The Institute of Certified Public Accountants (CPA Ireland) has signed a memorandum of understanding (MoU) with the Mozambican professional body, Ordem dos Contabilistas e Auditores de Moçambique (OCAM).
The MoU follows a three years capacity building project between CPA Ireland and OCAM, funded by the World Bank.
Last April, CPA Ireland director of member services David FitzGerald told The Accountant: "Mozambique had no accounting institutes and the project funded by the World Bank aimed at setting up the institute and its governance structure."
"We are now nearing the end of the project which has taken around three years to complete," he continued. "OCAM has appointed a president in the last 12 months so the structure is taking shape and I anticipate that the project will end in June 2014."
The MoU set the framework of cooperation between the two institutes in the areas of education, training, examination, accounting, auditing, ethics and member body development.
OCAM general secretary Alfredo Come told The Accountant that the institute currently has 2,600 members.