A new agreement has been signed between ACCA (the Association of Chartered Certified Accountants) and the Ministry of Industry and Commerce in Lao to further develop and sustain the accountancy profession in the country.
The multi-donor funded World Bank project aims to build on the existing relationship between ACCA, Lao Ministry of Finance (MoF) and the Lao Chamber of Professional Accountants and Auditors (LCPAA) to strengthen the accounting profession in Laos.
Working together, ACCA, MoF and LCPAA will evaluate the current ethical and professional knowledge and skills of existing professional accountants.
They will also work to design a special continuing professional development (CPD) training programme for existing professional accountants to be prepared for entering the professional level of ACCA qualification.
This initiative will include a special focus on training the trainers who teach the professional level of ACCA qualification, so learning providers can deliver training for CPA students and other existing Lao’s professional accountants to become ASEAN Chartered Professional Accountants.
Soo Yee, Director Asia Pacific from ACCA says: ‘This is an important capacity building project and ACCA is delighted to be working with the Ministry of Industry and Commerce, Ministry of Finance and the LCPAA to develop the profession together. Training the trainers is an important part of this agreement as tutors clearly play a vital role in this development. By all working together we are investing in the profession. ACCA and LCPAA have a longstanding partnership and this is an important next step in this collaboration to support our mutual stakeholders and the profession in Laos.’
Phirany PHISSAMAY, President of LCPAA adds: ‘This project is to build capacity of Lao accountants that allow Lao CPA to upgrade themselves to an internationally recognised level. As ACCA is well-known for its qualification, with their assistance we believe that the existing Lao professional accountants could obtain appropriate professional knowledge and skills to serve the public interest and become good trainers for sustainable development of Lao accounting profession.’
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ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
ACCA supports its 200,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,200 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.
ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com