On his forthcoming Africa visit, IFAC Chief Executive, Fayez Choudhury, visited Rwanda for the 1st time from 25th to 26th April 2016. This is an exciting moment for both IFAC and iCPAR.
On his forthcoming Africa visit, IFAC Chief Executive, Fayez Choudhury, visited Rwanda for the 1st time from 25th to 26th April 2016. “This is an exciting moment for both IFAC and iCPAR.”
The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. It represents more than 175 national professional accountancy organizations (PAOs) from more than 130 countries and jurisdictions around the world. IFAC’s voice is heard at the highest levels, and it works closely with the major development banks, and multilateral institutions including the OECD, EU, and, in Africa, the Pan African Federation of Accountants and others.
On his 1st time visit to Rwanda, IFAC Chief Executive Officer had opportunity to meet:
Mr. Choudhury’s visit underscores IFAC’s deep, long-term commitment to iCPAR, and to ensuring the nation trains and develops an increasing number of home-grown professional accountants that will support the nation’s emergence as one of Africa’s leading economies.
“Mr. Choudhury will be travelling with Ms. Alta Prinsloo, IFAC’s Executive Director, Strategy and Chief Operating Officer. Ms. Prinsloo leads IFAC’s capacity building efforts globally.”
Mr. Choudhury recognizes the Rwandan government’s strong commitment to a home-grown accountancy profession which is essential to the nation’s continued economic growth, peace and prosperity. As iCPAR continues to grow independently, his visit was an ideal opportunity to seek the government’s continued support for the profession, and to highlight iCPAR’s important work in growing the profession from 45 accountants at the end of the genocide, to more than 361 qualified accountants today.
On Tuesday, 26th April 2016 at Gorillas Golf Hotel, The Institute of Certified Public Accountants of Rwanda (iCPAR) has launched its strategic plan.
On 5th January, the International Federation of Accountants (IFAC), the global organization for the accountancy profession selected the Association of Chartered Certified Accountants (ACCA) to support the Institute of Certified Public Accountants of Rwanda (iCPAR) as it takes its next strategic steps in development and growth.
In 2014, IFAC received almost £5 million from the UK Department for International Development (DFID) to fund professional accountancy organization (PAO) capacity building in ten emerging countries over a period of seven years. The project took the 2014 funding agreement forward in support of a third PAO following agreements for projects for Ghana and Uganda announced previously. Selection of ACCA was made following a global Call for Expressions of Interest and an extensive review process of its proposal, which involved the IFAC PAO Capacity Building Program Oversight Committee and Independent Selection Panel.
Under the project, ACCA has been working with iCPAR to update its strategic plan and create a work plan to implement the strategy, which will include support to review and strengthen its systems for accountancy education, qualification, and continuing professional development.
iCPAR was established in 2008 with the support of the Rwandan government and various donors, and was admitted as an IFAC Associate in 2012 after only four years. Today, the Institute has more than 361 qualified accountants supporting a robust economy that has experienced significant growth and is expected to continue to grow.
In addition to and separate from the above, on 26th April ACCA and iCPAR have signed an independent Memorandum of Understanding that will establish a framework for transparent collaboration on current and future needs. Both agreements will help foster a lasting, sustainable, collaboration that supports strategic growth.
“ACCA has 40 years of experience strengthening professional accountancy organizations, including working in emerging market economies and conflict and fragile states, and working with employers, governments, regulators, and other key players,” ACCA Executive Director of Markets Stephen Heathcote commented. “We strongly believe in the development of strong, self-sustaining national accountancy organizations, which in turn support a robust global profession. iCPAR has so much to build on—from its strong beginnings to its relationship with the national government—this agreement will give it the helping hand needed to fully support Rwanda.”
“During the Launch of iCPAR strategic plan, Hon. Minister of Finance and Economic Planning was the Guest of Honor”
IFAC CEO, Fayez Choudhury and IFAC’s Executive Director, Ms. Alta Prinsloo have also visited Gisozi Genocide Memorial site against the Tutsi.
ABOUT iCPAR
The Professional Accountancy Organization (PAO) mandated by law number 11/2008 to regulate the Accounting profession in the republic of Rwanda.
iCPAR is the only body authorized by law to register, and grant practicing certificates to Certified Public Accountants (CPAs) in Rwanda.
Certified Public Accountant Certificate holders that are registered as members of iCPAR are entitled to the CPA (R) designation (iCPAR Members).
About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.
About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
ACCA supports its 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com
About DFID
The UK Department for International Development (DFID) leads the UK’s work to end extreme poverty. They are ending the need for aid by creating jobs, unlocking the potential of girls and women and helping to save lives when humanitarian emergencies hit. For more information, visit www.gov.uk/dfid
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