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 Accountants Act, Laws of Kenya)
THE IPSAS MASTERCLASS 2026 (Mandatory Training)
Theme: Driving Sustainable Public Value through High-Quality Reporting
Date: 24th – 28th August 2026
Venue: Enashipai Resort & Spa, Naivasha
(This is one of the mandatory trainings for Practicing Certificate consideration)
OVERVIEW
The role of public sector financial reporting continues to evolve beyond traditional stewardship and compliance objectives. Governments and public sector entities are increasingly expected to demonstrate how public resources are managed to create sustainable public value, strengthen fiscal resilience, enhance service delivery, and respond to emerging economic, social, and environmental challenges.
Against this backdrop, the International Public Sector Accounting Standards (IPSAS) continue to play a critical role in promoting transparency, accountability, and comparability in public sector financial reporting. At the same time, new developments in sustainability reporting, climate-related financial disclosures, natural resource accounting, government finance statistics, public sector digital transformation, and public financial management reforms are reshaping the reporting landscape globally.
In Kenya, the implementation of IPSAS Accrual remains a strategic national priority under the Constitution, the Public Finance Management Act, and broader public sector reform initiatives. As public sector institutions seek to strengthen accountability and improve decision-making, there is an increasing need for finance professionals to understand not only the technical requirements of IPSAS but also how financial reporting supports public value creation, fiscal sustainability, and stakeholder trust.
Recognizing these developments, this Masterclass aims to provide participants with deep technical and strategic insights into emerging IPSAS developments, sustainability-related reporting, public sector reforms, and implementation challenges. The Masterclass will bring together accountants, auditors, regulators, policymakers, public finance practitioners, and development partners to share experiences, discuss emerging issues, and explore practical solutions to contemporary public sector reporting challenges.
LEARNING OBJECTIVES:
This program is divided into the following five days covering various aspects:
| DAY | MODULE | TOPICS |
| DAY 1 | A.  Reflections on the First Year of IPSAS Accrual Implementation | ·        Policy intent versus Implementation reality
·        Opening balances and first-time adoption challenges ·        Capacity, skills, and change management ·        Asset Recognition and Management in the Public Sector ·        Key lessons learned from preparers’ experiences ·        Expectations of auditors and oversight bodies post–year one
|
|  | B.  IPSAS 46: Measurement
 |
·        Purpose of IPSAS 46
·        Core objective ·        Key measurement bases introduced ·        Initial vs subsequent measurement ·        Measurement of liabilities ·        Consistency principle ·        Impact on financial reporting ·        Key challenge for implementation
|
|  | C.  IPSAS 42: Social Benefits | ·        Definition of social benefits
·        Scope and definitions: social risks vs market risks ·        Recognition criteria and measurement of social benefits ·        Recognition & measurement of liabilities ·        Timing of recognition ·        Distinction from other transfers ·        Key judgment areas ·        Disclosure requirements ·        Financial reporting impact |
| DAY 2 | D.  IPSASB SRS: Understanding the IPSASB SRS 1 Reporting Architecture
 |
·        The Need for Sustainability Reporting
·        Relationship with other standards ·        Phases of Adoption in Kenya ·        Purpose and scope of IPSASB SRS 1, Climate-related disclosures ·        Distinction between own operations & public policy programs ·        Position of sustainability disclosures within general-purpose financial reporting ·        Relationship between IPSASB SRS 1 and financial statements ·        Transition from voluntary ESG reports to regulated disclosures
|
|  | E.  IPSASB SRS 1: General Requirements | ·        Sources of Guidance
·        Location of Disclosures ·        Timing of reporting ·        Comparative information ·        Statement of Compliance ·        Judgments, uncertainties & errors ·        Best practices in data collection ·        Building capacity within the organization ·        Transition Reliefs
|
|  | F.  IPSASB SRS 1: Materiality | ·        Definition and Concept of Materiality
·        Materiality Judgment Process ·        Sources of guidance (Waterfall approach) ·        Double vs financial materiality ·        Sources of Information ·        Boundary of reporting ·        Integration with Risk and Opportunity Assessment ·        Documentation and Audit Trail
|
| DAY 3 | G.  IPSASB SRS 1: GHG Accounting | ·        Cross-industry climate metrics & targets
·        Introduction to GHG Emissions ·        Climate-Related Financial Risk and GHG Emissions ·        GHG disclosure ·        GHG key concepts ·        GHG measurements ·        Disaggregation of GHG emissions. ·        Computation of emissions ·        Conducting a carbon baseline assessment
|
|  | H.  Climate Finance, Green Budgeting and Sustainability Integration | ·        Integrating sustainability into public financial management
·        Climate finance architecture and funding mechanisms ·        Green budgeting and climate-responsive planning ·        Measuring and reporting climate-related expenditures ·        Linking sustainability reporting to public sector strategy and performance ·        Case studies and emerging global practices
|
|  | I.    IPSAS 39: Employee Benefits |
|
| DAY 4 | J.   IPSAS 40: Public Sector Combinations | ·        Introduction and Objective of IPSAS 40
·        Types of Public Sector Combinations ·        Determining the Type of Combination ·        Presentation and Disclosure Requirements ·        Strategic and Policy Considerations ·        Accounting for mergers & acquisitions
|
|  | K.  IPSAS 47: Revenue | ·        Key definitions
·        Identifying the revenue transaction ·        Binding vs non-binding arrangements ·        Revenue from transactions with non-binding arrangements ·        Revenue from transactions with binding arrangements ·        Recognition & measurement ·        Presentation & disclosure
|
|  | L.   IPSAS 44: Non-current assets held for sale & discontinued operations | ·        Objective of IPSAS 44
·        Scope and applicability ·        Classification ·        Recognition & measurement ·        Presentation & disclosure
|
| DAY 5 | M. IPSAS 43: Leases and Right-of-Use Assets | ·        Lessee accounting model
·        Right-of-Use (ROU) asset recognition ·        Lease liability recognition ·        Initial measurement ·        Subsequent measurement ·        Impact on financial statements ·        Exemptions ·        Disclosure requirements ·        Key implications for public sector entities |
|  | N.  Financial Wellness | ·        Building Wealth |
TARGET AUDIENCE:
This training will be useful to professional Accountants and professionals from the Public Sector.
 YOUR INVESTMENT:
This event shall be provided at a cost of KSh.95,000.
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS:
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending the event.
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 , you can also reach us through marketing@icpak.com
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)
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
