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May 12, 2017

A strong profession in Africa means a strong global profession, IFAC president Rachel Grimes says

By Vincent Huck

Kampala (Uganda) / London (UK). While attending the Pan African Federation of Accountants (PAFA) annual general meeting in Uganda, IFAC president Rachel Grimes, addressed PAFA members and praised the role they play in international institutions as well as PAFA’s role as a champion of African solutions for Africa.

“PAFA member organisations representation in the IFAC board and committees and the independent standard setting boards continues to impress,” she said. “At present, Botswana, Kenya, Nigeria, Malawi, Morocco, Senegal, South Africa, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe are represented on these boards and committees.”

These individuals in combination with PAFA’s technical and standard setters’ forum provide the region with strong voice on the international stage, Grimes continued. “As chair of the nominating committee, I know how these positions are so tightly fought for. So this quality coming from Africa is first class, and I encourage you to keep encouraging your members to keep putting their heads up so you have a voice around the table.”

She highlighted the important role accountancy plays in the development of both in the private and public sector.

“A profession supported by an effective PAO is essential to strengthening organisations and advancing economies,” Grimes said. “Effective PAOs deliver quality professional accountants who contribute to quality governance, financial management, auditing and reporting in the private and public sectors giving rise to public sector growth and development, public sector transparency and accountability and effective use of development assistance and foreign direct investments.”

She expressed IFAC’s gratefulness for the opportunity to partner with PAFA on capcity building in the region as she said without PAFA’s support African solutions for Africa would not be possible. “PAFA plays a key role in assisting the IFAC team to tailor project under the UK DIFD funded PAO capacity building program to specific country needs. PAFA also plays an essential role in building a pipeline for future IFAC member organisations.”

Grimes concluded her address to the PAFA AGM saying: “My visit to Uganda has confirmed in my own mind that a strong profession in Africa means a strong global profession.”

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