East African Congress of Accountants to discuss involvement of accountants in regional development and cross boarder experience

The 3^rd African Congress of Accountants (EACOA) that will be hosted by The Institute of Certified Public Accountants of Uganda (ICPAU) will be held in Kampala, Uganda from 14^th -16^th April 2021 attracting the business leaders, policy makers, accountants among other participants from the east African community.

With the theme “Integration for accelerated economic development” the objective of the congress is to enhance the involvement of accountants in regional economic development discussions and promote cross boarder experiences.

Initially the congress was scheduled for last year at the Imperial Resort Beach Hotel, Entebbe but was postponed due to the COVID-19 pandemic to April 2021 using both physical and virtual arrangement.

During a press conference held on 8^th April 2021 at Hotel Africana, David Bunya Sserebe, The Chairman Events, ICPAU and Partner with Sserebe, Opolot, Rugumayo and Associates Certified Public Accountants, said that the EACOA event will bring together accountants to discuss and share experiences on the East Africa Integration which he said will go along way enhance integration efforts of improved mobility and minimise trade barriers in the East Africa community member states and beyond.

“Regional accountants’ fraternity following the 2011 agreement mutual agreement will continue to discuss east Africa cross border practice without any requirement. We have been looking on how to enhance cross border trade through mutual agreement” he said

He said though the pandemic posed challenges to accountants who work based on evidence, they have innovated ways to embrace technology to site information without compromising the quality of the professional.

Sserebe however cautioned accountants who go astray during their practice that they are punishment for members including removal from the members list, suspension.

The event was supported by ACCA with a cheque of $1000 dated 8^th April 2021 pictured above

The Chief Executive Officer of  ICPAU, CPA Derick Nkajja said that the East African Community Institutes of Accountants (EACIAs) agreed to hold the Congress in 2021 despite the encumbrances caused by the pandemic because of the bigger objective of the Congress.

The objective of the Congress is to enhance the involvement of accountants in regional economic development discussions and promote cross boarder experiences.

“The integration spirit is crucial. Even if the prevailing situation lasts for 5 years, the East African Community continues to exist. Therefore we must find ways to interact transact and promote the integration efforts,” he said

“Accountants support businesses across the region, therefore, conventions such as the EACOA provide an ideal platform for accountants to discuss and share strategies for the EAC integration, notably, the harmonisation of regulations that impede mobility and the ease of trade,” he added

Discussions during the EACOA will include cross border trade, public financial management, Africa’s Agenda 2063, the EAC geopolitics, the impact of technological advancements, and progress on the EACIAs’ Mutual Recognition Agreement, among others. There will also be a discussion on lifestyle diseases. 

It will attract speakers including Dr. Fred Muhumuza of Makerere University, Ms. Sandra John Chogo of the National Audit Office of Tanzania, CPA Edwin Makori (Chief Executive Officer of ICPAK), Mr. Vickson Ncube (Former Chief Executive Officer of the Pan African Federation of Accountants), and Mr. Ndebesa Mwambutsya of Makerere University.

ICPAU is the national professional accountancy organization, established in 1992 by an Act of Parliament, now the Accountants Act, 2013 whose main  functions include:, To regulate and maintain the standard of accountancy in Uganda and To prescribe and regulate the conduct of accountants and practicing accountants in Uganda.

EACOA is an initiative of the East African Community Institutes of Accountants (EACIAs), namely: Institute of Certified Public Accountants of Uganda (ICPAU), the Institute of Certified Public Accountants of Kenya (ICPAK), the Institute of Certified Public Accountants of Rwanda (ICPAR), the National Board of Accountants and Auditors of Tanzania (NBAA), and Ordre des Professionnels Comptables du Burundi (OPC)/the Order of Professional Accountants of Burundi.

In recognizing the value of regional integration as enshrined in the East African Community (EAC) Common Market Protocol, the regional accountancy Institutes formalized their relationship through a Mutual Recognition Agreement (MRA) which was signed in 2011. The EACIAs’ MRA provides a framework for developing, regulating and facilitating regional integration of the accountancy profession in the EAC.

The EACIAs organise the Congress every two years. The first EACOA was hosted by NBAA in 2016, while the second was hosted by ICPAK in 2018.

The guest of honor for EACOA 2021 is expected to be the Minister of Finance, Planning and economic development, Hon Matia Kasaija.

Registration for EACOA can be accessed online using this link:  www.eacoa2021.com