Accountants urged to be innovative and not fixated on ‘best practices’
Accountants in Africa have been advised to move from imitating ‘best practices’ to set their own standards.
Speaking at an Association of Chartered Certified Accountants (ACCA) Virtual Africa Members Convention themed Repositioning the Profession in Africa; to drive and support economic recovery, sustainability, and social governance, the Head of Internal Audit, FCCA, Chembe Chakalashi noted that this is the only way accountants in the continent can become relevant.
“After all is said and done, what should be done? It boils down to rebranding. How does the profession make a difference? How do we come up with specific models? Most of the models available are replicated. We need to come up with ideas of our own, tailor-made for Africa.”
“We need to respond to challenges in the continent in our own way. Let’s develop Africa- specific solutions. Let’s move from best practices to new ways of doing things. I believe that we will become relevant this way.”
The Chief Executive for the Institute for Sustainability, Rodney Ndamba is of the view that there is tremendous hope for the profession in Africa.
“The world is going through changes. The pandemic has reminded us of what we have always known but ignored. Albert Einstein once said he never thought of the future, but it is here now. Let’s do all we can to seize the opportunity during and post the pandemic.”
He advocated for a more adaptive and impact-driven accounting in the continent.
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“Sustainability is the biggest economic opportunity of our time. Let’s stop talking and get things done. It is time for adaptive and impact-driven accounting in Africa.”
“We need a paradigm shift from the usual. Accountants can save the world and we need to take responsibility”
About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global professional body for professional accountants.
It is 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.
It offers everyone everywhere the opportunity to experience a rewarding career in accountancy, finance, and management. Its 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 its purpose. It believes 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 its cutting-edge research, it leads the profession by answering today’s questions and preparing for the future. They’re a not-for-profit organisation. Find out more at accaglobal.com.
