Regional Congress of Accountants Set to Transform Accounting Profession in Rwanda and East Africa

By Elias HAKIZIMANA.

The East African Congress of Accountants (EACOA) is gearing up for its highly anticipated 4th edition, scheduled to take place from April 16th to 19th, 2024, in Kigali, Rwanda.

This prestigious event, hosted by The Institute of Certified Public Accountants of Rwanda (ICPAR), is expected to draw nearly 800 regional participants, including physical attendees and virtual delegates.

With an additional 300 virtual participants joining remotely, this year’s congress will adopt a hybrid format to ensure inclusivity and broader engagement among professionals from various sectors, including business, public administration, NGOs, and international organizations.

The overarching theme of the congress, “Beyond Borders: Exploring Global Perspectives,” underscores the imperative for accountants to transcend geographical limitations and embrace a holistic view of accounting practices.

By encouraging participants to delve into global insights and innovative approaches, the theme reflects a forward-thinking mindset aimed at driving excellence and innovation within the accounting profession.

The significance of this year’s congress was emphasized during a recent press conference held on April 11, 2024, where key figures from ICPAR shared valuable insights into the event’s objectives and expected outcomes.

Empowering Regional Integration and Peer Learning

ICPAR’s CEO, Amin Miramago, highlighted the congress’s role as a catalyst for regional integration and peer learning.

“This edition of EACOA marks a pivotal moment as around 800+ participants are expected to engage both physically and virtually. It presents an opportunity for regional integration, learning about trending issues, accounting reforms, leadership, governance, and contributing to broader economic goals.” Mirango said.

Showcasing Rwanda’s Accounting Achievements

ICPAR’s President, Obadiah R. Biraro, underscored the significance of the congress in showcasing Rwanda’s achievements in the accounting domain.

“Rwanda has excelled in accountability and transparency, which are our core values. This congress is a platform to demonstrate our contributions to the economy and to share insights with global peers.” He emphasized.

Exploring Diverse Perspectives and Opportunities

ICPAR Vice President, John Kaijuka Bugunya, expressed enthusiasm for the diverse perspectives and opportunities that the congress would offer.

“We are looking at opportunities that accounting can tap into, such as investment banking. We are examining the broad and diverse perspective of accounting and how we can harmonize this profession across the regional market. We need to address barriers and discuss accounting mobility across the region with other industry bodies. It will be an exciting event over these four days.” Bugunya noted.

Learning from Global Expertise and Industry Challenges

Reflecting on the congress’s role in fostering learning and collaboration, President Obadiah R. Biraro emphasized the importance of learning from global expertise and industry challenges.

“We expect to learn from other accounting industry players. Since 2008, ICPAR has existed, but we need to learn from those who have undertaken developmental work in the entire spectrum of education over the years. We have achieved a lot, and the reason why we need others to learn from us is that we still have a long journey ahead.” Biraro said.

Addressing Challenges and Fostering Professional Development

While acknowledging existing challenges within the local accounting landscape, CEO Amin Miramago emphasized the need for increased awareness and professional development.

“We face challenges not just locally but globally. Many entities, both public and private, lack sufficient accountants. Although we have 1200 members, this number falls short of the demand. There are currently 6000 students enrolled in accountancy courses in Rwanda, highlighting the growing interest in the profession.” He noted.

Impact on Economic Growth and Investor Confidence

The congress’s discussions on enhancing accounting professionalism and transparency are expected to have a ripple effect on economic growth and investor confidence. President Obadiah R. Biraro highlighted the role of accountants in capital mobilization and investor trust.

“We need to increase our immense contribution to capital mobilization. This congress is happening at a good pace. We must ensure that investors seeking to invest in Rwanda will have competent and well-skilled professional accountants.” Biraro said.

Collaboration with Stakeholders and Development Partners

ICPAR Vice President John Kaijuka Bugunya highlighted the collaborative efforts with stakeholders and development partners in bridging skills gaps and promoting professional training.

“All stakeholders, including the government and development partners, are helping us bridge the skills gaps and train more qualified members. We have reached a point where ICPAR is a full member of the International Federation of Accountants (IFA), showcasing our progress and commitment to professional excellence.” He pointed out.

Advancing the Accounting Profession in East Africa

The 4th edition of the East African Congress of Accountants promises to be a transformative event that will shape the future of the accounting profession in East Africa. With a focus on global perspectives, peer learning, and addressing industry challenges, the congress aims to foster collaboration, innovation, and excellence within the accounting community.

As participants converge in Kigali, Rwanda, they are poised to contribute meaningfully to economic growth, transparency, and investor confidence across the region.

       

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