East African Congress of Accountants (EACOA) Concludes in Kigali with a Vision for Transformative Accounting Practices

Elias Hakizimana Apr 20, 2024Apr 20, 2024 0 Comments

By Xaverine Cyiza&Elias Hakizimana.

The 4th edition of the East African Congress of Accountants (EACOA) drew to a close in Kigali, on April 19, 2024, marking a pivotal moment in accounting excellence and cross-border collaboration.

Held from April 16th to 19th, 2024, under the theme “Beyond Borders: Exploring Global Perspectives,” the congress underscored the imperative for accountants to transcend geographical limitations and adopt a holistic approach to accounting practices.

During the opening ceremony, Richard Tusabe, Minister of State in charge of the national treasury, highlighted the critical role of professional accountancy organizations in collaborating with governments on complex reforms such as digital transformation, blockchain technology, and AI.

Richard Tusabe, Minister of State in charge of the national treasury, highlighted the crucial role of professional accountancy organizations in supporting government reforms and technological advancements during his address at the event.

The objectives of the congress were multifaceted, encompassing various aspects critical to the advancement of accounting practices in East Africa. Firstly, the congress aimed to cultivate collaboration and networking among East African accountants, recognizing the pivotal role such partnerships play in driving regional economic growth and development.

The congress also focused on building a cohesive community of professionals dedicated to advancing financial practices and contributing to the region’s prosperity.

Secondly, the congress sought to extract key insights from its sessions to bolster financial management and accountability across the region. By deliberating on emerging trends, best practices, and innovative strategies, the congress aimed to equip participants with actionable knowledge that could be applied to enhance financial processes and governance practices.

Participants in the congress committed to fostering continuous learning and knowledge sharing among accounting professionals, ultimately leading to improved financial outcomes and strengthened accountability mechanisms.

Delegates from across the globe seized the opportunity at EACOA to engage in rigorous discourse and collaborative dialogues on topics profoundly shaping the Accountancy Profession’s landscape.

The congress’s final day saw discussions on the future of Public Financial Management (PFM) globally, IPSAS implementation in East Africa, navigating the AML Mutual Evaluation Process, and leveraging Sustainability Reporting and Green Financing for sustainable development in East Africa.

In his closing remarks, Amin Miramago, CEO of ICPAR, expressed gratitude to speakers, guests, and delegates for their commitment to excellence and collaboration. He urged participants to carry forward the spirit of learning to their respective nations.

**Amin Miramago, CEO of ICPAR, expressed appreciation for the dedication of participants and highlighted the congress’s role in advancing the accounting profession in East Africa.**

One of the focal points of discussions at the congress was Digital Transformation. Delegates delved into innovative strategies to propel the region forward in the digital age.

Industry experts including Allan Mugabi from Access to Finance Rwanda (AFR), Philip Gasaatura from Katapault Africa, Jean Marie Kananura from Kigali International Financial Center, and Charles Eloi Cyusa from AFR’s Digital Financial Services and Market Infrastructure unit, explored the nuances of digital transformation within the accountancy industry.

Gloria Zvaravanhu, MD of Old Mutual Insurance- Zimbabwe, emphasized the importance of building resilience and agility in leadership practices amid rapid technological advancements.

Gloria Zvaravanhu, Managing Director of Old Mutual Insurance in Zimbabwe, stressed the crucial need to cultivate resilience and adaptability in leadership approaches amidst the swift pace of technological progress.

During her address at the event, Keto Kayemba, President of the Pan African Federation of Accountants (PAFA), delivered impactful remarks on the significance of the accounting profession in driving Africa’s economic growth.

“Accounting professionals in Africa carry a vital public interest duty, aligned with the objectives of the International Federation of Accountants (IFAC) and, importantly, a transformative opportunity to lead change,” noted Kayemba.

“Accountants are central to integrity and public accountability. Anybody associated with integrity must relate to accountability,” said Obadiah R. Boraro, ICPAR’s President.

**Obadiah R. Boraro, ICPAR’s President, emphasized the critical role of accountants in driving economic development during his keynote address.**

The event showcased a vision for the Future of Finance, reflecting the evolving landscape of financial services driven by technological advancements, regulatory changes, and shifting consumer behaviors.

Various partners pledged commitments to supporting businesses in navigating the complexities of the global economy, emphasizing the congress’s lasting impact on fostering transformative accounting practices in East Africa.