The Association of Chartered Certified Accounts is to partner with the World Bank and the African Development Bank to help develop the accounting profession in Ethiopia.
The association is bidding on projects being launched by the banks to develop the profession said Helen Brand, Chief Executive of the ACCA. ACCA has worked with the WB and with the AfDB and the Asian Development Bank in the past.
The association has researched the projects and understands the cultural aspect of working globally said Brand.
One program with the World Bank facilitates cooperation with regional accounting professionals to monitor the quality of accounting firms in sub-Saharan Africa where ACCA is under contract to represent national professions, she explained.ACCA works to transfer technical skills to local professionals so they can takeover the work themselves added Brand.
ACCA is also lobbying for the launch of a capital market in Ethiopia said Martin Turner Vice President of the ACCA.
The ACCA will consult with Ethiopian policy makers and regulators to support the establishment of a capital market in Ethiopia he said.
Ethiopia will need access to capital if the country is to grow its presence on the international stage according to Turner. The country could gain access to capital in many ways but a capital market is a very important element he noted.
The absence of accountants and ACCA students in the country is a part of the problem and more needs to be done to allow Ethiopia to catch up with other countries said Turner.
Source: Capital
