ACCA, AFIAAR sign MoU to boost “accountancy quality” in Africa

The Association of Chartered Certified Accountants (ACCA) has signed a memorandum of knowing (MoU) with the African Forum of Independent Accounting and Auditing Regulators (AFIAAR) to amended "accountancy quality" and enactment nonrecreational improvement crossed the continent.

The MoU is aimed astatine strengthening practice betwixt autarkic audit regulators and the wide accountancy profession.

The statement was signed connected 26 June successful Mauritius astatine a hybrid ceremonial attended by AFIAAR Governing Board representatives and subordinate regulators.

These included the Financial Reporting Council of Mauritius, the Independent Regulatory Board for Auditors South Africa and the National Board of Accountants and Auditors Tanzania. 

AFIAAR chairperson Viswajithsing Tuhobol said: "High-quality audits are cardinal to nationalist trust, capitalist assurance and well-functioning markets. This concern recognises the complementary roles of regulators and the assemblage successful achieving that outcome.

"AFIAAR promotes prime done autarkic oversight, inspection and enforcement, portion ACCA strengthens prime done education, grooming and nonrecreational development.

"By bringing these strengths together, we tin heighten accountancy quality, accountability and assurance crossed Africa successful the nationalist interest."

According to a statement, the ACCA and AFIAAR program to align nonrecreational capableness to amended the prime of accounting.

The MoU sets a model for collaboration connected assemblage attractiveness, nonrecreational mobility, audit quality, regulatory capableness and aboriginal endowment development. The bodies besides agreed connected associated research, among different initiatives.

ACCA Africa manager Jamil Ampomah said: "Strong institutions beryllium connected trust, and spot depends connected some nonrecreational capableness and effectual oversight.

"By aligning nonrecreational excellence with robust oversight, AFIAAR and ACCA volition enactment unneurotic to fortify audit quality, enactment aboriginal endowment and lend to stronger reporting, governance and concern assurance crossed Africa."

Earlier this month, the ACCA signed an MoU with the Association of Mongolian Internationally Recognised Accountants to make the accountancy assemblage successful Mongolia.

"ACCA, AFIAAR motion MoU to boost "accountancy quality" successful Africa" was primitively created and published by The Accountant, a GlobalData owned brand.