To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
THE IFRS MASTER CLASS 2025 (MANDATORY TRAINING)
Theme: Embracing IFRSs for quality corporate financial reporting in Kenya
Date: 14th – 18th July 2025
Venue: Raddison Blu Hotel, Nairobi
(This is one of the mandatory trainings for Practicing Certificate consideration)
Overview
Accounting standards are designed to bring consistency to accounting language, practices, and statements, and to help businesses and investors make educated financial analyses and decisions. The standard setting bodies set the standards to “bring transparency, accountability, and efficiency to financial markets around the world, therefore fostering trust, growth, and long-term financial stability in the global economy.” Companies benefit from the IFRS because investors are more likely to put money into a company if the company’s business practices are transparent.
Financial reporting is therefore, a critical catalyst for economic growth and development. Investors and other stakeholders rely on financial reports for decision making and gauging the financial performance and health of an organization. Financial reporting has been given significant attention by different users of an entity’s financial statements to guide their various judgements and decisions. This has resulted to great emphasis and focus on maintaining the highest quality of financial reports prepared by an organization. The professional accountant and accounting practitioners to keep abreast of these developments to ensure proper and informed contribution to business performance and growth.
It is against this background that the Institute has planned an IFRS Masterclass to update and equip the participants with the current trends in the standard setting arena and encourage the delegates to share their experiences on the implementation of the new standards. This will also extend to how the adoption and implementation of the standards is taking place under the pandemic environment and the way forward as the economies and organisations across the world cope with the pandemic.
The IFRS Masterclass seeks to assist participants in understanding the bottlenecks and challenges in adoption and implementation of the new standards and how to effectively apply the existing standards to maintain a high quality of financial reporting across the global markets.
| TOPICS | AREAS TO BE COVERED | |
| DAY 1 | · Overview of emerging issues in the Accountancy profession | Overview of new trends and changes in standards |
| · IFRS 18: Presentation and Disclosure in Financial Statements
|
· Introduction to IFRS 18
· Objective and Scope of IFRS 18 · Presentation of Financial Statements · Disclosure Requirements · Impact of IFRS 18 on financial reporting · Challenges and best practices in implementing IFRS 18 |
|
| DAY 2 | · Accounting for Revenues
|
IFRS 15: Revenue from Contracts with Customers
· Overview of IFRS 15 · Five-Step Model for revenue recognition · Recognizing revenue and contract costs · Disclosures |
| · IFRS 9
· IFRS 10, 11 & 12: |
· Requirements of IFRS 9 and Computations and examples
· Consolidation, Joint ventures and disclosures of interests in other entities |
|
| DAY 3 | IFRS 16 Leases and IPSAS 43 | · Scope
· Identifying a lease · Determining lease term · Lessee accounting · Presentation · Disclosures · Lessor accounting · Sale and lease back transactions |
| IAS 36 and IPSAS 21
|
Impairment of assets and impairment of non-cash generating assets under IPSAS 21 similarities and differences I requirements | |
| Code of ethics for accountants | · International Code of Ethics for Professional Accountants (IESBA Code)
· Conflict of interest and threats to accountants: -practitioners, employed accountants in service, internal audit, assurance etc · Responsibilities of professional accountants in safeguarding ethical practices for organisations |
|
| DAY 4 | IFRS S1 and IFRS S2 (General Requirements for Disclosure of Sustainability-Related
Financial Information) & (Climate-Related Disclosures)
Ethics and sustainability |
Overview of IFRS S1 & S2
IFRS S1 · Identification and disclosure of sustainability-related risks and opportunities · Assessing materiality · Core contents · Governance, Strategy, Risk Management and metrics and targets
IFRS S2 – An entity is required to identify climate-related risks and opportunities that could affect the entity’s prospects over the short, medium and longterm. · Overview – understanding of disclosure requirements · Core content · Governance · Strategy · Climate-related scenario analysis · Risk management and Transparency around climate-related risks and opportunities · Metrics and targets · GHG emission disclosures · Industry-Focused Examples and Case Studies |
| DAY 5 | · Financial Wellness
· Technology, Artificial Intelligence and Accounting |
· Financial planning and wellness
· Future of Accounting · Technological advancements and accounting · Artificial Intelligence and Accounting
|
Target Audience:
ICPAK Members ,Accountants ,Members of Boards in public and private corporations, Chief Finance Officers, Finance Directors and Managers, Private and Public Audit Practitioners, Public Sector Accountants, Transaction Advisors, Engagement Partners and Key Audit staff, Banking, Financial services sector Accountants, Internal Auditors, Tax Practitioners, Professionals working in Government and private sectors, Accountants in Academia, current and potential members of ICPAK, members of other professional associations.
Your investment:
This Master Class shall be provided at a cost of Kes.95,000.
Continuous Professional Development Units:
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending each of the training sessions of the Master Class.
Online Booking:
We call on all participants to note that booking 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).
Partnership Opportunities
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or inquiries please email raphael.nguli@icpak.com.
Further requests can be channeled to us via telephone calls on +254 719 074 100, or via email to marketing@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
