PractitionersWorkshop-March2019

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ABOUT US The Institute is the sole professional accountancy organization established by law No. 11/2008 of 6 th May 2008 with a broad mandate to grow and regulate the accountancy profession WHAT WE DO We regulate the accountancy profession; We preserve the integrity of the accounting profession; We promote the competence and the capacities of our members. We deliver accounting qualifications, programs and examinations.We promote compliance with professional standards VISION A strong, relevant and sustainable profession MISSION To build a strong and engaged professional accountancy organization that anticipates stakeholder expectations and acts in the public interest OUR OFFICE KG 501 St 21, behind Career Center Building P.o.Box: 3213 Kigali Rwanda T: +250 784103930 F: +250 280103930 E: info@icparwanda.com
OVERVIEW The International Accounting Education Standards Board (IAESB) issued out International Education Standard (IES’s) including IES 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements aimed at protecting the public interest by requiring an Audit Engagement Partner to develop and maintain the necessary skills and training to perform the role effectively and to ensure audit quality. It recognizes that only those professional accountants who develop the required competencies specified in IES 8, will be able to deal with the complex situations that Audit Engagement Partners face. In a bid to comply with IES 8, Professional Competence for Engagement Partners responsible for Audits of Financial Statements, which appears to also be of interest to employers, regulators, government authorities, educational organizations, and other stakeholders who support the learning and development of professional accountants whilst complying with SMO 1- Quality Assurance, which sets out the requirements of an IFAC member body with respect to quality assurance review systems for its members who perform audits, review, other assurance, and related services engagements of financial statements, the Institute has organized a twoday compulsory workshop for all Practitioners to help them maintain competences in their specialist areas of practice and for all other individuals who may wish to obtain such knowledge. TRAINING PROGRAM AND LEARNING OBJECTIVES The two-day workshop is aimed at helping all practitioners and auditors to maintain competence in their specialist areas of practice taking into consideration the nature of their role to serve public interest but also in conducting their practices in an outstanding manner. This requirement is mainly due to the public interest nature of their role and the need to ensure that outstanding practice – mainly in regard to International Standard on Quality Control 1 (ISQC 1) compliance, is demonstrated, thereby enhancing public trust and confidence of the accountancy profession. Consequently, every Practitioner is required to comply with the requirements of ISQC1 and the IESBA Code of Ethics. YOUR INVESTMENT Rwf. 230,000 for all participants (VAT inclusive). Fees are payable to Bank of Kigali A/C No: 00040-0335616-29 or Ecobank A/C No: 110-04413101-72. CERTIFICATES Certificates of attendance will be awarded to all participants who attend and participate in all sessions of the workshop with 14 CPD hrs. AGENDA Day 1: Firm Inspections Each audit and accounting firm who is a member of a professional body who is a member of IFAC needs to comply with the requirements of ISQC 1 and the IESBA Code of Ethics. Attention will be given to the updated Code of Ethics that will become effective mid- 2019. On day one the facilitator will focus on how to empower firms to implement systems that are fully compliant with all these requirements. Facilitator will hand out comprehensive tools that have already been designed that can be tailored with great ease by each firm to be fit for purpose. The training will also focus on the role of the Regulator (where there is one), or the membership body who has a duty to monitor its members. This will include a discussion on how inspections will be performed, how to avoid high risk findings, and how to proactively maintain the firm’s ISQC 1 system, policies and procedures. Note: Ms. Marthie will present this session as an expert who has designed ISQC 1 systems and has maintained them for various firms, but also previously worked for a regulatory body. She has also set up and executed review programmes for regulators and IFAC member bodies. PRACTITIONERS /AUDIT FIRMS’ DEVELOPMENT WORKSHOP 3
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