VICKSON NCUBE
CHIEF EXECUTIVE OFFICER, PAFA
ICGFM 28th ANNUAL
INTERNATIONAL TRAINING
CONFERENCE
Date: xx xx xxxx
IMPORTANC...
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Presentation to: XXXXXX Date: xx xx xxxx
AN OVER VIEW OF AFRICA...
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
CHALLENGES FACING AFRICA GENERALLY
• Historical challenges :- L...
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Sub-heading
Presentation to: XXXXXX Date: xx xx xxxx
The Pan Af...
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Presentation to: XXXXXX Date: xx xx xxxx
PAFA believes:
• good ...
7
DEVELOPMENT OF A STRONG,
SUSTAINABLE ACCOUNTANCY
PROFESSION IN AFRICA
FACILITATE
ADOPTIONAND
IMPLEMENTATION
OFINTERNATIO...
8
Good stories
• Zambia
• Kenya
• South Africa
• Lesotho
• Rwanda
• Tanzania
• Uganda
IMPORTANCE OF PROFESSIONALIZING THE
...
9
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Good story: The Zambian Experience
• Cooperation among stakeh...
10
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
PAFA priorities
• Partner with stakeholders to establish dia...
11
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Partnering for results:
Learning from the past,
building the...
12
IMPORTANCE OF PROFESSIONALIZING THE
ACCOUNTANCY PROFESSION
Current initiatives
• Members subscriptions and other resour...
13
THANK YOU
Vickson Ncube
Chief Executive Officer
PAN AFRICAN FEDERATION
OF ACCOUNTANTS – PAFA
Email:vicksonn@pafa.org.za...
Day2 sp2-1 presentation-icgfm_may2014_vicksonncube_en
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Day2 sp2-1 presentation-icgfm_may2014_vicksonncube_en

  1. 1. VICKSON NCUBE CHIEF EXECUTIVE OFFICER, PAFA ICGFM 28th ANNUAL INTERNATIONAL TRAINING CONFERENCE Date: xx xx xxxx IMPORTANCE OF PROFESSIONALIZING THE ACCOUNTANCY PROFESSION
  2. 2. 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
  3. 3. 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)
  4. 4. 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.
  5. 5. 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
  6. 6. 7 DEVELOPMENT OF A STRONG, SUSTAINABLE ACCOUNTANCY PROFESSION IN AFRICA FACILITATE ADOPTIONAND IMPLEMENTATION OFINTERNATIONAL STANDARDSAND BESTPRACTICE RAISETHE PRESENCEAND PROFILEOFTHE ACCOUNTANCY PROFESSIONIN AFRICA[ADVOCACY ANDCOMMS] 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]
  7. 7. 8 Good stories • Zambia • Kenya • South Africa • Lesotho • Rwanda • Tanzania • Uganda IMPORTANCE OF PROFESSIONALIZING THE ACCOUNTANCY PROFESSION
  8. 8. 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)
  9. 9. 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
  10. 10. 11 IMPORTANCE OF PROFESSIONALIZING THE ACCOUNTANCY PROFESSION Partnering for results: Learning from the past, building the future
  11. 11. 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.
  12. 12. 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

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