To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
THE IFRS MASTER CLASS 2026 (Mandatory Training)
Theme: Navigating the Complexities of Internal Financial Reporting StandardsÂ
Date: 13th -17th July 2026
Time: 09.00am-03.30pm
Venue: Radisson Blu Hotel Nairobi
This is one of the mandatory trainings for Practicing Certificate consideration
OVERVIEW
The global financial reporting landscape is undergoing significant transformation driven by heightened expectations for transparency, comparability, and the integration of sustainability information into mainstream reporting. In response, the IFRS Masterclass is designed as an intensive programme aimed at strengthening technical competence in both financial and sustainability reporting frameworks, while enhancing professional judgement in complex reporting environments.
The programme provides a comprehensive coverage of key International Financial Reporting Standards (IFRS), emerging sustainability disclosure requirements, and specialised reporting frameworks. It equips participants with practical skills to interpret, apply, and critically evaluate financial reporting standards in a manner that supports high-quality, decision-useful financial information.
Core financial reporting areas include IFRS 18 on Presentation and Disclosure in Financial Statements, IFRS 7 on Financial Instruments Disclosures, IAS 24 on Related Party Disclosures, and IAS 29 on Financial Reporting in Hyperinflationary Economies. These topics strengthen participants’ ability to enhance disclosure quality, improve transparency in financial instruments, and address the impact of economic volatility on financial reporting.
The Masterclass also delves into IFRS Sustainability Disclosure Standards, with a focus on IFRS S1 and IFRS S2. Participants will explore the selection and reporting of sustainability metrics and targets, scenario analysis, greenhouse gas (GHG) accounting, and the integration of climate-related risks into strategic and financial decision-making. This ensures alignment with global and local ESG reporting expectations and emerging investor demands.
Specialised technical areas are also covered, including IFRS 16 on Leases, with emphasis on recognition, measurement, and disclosure of right-of-use assets and lease liabilities. In addition, participants are introduced to the International Non-Profit Accounting Standards (INPAS), including their structure, applicability, and relationship with IFRS and IPSAS frameworks, particularly within the non-profit reporting environment.
Further technical depth is provided through IFRS 5 on Non-current Assets Held for Sale and Discontinued Operations, IFRS 17 on Insurance Contracts, and IAS 26 on Accounting and Reporting by Retirement Benefit Plans. These standards address advanced issues relating to classification, measurement, actuarial assumptions, and disclosure requirements in specialised reporting contexts.
The programme concludes with applied insights drawn from financial reporting review outcomes, highlighting common compliance gaps and emerging trends in practice. This is complemented by a practical session on investing in the stock exchange.
Key Topics
| DAY | MODULE | TOPICS |
| DAY 1 | A.  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 |
| B.  IFRS 7 – Financial Instruments: Disclosures | ·        Risk disclosures (credit, liquidity, and market risks).
·        Fair value hierarchy and sensitivity analysis. ·        Importance of transparency in financial instruments reporting |
|
| C.  IAS 24 (Related Party Disclosures) & IAS 29 Financial Reporting in Hyperinflationary Economies
 |
IAS 24 Related Party Disclosures
·        Identification of related party relationships ·        Related party transactions and balances ·        Key management personnel disclosures ·        Measurement and disclosure considerations ·        Compliance and transparency requirements IAS 29 Financial Reporting in Hyperinflationary Economies
|
|
| DAY 2 | D.  IFRS S1(Metrics & Targets): Selecting and Reporting Sustainability Metrics | ·        Principles for selecting appropriate metrics
·        Industry-based disclosures and use of SASB standards ·        Quantitative vs qualitative metrics ·        Data sources, assumptions, and estimation uncertainty ·        Transition planning |
| E.    IFRS S2: Scenario Analysis | ·        Purpose and Benefits of Scenario Analysis
·        Types of Scenarios ·        Resilience Assessment ·        Integration into Strategic Planning ·        Disclosure Expectations under IFRS S2 ·        Governance of Scenario Analysis ·        Challenges and Best Practices |
|
| F.  IFRS S2: GHG Accounting | ·        Cross-industry climate metrics
·        Introduction to GHG Emissions ·        Climate-Related Financial Risk and GHG Emissions ·        GHG disclosure ·        GHG key concepts ·        GHG measurements ·        Disaggregation of GHG emissions. |
|
| DAY 3 | G.  IFRS 16 – Leases | ·        Lease identification and definition (right-of-use model)
·        Initial recognition of lease liability and right-of-use asset ·        Measurement: discount rates and lease term determination ·        Subsequent measurement and remeasurement triggers ·        Presentation and disclosure requirements |
| H.  The Global Non-Profit Reporting Landscape & Introduction to INPAS | ·        Unique characteristics of NPO financial reporting
·        Limitations of existing frameworks ·        Definition of Non-profit organisations ·        Scope and applicability of INPAS ·        Key principles underpinning the standards ·        Comparison with IFRS and IPSAS. |
|
| I.    Structure and Key Components of INPAS | ·        Structure of INPAS
·        Financial statements required under INPAS: o  Statement of Financial Position o  Statement of Income and Expenses o  Statement of Cash Flows o  Statement of Changes in Net Assets ·        Compliance with INPAS ·        Narrative reporting requirements |
|
| DAY 4 | J.   IFRS 5- Non-current Assets Held for Sale and Discontinued Operations | ·        Classification criteria for held-for-sale and discontinued operations
·        Measurement at lower of carrying amount and fair value less costs to sell ·        Cessation of depreciation and amortisation ·        Separate presentation in statement of financial position and profit or loss ·        Disclosure of results and cash flows from discontinued operations |
| K.  IFRS 17 – Insurance Contracts
 |
·        Identification and scope of insurance contracts
·        Measurement models (GMM, PAA, VFA) ·        Fulfilment cash flows and risk adjustment ·        Contractual service margin (CSM) recognition and release ·        Presentation and disclosure of insurance revenue and liabilities ·        Emerging issues |
|
| L.   IAS 26- Accounting and Reporting by Retirement Benefit Plans | ·        Plan classification and benefit obligation measurement basis
·        Fair value measurement of plan assets and valuation techniques ·        Actuarial assumptions and present value of defined benefit obligations ·        Surplus/deficit determination and funding status ·        Financial statements structure and disclosure of actuarial information |
|
| DAY 5 | M. FiRe Award feedback | ·        Key areas of non-compliance
·        Future trends in financial reporting |
| N.  Investing in the Stock Exchange | ·        Investing in the Stock Exchange |
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 FINANCIAL COMMITMENT
The seminar charges are Ksh 95,000 per delegate for both members and non-members.
CPD UNITS
Members of ICPAK and reciprocating professional bodies will be awarded 20 CPD Units upon successfully attending all seminar sessions.
NITA REIMBURSEMENT
The Institute is registered as a trainer with the National Industrial Training Authority (NITA) 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. To qualify you should apply to NITA for approval prior to the date of the seminar
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.
