08 OCTOBER 2018
THE PAN AFRICAN FEEDERATION OF ACCOUNTANTS (PAFA) HOSTS ITS TECHNICAL EXCELLENCE & VALUE MANAGEMENT CONFERENCE FROM 08-11 OCTOBER IN NAIROBI KENYA
Nairobi Kenya, 08 October 2018, the Pan African Federation of Accountants (PAFA) rolls out its Technical Excellence & Value Management Conference in Nairobi, at the Hilton Hotel, from 08-11 October 2018. The conference is jointly hosted with the Institute of Certified Public Accountants Kenya (ICPAK) - PAFA’s member Professional Accountancy Organisation (PAO).
The event brings together representatives from the Stock exchange, Regulatory bodies, National and Regional Government, PAOs managers responsible for standards, Financial Reporting (IPSAS and IFRS) Audit and Assurance, Ethics and Education.PAFA’s aim is to facilitate the accountancy profession leading in influencing policies that enable the utilization of resources for the benefit of all Africa’s citizens to achieve socio–economic transformation. The four-day conference covers; Public Value Management (PVM), Technical Standard Setters Forum, Accountancy Education, and Integrated Thinking and Integrated Reporting.
Public Value Management:
PAFA CEO, Vickson Ncube notes; “PAFA continues to increase the awareness of members on their required contribution to strengthen Public Value Management systems, to achieve wealth creation, fiscal discipline and effective service delivery to citizens. The conference provides a platform to explore current public and private sector collaborative initiatives to enhance professionalism in the public sector, and efforts towards delivering on the AU’s Agenda 2063.”
CPA Edwin Makori, ICPAK Chief Executive spoke on the East Africa region’s integration efforts; “ICPAK is keen to promote to professional development in the region. The Institute has been promoting the implementation of the East Africa Community Institutes of Accountants-Mutual Recognition Agreement (EACIA MRA). This agreement seeks to establish common qualification and practice standards, as well as pull down inter-regional employment barriers to facilitate mobility and productivity of professional accountants towards achievement of shared goals for the prosperity of Africa’s economies.”
Technical Standard Setters:
PAFA Technical Director, Ms. Lebogang Senne indicated; “The conference is a holistic approach to public sector management that looks beyond just financial reporting. Ultimately, PAFA aims to improve governance across the sector by equipping members of the accountancy profession with the skills and resources to enhance the quality of reporting, audit output, and thereby create transparency and accountability.”
The education segment of the conference further addresses current issues affecting the education and training of professional accountants on the African continent and provides a forum for exchange among Professional Accountancy Organisations (PAOs). PAFA PAO Capacity Building Manager, Mr. Lefaria Kinimi, highlights the key outcomes of the education segment; “The session will drive continuous learning and adaption of education and training models to enable PAOs to respond to the rapidly evolving socio-economic demands of their respective countries.”
Africa Integrated Reporting Conference
The occasion will include the inaugural annual Africa Integrated Reporting Conference hosted by the Africa Integrated Reporting Council (AIRC), established by PAFA and World Bank. Patrick Kabuya, Senior Governance Specialist from the World Bank stated; “It is time for African countries to start implementing integrated thinking and reporting as it is the future of reporting and accountancy profession. Integrated Reporting enables an organisation to concisely communicate its ability to create value using all its capitals (financial, manufacturing, human, natural capital, social and relationships, intellectual capital) over the long term for benefit of all stakeholders. A shift from only reporting on financial capital which is currently considered to only comprise 20% of market value of organizations.” The conference will involve sharing the why and benefits of integrated thinking and reporting, and practical experiences of implementing reform with overall aim of encouraging countries to adopt the reform for the benefit of citizens.
The PAFA CEO Vickson Ncube concluded; “The conference will now become a permanent event in the PAFA calendar. A competent African (not just accountants) with an education anchored on an ideology will play a meaningful role in the advancement of the ideals of Agenda 2063, creating an Africa we want - an integrated prosperous and peaceful Africa, driven by its own citizens and representing a dynamic force in the international arena. Let us all work together in building a bridge to a brighter Africa.”
CHIEF EXECUTIVE OFFICER