The Pan African Federation of Accountants - PAFA - was launched in May 2011. Its main objective is to accelerate the development of the accountancy profession in Africa and strengthen the voice of the accountancy profession within Africa and worldwide. It is a non-profit organisation currently composed of 52 professional accountancy organisations from 42 countries. PAFA believes that good governance, accountability, good financial management and transparency are principal pillars in the acceleration of economic development and poverty reduction and alleviation. PAFA’s vision is to work in the public interest by leading and developing the accountancy profession in Africa and delivering value to its members.
PAFA's five strategy objectives include;
1. Building a strong and sustainable professional accountancy organisation in each African country that contributes to the national professional, economic and social development, and demonstrates compliance with IFAC Statements of Membership Obligations (SMOs).
2. Influencing and facilitating the adoption and, implementation of International Standards and best practice in each member in order to improve the quality of financial and corporate reporting.
3. Facilitating the accountancy profession to contribute in strengthening Public Value Management (PVM) systems in order to achieve fiscal discipline, effective resource allocation and effective service delivery to citizens thus creating value for money
4. Enhancing a common working approach and platforms that facilitate the sharing of knowledge, resources and experiences.
5. Engaging in generating cutting edge knowledge and solutions on future issues that will impact the economy, society and the profession.