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TZID:Europe/Moscow
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DTSTART:20260101T000000
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DTSTART;TZID=Europe/Moscow:20260323T090000
DTEND;TZID=Europe/Moscow:20260327T153000
DTSTAMP:20260412T125015
CREATED:20251221T180110Z
LAST-MODIFIED:20260226T102524Z
UID:10003238-1774256400-1774625400@www.icpak.com
SUMMARY:FINANCIAL REPORTING FOR COUNTY GOVERNMENTS AND OTHER PUBLIC-SECTOR ENTITIES 2026
DESCRIPTION:INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA\n(Established under the Accountants Act\, Laws of Kenya) \nFINANCIAL REPORTING FOR COUNTY GOVERNMENTS & OTHER PUBLIC-SECTOR ENTITIES 2026\nDate: 23rd -27th March 2026 \nVenue: Sarova Whitesands Beach Resort\, Mombasa\nTheme: Strengthening Public Sector Accountability through Enhanced Financial Reporting Practices \nOVERVIEW \nHigh-quality financial reporting remains a cornerstone of good governance\, prudent resource management\, and public accountability across County Governments and public-sector institutions. In a context where citizens increasingly demand transparency and evidence-based decision-making\, financial reports must provide a clear\, accurate\, and comprehensive reflection of how public resources have been planned\, allocated\, and utilized. Robust reporting enhances credibility\, supports better oversight\, and enables institutions to demonstrate stewardship over assets\, liabilities\, and public funds. As governance evolves\, financial reporting is no longer a routine administrative function but a strategic tool that directly influences trust\, service delivery\, and institutional legitimacy. \nEffective financial reporting requires more than compiling figures at year-end. It is built on well-structured processes\, a strong internal control environment\, and adherence to established standards such as those issued by the Public Sector Accounting Standards Board (PSASB)\, which align with the International Public Sector Accounting Standards (IPSAS). This includes consistent application of recognition\, measurement\, and disclosure principles; maintenance of reliable asset registers; regular reconciliations; and preparation of budgets that clearly articulate strategic priorities. When executed properly\, these standards enhance comparability across public institutions and strengthen compliance with statutory requirements under the Public Finance Management (PFM) Act and its associated regulations. \nDespite advancements in public financial management reforms\, County Governments and public-sector entities continue to face persistent challenges that undermine the quality of financial statements. These include incomplete asset valuation exercises\, pending bills\, irregular expenditure\, weak documentation\, limited automation\, skills gaps\, and inconsistencies in applying IPSAS-compliant templates. Such challenges contribute to recurring audit queries\, delay in reporting\, reduced fiscal discipline\, and diminished public trust. Addressing these issues requires targeted interventions\, capacity building\, and leadership commitment to improving financial management systems and practices. \nThe public sector now operates in a dynamic environment shaped by evolving regulations\, heightened audit expectations\, technological disruption\, and increased scrutiny from citizens and oversight bodies. Complex issues such as climate-related disclosures\, budget execution pressures\, stalled development projects\, and governance risks demand robust and forward-looking reporting frameworks. County Governments must adopt modern approaches that integrate financial data with risk\, performance\, and service delivery information. Strengthening these linkages ensures that financial reports are not only compliant but also relevant\, insightful\, and aligned with national development agendas. \nFurthermore\, dependence on traditional manual processes exposes entities to errors\, inefficiencies\, and compliance challenges. Emerging digital solutions—including integrated financial management systems (such as IFMIS)\, digital asset registers\, automated reconciliations\, and analytics tools—offer opportunities to enhance accuracy\, timeliness\, and transparency. The adoption of these tools\, supported by trained professionals and sound internal controls\, enables institutions to transition from reactive financial reporting to proactive\, data-driven decision-making. This transformation strengthens accountability\, supports evidence-based budgeting\, and ensures that public resources are managed responsibly. \nIn response to these developments\, the Institute of Certified Public Accountants of Kenya (ICPAK) has organized this comprehensive program to build the technical and practical competencies required for preparing high-quality financial statements in line with PSASB and reporting requirements. The training provides an in-depth exploration of reporting standards\, budgeting frameworks\, audit processes\, internal controls\, asset management\, and emerging trends in public-sector reporting. Through expert-led sessions\, case studies\, and peer learning\, participants will gain practical insights into common pitfalls\, receive updated templates and tools\, and develop actionable strategies to strengthen financial reporting\, enhance governance\, and improve service delivery within their respective institutions. \nDuring the workshop the following areas will be covered: – \n\nPublic Sector Budgeting: Feedback from the Office of the Controller of Budget\nCashflow Management and financial planning for counties\n\n\nLong-term financial sustainability analysis\nRevenue forecasting and modeling\nFiscal strategy development\nBudget-performance linkage\nFinancial scenario planning\n\n\nDeferred Income & Taxation in the Public Sector\n\n\nRecognition & measurement of deferred income under IPSAS 23\nTreatment of conditional vs unconditional grants\nPAYE\, VAT & Withholding tax compliance for counties\nTax implications of county revenue streams\n\n4. Leases (IPSAS 43)\n\nTransition from IPSAS 13 to IPSAS 43 (IFRS 16 equivalent)\nRecognition of Right-of-Use (ROU) assets & lease liabilities\nLease disclosures and presentation\nPractical county examples\n\n\nMental Health & Wellness for Finance Professionals\nStrengthening Internal Audit Functions in Public Sector Entities\nRisk Management:\n\n\nInternal Controls\, Risk Management & Audit Readiness\nEnterprise Risk Management (ERM) frameworks for public sector entities\nIdentifying and assessing financial risks\nInternal controls & risk mitigation\nFraud risk and integrity management\nDeveloping risk registers and heat maps\n\n\nIPSAS Accrual: Milestones achieved so far\nIn depth discussions on:\n\n\nIPSAS 1 – Presentation of Financial Statements\nIPSAS 31 – Intangible Assets\nIPSAS 41 – Financial Instruments\n\n\nAsset Management & Reporting-IPSAS45\n\n\nAsset registers creation & verification\nValuation and revaluation of county assets\nDepreciation under IPSAS 45\nDisposal procedures & audit trails\n\n\nInventory management and stock taking\n\n\nFeedback from FiRe Award for Public Sector Entities\nUpdates from the Auditor General on Common Reporting Gaps\, Errors & How to Resolve Them\n\nTARGET AUDIENCE \nICPAK Members \,Accountants in public sector \,Members of Boards in public 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\, Professionals working in Government and private sectors\, Accountants in Academia\, current and potential members of ICPAK\, members of other professional associations. \nYOUR FINANCIAL COMMITMENT \nFINANCIAL COMMITMENT: \n\n\n\nCategory\nCharges Physical \n\n\nAssociate Members\nKes 54\,000 per Delegate\n\n\nFull Members\nKes. 59\,000 per Delegate\n\n\nNon-Member\nKes. 64\,000 per Delegate\n\n\nAccommodation\nDelegates are advised to make own travel and accommodation arrangements\n\n\n\n**Charges will cater for daytime meals\, conference giveaways\, learning materials\, and certificates of attendance.  \nCPD UNITS \nMembers of ICPAK and reciprocating professional bodies will be awarded 20 CPD Units upon successfully attending all seminar sessions. \nNITA REIMBURSEMENT  \nThe 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. \nFurther requests can be channeled to us via telephone calls on +254 719 074 000\,  or via email to marketing@icpak.com
URL:https://www.icpak.com/event/financial-reporting-for-county-governments-and-other-public-sector-entities-2026/
LOCATION:Sarova Whitesands Beach Resort & Spa Mombasa\, Mombasa
CATEGORIES:Local Seminars
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