative Bank of Kenya.
- Overview of Key Reporting Standards Affecting Cooperative Societies.
- Member Education and Retention.
- Cash flow Management Vs Pressure for Dividends – Credit Risk Management.
- Addressing Non-compliance; Safeguarding member deposits and financial sustainability of the firm.
- Trends in Audit – Assimilating the Auditor’s Reports
- Review the 2017 FiRe Award Status Report: Major Areas of Non-Compliance for SACCOs
Finance Managers & Internal Auditors in SACCOs; Practicing Auditors, Accountants from SACCOs; Representatives of regulatory bodies (SASRA, CBK), Finance consultants and any persons seeking knowledge in SACCO financial reporting matters.
|Early Bird Discount
Before 25th June 2018
After 25th June, 2018
These charges cover conference fees, writing material and meals during the conference.
CPD Credit: 20 Hours.
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).
Kindly note that booking for the Conference is available only online at www.icpak.com/events. We accept payment via Mpesa, Bankers Cheque, Bank Transfer, MasterCard, Senator and Visa Card.
For event Exhibition and Sponsorship, please get in touch with Raphael Nguli on the above lines or email.