newsletter may 2020 edition - pafa · the pafa secretariat would like to thank the outgoing...
TRANSCRIPT
NEWSLETTER MAY 2020EDITION
OUR KICK-OFF MAY ISSUE HIGHLIGHTS
THE FOLLOWING:
* A MESSAGE FROM PAFA CEO MR VICKSON NCUBE
* PROGRESS OF ANTANANARIVO CALL
* PUBLIC STANDARD AND UNIVERSITY ACCREDITATION IN THE UEMOA REGION
*MEMBERS UPDATE
*EVENTS CALENDAR
*KNOWLEDGE AND INSIGHTS
A MESSAGE FROM THE CEO OF THE PAN AFRICAN FEDERATION OF ACCOUNTANTS (PAFA) MR VICKSON NCUBE
In his book Change by Design, Tim Brown has said: “We are at a critical point where rapid change is forcing us to look not just to new ways of solving problems, but to new problems to solve”. I find this a great attitude to adopt in this turbulent time that we live in. The times of Coronavirus and its Covid19 consequence. The chorus all around us is a state of despair, a catalogue of how the post Corona world will be a huge economic recession as has not been experienced in our living memories and how we must brace ourselves for the devastation.
It is time for the accountancy profession to join the rest of humanity to ‘look for new ways of solving problems’ as well as ‘look for new problems to solve’. This will entail moving our focus from problem definition to looking for solutions. Joining the chorus of spreading despondence as such a time is no mark of leadership. A crisis like this demands a different mind-set. A mind-set that understands that there is a solution within ourselves, one that digs deep among ourselves to find that solution. I always have faith in the human spirit, the spirit of human resilience.
The PAFA Secretariat will in the next few weeks be hosting online forums for leaders of its member PAOs to brainstorm on solutions for the present and the future of our continent. It is time to rise and solve the problem and not mourn and predict the gloom and doom that faces us. As a popular Zulu proverb goes ‘Crying never saved a goat from being eaten’
TRACKING PROGRESS OF ANTANANARIVO CALL (AC) WITH PAOs IN FRANCOPHONE AFRICA
At the conference held in Antananarivo, Madagascar on the 26 October 2016, a call to action that came to be known as the Antananarivo Call (AC) was made whose objective was an all-inclusive membership for accountants in Francophone Africa that will include accountants who are not working within the auditing profession.
In order to track the progress of AC, PAFA Secretariat is conducting webinars with individual PAOs to track the progress. Thus far, the primary outcome of webinar conducted with PAOs in ONEC - D R Congo; ONECCA – Cameroon; OECCA – Benin; ONECCA - Burkina Faso; ONPCT – Chad; ONECCA – Niger; OEC – Morocco; OECACI – Cote d’Ivoire and ONECCA –Togo reveal the following:
• Certain PAOs have indeed implemented the Antananarivo Call by incorporating all professional accountants. However, housekeeping regulations need to be strengthened.
• Other PAOs are in the process of reviewing their legal framework (national and regional framework). On one hand, there are PAOs who have incorporated all professionals’ accountants and on the other hand, there are PAOs who are in awareness stage of Antananarivo Call.
• PAOs are engaging different groupings of accountants with the aim of bringing them to membership.
• PAOs who were formed after the Antananarivo Call (2016) whose membership include only those practicing in auditing firms are welcoming the Antananarivo Call and willing to review their legal framework.
It is anticipated that the above findings will be apparent through the engagement of the rest of PAOs.
PUBLIC SECTOR STANDARD FOR UEMOA REGION
The West African Monetary and Economic Union (also known under the French acronym, UEMOA) comprised of Member States: Benin, Burkina Faso, Côte d’Ivoire, Guinée Bissau, Mali, Niger, Senegal and Togo. These countries share also common public sector accounting directive.
For more than ten (10) years, these countries have been working toward migration from cash accounting to accrual accounting. Lately, a decision was taken to actualise the UEMOA public sector accounting directive. The actualised directive which is based on the principles of accrual accounting is in line with SYSCHOADA and IPSAS. The next step is the validation of the new directive by Council of Ministers of UEMOA.
ACCREDITATION OF UNIVERSITIES IN UEMOA REGION TO OFFER ACCOUNTANCIES PROGRAMSThe qualification of accountants in the member countries of UEMOA region is administered from a central institution call
“Commission Régionale de Formation à l’Expertise Comptable et Financier (CREFECF)”.
CREFECF offers two (2) qualifications namely: “Diplôme d’etude superieur comptable et de gestion financière
(DESCOGEF)” which is equivalent to a Master degree and a professional qualification called “Diplôme d’expertise
comptable et financier (DECOFI)”. It is the DECOFI and the French qualification that gives admission to PAO membership in
these countries.
For more than 20 years, CREFECF has been offering training only in two centres: Dakar, Senegal and Yamoussoukro, Ivory
Coast. This has resulted in low intake of students and low outcome of graduates from the programs due to high cost
sustained by students.
To remedy the situation, CREFECF will now offer training in different member countries of UEMOA with the exception of
Guinée Bissau whose official language is Portuguese. For expediency, CREFECF training will be offered in two (2)
accredited institutions of higher learning per country.
MEMBERS UPDATE
New composition of the National Council of CCT Tunisia
The PAFA Secretariat would like to announce the election of the following office bearers at “Companie des Comptables de Tunisie (CCT)” for the period: 2020-2021. It was during the Annual General Assembly of 7 March 2020 that Mr Mohammed Anis AISSA and Mr Hafedh BOURHRIS were elected respectively President and 1st Vice-President.
Please join PAFA in welcoming the new office bearers and also recognising the outgoing office bearers for their contribution in CCT and the accountancy profession in Africa.
CCT can be contacted on this email: [email protected]
New leadership at the “Ordre des ProfessionelsComptables du Burundi (OPC)”
On the 8 May 2020, the “Ordre des Professionels Comptables
du Burundi (OPC)” Burundi held an Annual General Assembly. Election of office bearers was on the agenda. As a result, Mr CHUNGU Frederic was elected as President.
The PAFA Secretariat would like to thank the outgoing leadership for their contribution in OPC and PAFA activities. In the same vein PAFA congratulate the new leadership and look forward to working with them toward strengthening the accountancy profession in Africa and beyond.
OPC can be contacted on this email: [email protected] .
EVENTS CALENDAR
ACOA2021 SAVE THE DATE
THE AFRICA CONGRESS OF ACCOUNTANTS (ACOA2021) WILL BE HELD IN MAPUTO,
MOZAMBIQUE, 16TH-18TH JUNE 2021 WITH THEME “EMBRACING THE 4TH INDUSTRIAL
REVOLUTION”
REGISTRATION COMING SOON ON ACOA2021.COM
KNOWLEDGE AND INSIGHT
‘ROADMAP TO THE FUTURE’
IFAC has launched a Practice Transformation Action Plan – A Roadmap to the Future which is focused on how SMPs can embrace change, leverage technology, manage talent and have a renewed emphasis on providing relevant and value-added services. The Roadmap highlights key areas and initiatives for SMPs as trusted advisers to small- and medium-sized entities (SMEs)In the current environment it is essential for small firms to:
*Prioritize the health and safety of employees, facilitate virtual operations and support staff’s flexible working. *Ensure there is regular communication with clients to identify their needs and demands.*Maximize their close client relationships and in-depth knowledge to provide relevant services, demonstrating the ability to diversify service offerings.*Utilize technology to provide insights and enable clients to understand their financial circumstances and take informed and appropriate actions and decisions.
Click here to read more
ONLINE CPD SERVICES FOR PAO’s
IFAC has the Online CPD Services for PAOs resource page which is also regularly updated with PAOs that are generously offering CPD resources for PAOs that may not be able to offer in-person CPD at this time.
Several IFAC member organizations are ready to assist you with online CPD for your members via the listing below. We encourage you to review their offerings and contact them directly if you are interested.
If you are an IFAC member organization and interested in providing other professional accountancy organizations access to your online CPD (paid or no charge)
Click here to read more
IFAC GLOBAL REGULATORY REPORTThis report was compiled by public policy and regulation staff at the International Federation of Accountants(IFAC), summarizing select globally significant public policy and regulatory developments impacting the accounting and auditing profession.
Click here to access the IFAC global regulatory report and click here to access the IFAC gateway resource page
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