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API and ANAN Sign MOU During PAFA Annual General Meeting

On June 27, 2024, a significant milestone was achieved as the African Professionalisation Initiative (API) and the Association of National Accountants of Nigeria (ANAN) signed a groundbreaking Memorandum of Understanding (MOU). This transformative agreement, aimed at elevating the professional standards of public sector accountants and auditors in Nigeria, was celebrated during the prestigious Pan African Federation of Accountants (PAFA) Annual General Meeting in Mauritius.The API’s vision is to realise an African public sector capacitated with competent, ethical, and influential professionals who support accountability, transparency, and good financial governance. The MOU signing was a significant milestone, attended by esteemed figures including the ANAN CEO, Dr. Kayode Fasua, and the ANAN President, Dr. James Neminebor, among other notable personalities.The ceremony was also witnessed by delegates from PAFA, highlighting the broad support and collaborative spirit within the African accountancy community. This MOU between API and ANAN marks a significant step towards enhancing the professionalism of public sector accountants and auditors in Nigeria, contributing to the broader goal of sustainable economic growth and development in Africa.

Key Topics Discussed at PAFA AGM

The PAFA Annual General Meeting featured enriching and insightful continuing professional development sessions that covered a range of topics, including those listed below. PAFA President Keto Kayemba and CEO Alta Prinsloo urged delegates to commit to actionable steps, emphasizing the transformative objectives of PAFA, which are grounded in the principles of serving the public interest.

 

  • Sustainability Reporting and Assurance: One of the primary discussions focused on capacity building and advocacy mechanisms for sustainability reporting. This includes commitments to building capacity on IFRS Sustainability Standards and developing strategies for sustainability reporting through PAFA’s Centre of Excellence.
  • Growing the Accountancy Profession in Africa: Deliberations emphasized the actions necessary to advance effective and efficient reporting by SMEs and less complex entities. This included demystifying international standards for these entities and discussing the adoption and implementation of IFRS for SMEs and ISA for LCEs in Africa.
  • Advancing Women in Accountancy: Another crucial topic was the proposal to establish a forum to advance women in accountancy across Africa, identifying strategic actions at both continental and national levels to operationalize this initiative.
  • Developing an Effective PAO Strategy: The PAFA & IFAC Workshop focused on strategic planning for Professional Accountancy Organisations (PAOs), aiming to equip them with robust strategies that align with IFAC’s strategic planning techniques. This is crucial for fostering trust, accountability, and engagement within the profession.

For more information about the API’s initiatives and the detailed agenda of the PAFA AGM, you can refer to the official documents and the PAFA website.

We look forward to the positive outcomes this partnership will bring and the continued collaboration among all stakeholders to realize our shared vision for Africa.

About The API

The African Professionalisation Initiative is an independent non-profit organisation whose primary objective is to strengthen the capacity and knowledge base of accounting and auditing professionals in the African public sector to enhance accounting and auditing service delivery to the citizens of Africa.

 

Our Vision: An African public sector sustainably capacitated with competent, ethical and influential professionals who support accountability, transparency and good financial governance. Our Mission: Grow the capacity of public sector finance management professionals in the African public sector through high quality, relevant and future fit learning programmes.

The API Partner Organisations

The African Professionalisation Initiative is a partnership between the accountancy profession (represented by the Pan African Federation of Accountants (“PAFA”)), accountants general or their equivalent (African Association of Accountants General – “AAAG”)), and supreme audit institutions or courts of auditors (represented by the English (“AFROSAI-E”) and French (“CREFIAF”) language sub-groups of the African Organisation of Supreme Audit Institutions (“AFROSAI”)).

API is not a PAO

The African Professionalisation Initiative (API) operates not as a Professional Accountancy Organisation (PAO), but as a facilitator and catalyst for the professionalisation of public sector accountants and auditors. This critical role accelerates accountability and transparency within the public sector. Consequently, it increases the number of professional accountants eligible for membership in national PAOs, thereby enhancing their effectiveness. This growth strengthens the accountancy profession at the national level through the Pan African Federation of Accountants (PAFA) on the continental level, and with the International Federation of Accountants (IFAC) on the international level.

The API Houses / Learning Programmes

Embark on a flexible learning journey where you can study offline and seamlessly update your progress once you reconnect to the internet. This comprehensive programme, designed to fit your schedule, typically takes 12 to 18 months to complete. Dive into a transformative educational experience that empowers you to achieve your professional goals at your own pace, anywhere and anytime.

Please choose below the house that works for you and drop us a mail – info@professionalisation.africa

Houses (Learning Programmes)

Careers / Jobs for API Graduates

House 1 – Incumbents (Experienced un-professionalised accountants and auditors)-Implemented ✔ Government Accountant
✔ Budget Analyst
✔ Financial controller
✔ Government Auditor
✔ Tax examiner
✔ Public Financial Management Consultant
✔ Non-profit Accountant
✔ Financial Analyst
✔ Grants and Contracts Manager
✔ Compliance Officer
✔ Public Sector Financial Reporting Specialist✔ Sector specific accountants, auditors, advisors e.t.c.
House 2 – Specialisation – Ready for occupation from 2024
House 3 – Students – Ready for occupation in 2025
House 4 – Micro credentials – Unique Areas of need by governments: E.g. The Public Sector Ethics Certification that is available for all government accountants, auditors and other officers etc.
House 5 – Continuing Professional Development (CPD) – Book an event here
House 6 – Sector specific learning programmes or certifications or Micro credentials e.g. Learning Programme on performance audits for health sector commodities.

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