VICKSON NCUBE

CHIEF EXECUTIVE OFFICER, PAFA

ICGFM 28
th
ANNUAL
INTERNATIONAL TRAINING
CONFERENCE
Date: xx xx xxxx

IMPORTANCE OF
PROFESSIONALIZING THE
ACCOUNTANCY
PROFESSION

IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Presentation to: XXXXXX Date: xx xx xxxx
AN OVER VIEW OF AFRICA:
54 countries (plus 2 disputed ones)

34 have PAFA members

24 IFAC members or associates (two not in PAFA)

Of 20 (or 22without PAFA members) 4 have an accountancy
body.
Africa an important investment destination with huge potential
(anchored on the public sector).
FOCUS
Strengthen existing accountancy bodies

Establish accountancy body where none exist
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
CHALLENGES FACING AFRICA GENERALLY
Historical challenges :- Linguistic (English, French, Portuguese, Spanish,
Arabic, Swahili? And others

Weak capacity in public and private sector: Human and institutional.
(PFM, PEFA, ROSC, IFAC Member Body Compliance and other
diagnostic tools)

Sub- optimal funding models not focusing on total picture

Short term quick fix for structural faults

Governance challenges

Uncoordinated donor support

Failure to address whole supply chain technicians and professional
levels (public and private)

IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Sub-heading
Presentation to: XXXXXX Date: xx xx xxxx

The Pan African Federation of Accountants
PAFA.

launched in May 2011
to accelerate the development of the
accountancy profession in Africa
strengthen the voice of the accountancy
profession within Africa and worldwide.
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Presentation to: XXXXXX Date: xx xx xxxx
PAFA believes:
good governance,
accountability,
good financial management
transparency
principal pillars in the acceleration of economic growth
and reduction of poverty
Professionalization of accountancy profession in public
and private sector key.
Paramount in African context in view of role played by
government
7
DEVELOPMENT OF A STRONG,
SUSTAINABLE ACCOUNTANCY
PROFESSION IN AFRICA
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LEVERAGE PARTNERSHIPS,
COMMUNICATION AND
TECHNOLOGY TOOLS TO
PRIORITISE SERVICE EXCELLENCE
TO ITS MEMBERS THROUGH A
WELL-RESOURCED SECRETARIAT
IMPLEMENTATION
[COLLABORATIVE]
THE STRATEGIC THEMES
FACILITATE
ADOPTION AND
IMPLEMENTATION OF
INTERNATIONAL
STANDARDS AND
BEST PRACTICE
RAISE THE
PRESENCE AND
PROFILE OF THE
ACCOUNTANCY
PROFESSION IN
AFRICA [ADVOCACY
AND COMMS]
8
Good stories

Zambia
Kenya
South Africa
Lesotho
Rwanda
Tanzania
Uganda
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
9
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Good story: The Zambian Experience
Cooperation among stakeholders:

Government, Donors and Zambia Institute of Chartered
Accountants - ZICA
Zambia Centre for Accountancy Studies ZCAS
Government and its institutions, private audit firms
Local ownership and leadership
Cooperation was long term (No quick fix)



10
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
PAFA priorities

Partner with stakeholders to establish dialogue with
countries without accountancy body.
Commence process of establishing accountancy body.
Create partnerships between the strong and the weak
Source funds to enable strong to capacitate weak
Application capacity building at local institute level
(standards and best practice)
Promote regional cooperation to achieve economies of
scale
11
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION

Partnering for results:
Learning from the past,
building the future
12
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Current initiatives
Members subscriptions and other resources (not adequate)
Partnering with AFROSAI and INTOSAI
MOU with African Union
Partnering with the African Development Bank, World
Bank.
Seeking to deepen partnerships;
European Union
International Monetary Fund IMF
USAID/DFID
PEFA
Other like minded development partners.
13
THANK YOU

Vickson Ncube
Chief Executive Officer
PAN AFRICAN FEDERATION
OF ACCOUNTANTS PAFA

Email:vicksonn@pafa.org.za
Telephone +27 (011) 479 0602/4
Website: www.pafa.org