Economic success for Africa highlight of ICAEW conference

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Hosted by the Pan African Federation of Accountants (PAFA) and the Mauritius Institute of Professional Accountants (MIPA), the conference will be examining the theme 'Rising Africa: Partnering for Results' to explore the role of chartered accountants in delivering long-term sustainable economic success across Africa.

ICAEW will urge fellow national accountancy bodies to act as advocates for international accounting standards and best practice, in order to stabilise public finances and create a climate that attracts investment.

Robust accountancy bodies

Tony Hegarty, ICAEW senior advisor on International Development, and ICAEW regional director, Michael Armstrong, will be outlining the need for robust accountancy bodies to safeguard public finances, business and infrastructure for the long-term.

Drawing on experience in the United Kingdom and international partnership projects, Armstrong and Hegarty will present the results of ICAEW's work on delivering public finances that can be trusted, as well as the results of the first year of the ICAEW project Dialogue in Corporate Governance, which is exploring how the profession can spearhead this area.

"So far, ICAEW has worked in partnership with bodies in seven African countries to deliver capacity building projects. A robust accountancy profession serves the public interest, promotes investment, safeguards sound financial management by governments and helps develop more resilient businesses," Hegarty said. "It can increase social mobility by offering opportunities to talented young people - whatever their background. ICAEW firmly believes that by supporting strong national bodies we are helping to set the foundations for sustainable economic growth, and we are delighted to be here to share and investigate real solutions with our fellow bodies in Africa."

Deeper relationship

As part of the conference, ICAEW will also be renewing its Memorandum of Understanding with the Institute of Certified Public Accountants of Kenya (ICPAK). The two bodies have pledged to work together to strengthen the accountancy profession in Kenya, forging a deeper relationship between the two institutes, and opening up a route to providing recognition to each other's members.

"We are delighted to be strengthening the relationship between our two organisations," Armstrong said. "Like ICAEW, ICPAK has shown a dedication to the development and support of the accountancy profession in Kenya, helping demonstrate the key role its members play in national economic growth and prosperity. This agreement also recognises the rigour and evolution of our respective qualifications. We look forward to working together to help further support the accountancy profession across Africa."