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Pan-African accounting forum adopts strategy for regulation on continent
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Pan-African accounting forum adopts strategy for regulation on continent

he recently established African Forum of Independent Accounting and Auditing Regulators (AFIAAR) has adopted a strategy to drive future independent accounting and auditing regulation on the continent.

Formed in March, AFIAAR aims to promote a joint effort in strengthening transparency in audit and accounting with a view to boosting economic growth in Africa.

“Against the battered image of the profession, it is important to recognise that things do not change unless we change them,” AFIAAR’s chairman Admire Ndurunduru said at the organisation’s first meeting in Maputo, Mozambique this week.

“It is vital that all members actively participate and get involved in building AFIAAR as a credible institution which will instil the much-needed confidence in the accounting and auditing profession.”

“Oversight bodies, together with the profession, must promote transparency and effectiveness and support each other and our governments in the fight against corruption,” Ndurunduru added.

AFIAAR currently has 11 member countries who have pledged to work towards the goal of “becoming one African voice regarding auditing oversight and accounting standards and to support African audit and accounting organisations to collaborate to build capacity”.

Source: ANA|COMPATRIOT MAGAZINE

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