A reimagining of the accountancy profession is underway

ACCA’s Virtual Africa Members’ Conference highlights the ethical dimensions of a profession that needs to deliver and sustain trust

A recent three-day virtual conference hosted by ACCA (the Association of Chartered Certified Accountants) about the future of the accountancy profession in Africa highlighted the vital role accountants play in building and sustaining economies.

Themed ‘Repositioning the profession in Africa to drive and support economic recovery, sustainability, and social governance’ in his welcome address to the event, Joseph Owolabi, ACCA’s deputy president spoke about how technology is liberating accountants to carry out broader and more strategic roles to meet advancing needs of stakeholders in achieving a sustainable future.

Joseph also mentioned the need to support future talent, adding: ‘Our profession must advance with the times, keeping pace with the demands of modern business and the needs of employers, to give the world the accountancy profession it needs. That means nurturing new generations of accountants equipped with the skills, the knowledge, the expertise, the character, and the ethical integrity to play a leading role in the sustainable business which the planet needs.’

VIP speakers at this conference also spoke of a bright future ahead of the accountancy profession.

In his keynote address, Tavonga Muchuchuti, Managing Director of software development agency Xaviera Africa challenged professional accountants to play a more significant role in influencing digitisation beyond the use of technology for automation of accounting functions.

Dr. Obiageli Oby Ezekwesili, President of Human Capital Africa and Senior Economic Adviser at the Africa Economic Development Policy Initiative (AEDPI) and former Vice President of the World Bank, Africa Region inspired the audience by highlighting the profession’s important role in supporting enterprise development and growth across Africa by ensuring trust and transparency.

Closing the event, Jamil Ampomah, Director of ACCA Africa spoke of the profession’s role at the centre of policy development and economic planning, with many members keen to help policymakers and governments develop financial, economic, skills, and learning policies for the benefit of the public interest.

Jamil said: ‘Our event closed with a reminder for delegates across the whole African continent and beyond about the timeliness of this year’s event following so closely from COP26 and ACCA’s commitments to the UN Sustainable Development Goals (UN SDGs). This  event captured the central need for change, of a change the profession is driving now and will continue to do so in the future.’

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About ACCA: ACCA (the Association of Chartered Certified Accountants) is the global professional body for professional accountants.

We’re a thriving global community of 233,000 members and 536,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. We uphold the highest professional and ethical values.

We offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance, and management. Our qualifications and learning opportunities develop strategic business leaders, forward-thinking professionals with the financial, business, and digital expertise essential for the creation of sustainable organisations and flourishing societies.

Since 1904, being a force for the public good has been embedded in our purpose. In December 2020, we made commitments to the UN Sustainable Development Goals which we are measuring and will report on in our annual integrated report.

We believe that accountancy is a cornerstone profession of society and is vital in helping economies, organisations, and individuals to grow and prosper. It does this by creating robust trusted financial and business management, combating corruption, ensuring organisations are managed ethically, driving sustainability, and providing rewarding career opportunities.

And through our cutting-edge research, we lead the profession by answering today’s questions and preparing for the future. We’re a not-for-profit organisation. Find out more at accaglobal.com

"Our event closed with a reminder for delegates across the whole African continent and beyond about the timeliness of this year’s event following so closely from COP26 and ACCA’s commitments to the UN Sustainable Development Goals (UN SDGs). This event captured the central need for change, of a change the profession is driving now and will continue to do so in the future"

Jamil Ampomah, director - ACCA Africa