- April 20, 2019
- Posted by: Merit
- Category: Economics and Investment, Finance & accounting, International, Technology and Digital Transformation
Merit Advisory Services LLP had the opportunity to attend and participate a three-day meeting from 14th to 16th October 2019 which was held at the African Union HQ in Addis Ababa, Ethiopia under the theme “strengthening public sector accounting in Africa”. The objective of the meeting was to stimulate dialogue and enhance leadership and collaboration between Member States, Professional and Accounting Bodies, with the view to urgently accelerate progress towards sound public sector financial management in the Continent. The meeting agenda included the following;
Day1: Formation of African Association of Accountants General (AAAG)
Day 2: Africa we want – a Strong Financial Management Systems
Day 3: IPSASB Strategy and work plan stakeholder consultation: ‘Round Table Discussions’
During this forum, the partners of MAS were able to contribute their ideas on improving the public financial management of African Countries and participate the group discussions whereby they made critical arguments based on the case study of the current PFM system of Somalia.
MAS Partners also had the opportunity to have sideline meetings with different officials from different renowned organizations in the Public Accounting Sector such as IFAC, PAFA, IPSAS Board and ESAAG. In these sideline meetings, the partners advocated for the vital need of an Accounting Body in Somalia and requested the help of these organizations with the process of building the Somalia Institute of Certified Public Accountants (SICPA) which already underway.
During this three-day forum, MAS partners had other sideline meetings with officials from Somalia such Audit General of Somalia Federal Government, Puntalnd Auditor General State, Puntland Accountant General and, other officials from his office and Puntland PFM Coordinator whereby discussions on how the magnificent ideas circulated during meeting can be implemented in Somalia were made. They all agreed that, the country (Somalia) needs a better Public Financial System where International Public Sector Accounting Standards are implemented, transparency and accountability is improved, corruption is reduced and powerful and effective oversight organizations such as Supreme Audit Institutions, Professional Accounting Body and Anticorruption Organizations are enforced.