Global Accountancy Profession Development Project Gallery

MIDDLE EAST AND NORTH AFRICACOUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSMIDDLE EASTThe World Bank, supportedTo support capacity building AND NORTHby UKAid, the governmentin both the public and privateand improved financial management practicesAFRICAof Denmark, the Swisssectors in the Arab worldin the private and public sectors, including:Confederation FederalRegional initiative that promotes governance–– annual exchange conferencesDepartment of Economic Affairs/–– International Standards on Auditing State Secretariat for EconomicAffairs, the government(ISAs ) forof Japan, and the CanadianSmall and Medium Practitioners (SMPs)International DevelopmentSolutions LabAgency–– A boot camp workshop with the LebaneseAssociation of Certified Public Accountantssupporting its development of a qualityassurance system–– Adoption and implementation of IFRS inYemen Boot Camp Workshop–– Presentations and research report:A Snapshot of Key Issues Facing SMPs andtheir SME Clients In the MENA Region–– Strengthening the Yemen Associationof Certified Public Accountants Boot CampWorkshop–– Two Ma’arefah Community of PracticeOnline Learning EventsJORDANJordanian Association ofTo enhance accountingCertified Public Accountantsand auditing skills, particularly(JACPA), Institute of Charteredin relation to SMEs Enhanced capacity and proficiency of JACPAin IFRS for SMEs and auditing of SMEsAccountants in England & Wales(ICAEW), and the World BankPALESTINIANBoard of Professional AuditTo strengthen the accountancyTERRITORYin the Palestinian Territory,profession by improvingPalestinian Association ofeducation, training, continuingCertified Public Accountantsprofessional development,(PACPA), and the World Bankand the licensing process, 2004 Audit Law regulations for licensingof new CPA candidates will be resumed PACPA will have the capacity to monitoraudit qualityand by establishing a qualityassurance systemUNITED ARABAccountants and AuditorsTo build AAA’s internal capacityEMIRATESAssociation (AAA) and theand implement a nationalAssociation of Charteredprofessional qualificationCertified Accountants National professional qualification based onrobust examinations and practical experience Support government’s promotionof qualifications of nationals Support government’s vision to be a leadingfinancial centerYEMENYemeni Association of CertifiedTo improve corporatePublic Accountants (YACPA) andfinancial reporting in Yementhe World Bankby strengthening YACPA’sinstitutional capacity andbuilding the capacity ofaccounting professionals6 Global Accountancy Profession Development Project Gallery A professional practice manual

AFRICACOUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSBURUNDIEast African CommunityTo harmonize professional Institutes of Accountantscertification and education,(EACIA), Institute of Certifiedinternational standards,Public Accountants of Kenya,and regulation of the professionInstitute of Certified Publicin the East Africa regionKENYARWANDATANZANIAUGANDAand skills exchange programs across the region Sharing of technical guidance and resourcesamong the EACIA Accountants of Rwanda,Continuing professional development, training,Increased collaboration on responsesInstitute of Certified Publicto exposure drafts and consultation papersAccountants of Uganda,from standard settersNational Board of Accountantsand Auditors, and the Ordredes Professionnels Comptablesdu BurundiGUINEAMAURITANIAMOROCCOOrdre National des ExpertsTo strengthen the accountancyComptables et ComptablesprofessionAgréés du Sénégal, professional Report on Observance of Standards and Codes accountancy organizationsRecommendations to mobilize the accountancyprofession and prepare the PAOs for IFACin Guinea, Mauritania, andmembershipMorocco, and the World BankMAURITIUSAn action plan based on the World Bank’s Association of CharteredTo develop the accountancyCertified Accountants andprofession, and build MIPA’sRevised legislation and a roadmap to developMIPA’s capacity to deliver certification,the Mauritius Institute ofcapacityeducation, and trainingProfessional Accountants (MIPA)MOZAMBIQUEInstitute of Certified PublicTo provide technical assistance,Accountants in Ireland, KOSItraining, and other services toCorporation (Ireland), OrderOCAMof Professional Accountantsand Auditors of Mozambique(OCAM), and the World Bank Technical assistance, including–– PAO strategic planning and governance–– education, examinations, and continuingprofessional development–– dissemination of implementation guidanceon international standards–– ethics and disciplinary proceduresGlobal Accountancy Profession Development Project Gallery 7

AFRICA (CONTINUED)COUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSNIGERIAAuditor General of Nigeria,To harmonize professional Financial Reporting Councilqualifications with internationalof an updated international-benchmarkedof Nigeria, ICAEW, Institutestandards; implement a code ofICAN professional qualificationof Chartered Accountants ofethics; and strengthen the auditNigeria (ICAN), and the Worldquality monitoring frameworkBankand audit regulations A shared commitment to the implementationModernized professional qualificationsin compliance with InternationalEducation Standards Improved audit quality and stronger auditregulationsFinancial Reporting Council ofTo build the capacity of the SEC,Nigeria, ICAEW, Nigeria StockNigeria, including in IFRS Improved supervision of listed companies bythe SEC, Nigeria, through increased capacity,Exchange, and the Securities andintensive training, an improved regulatoryExchange Commission, Nigeriaframework, and enhanced communication(SEC, Nigeria)between the SEC, Nigeria, and other regulatorsin NigeriaRWANDAInstitute of Certified PublicTo develop, launch, andAccountants in Ireland, Instituteimplement an internationally-of Certified Public Accountantsrecognized professionalof Rwanda (iCPAR), KOSIaccountancy qualificationCorporation (Ireland),accreditation system andand the World Bankexaminations in Rwanda Success of the initiative paved the way foriCPAR to become an IFAC Associate in 2012 Creation of a strong commitment to successacross all funding and implementation partners Training materials developed to meetthe needs of Rwanda’s public sector accountingand auditing requirements, which covered IPSASand INTOSAI developments as well as privatesector corporate financial reportingSOUTH AFRICAAssociation of AccountingTo establish a dedicatedTechnicians (AAT), Southprofessional body for accountingAfrican Institute of Charteredtechnicians in South Africa—AATAccountants, and various public(South Africa) training providers Training programs for accounting techniciansin the public sectorand private sector organizationsand aid agencies2,500 graduates since 2008; 25 accredited Access to lifelong learning and development Members bound by a code of ethics AAT (South Africa) recognized by the SouthAfrican Revenue Services as a Controlling Bodyfor Tax Practitioners8 Global Accountancy Profession Development Project Gallery

AFRICA (CONTINUED)COUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSSOUTH AFRICABusiness and commerce,To diversify and grow, via the including the banking industry;Thuthuka initiative, the numberof all new SAICA members from previouslythe South African government,of previously disadvantageddisadvantaged groupsincluding the Ministry of Financepeople in the accountancyand National Treasury, theprofession and make SAICA’sDepartment of Higher Educationmembership is representativeand Training, the Auditorof population demographicsGeneral, and South Africanin race and gender Thuthuka initiative generates 30%The program currently has more than2,000 students on bursaries The program is recognized by the South Africangovernment as the best program to deliverRevenue Services; the profession,professionals—students achieve higher passincluding large auditing firmspercentages in professional examinationsand all firms and organizationsthan other student groupsthat offer Chartered AccountantLearnerships; universities; andthe South African Institute ofChartered Accountants (SAICA)Chartered Institute ofTo develop internships to upliftManagement Accountantsthe financial and business Internship opportunities for students at Citibank The establishment of an examination panel An accreditation system for training institutions Training for examiners and moderators resultingskills of youth to enhance theiremployability, and contributeto economic growthUGANDAInstitute of Certified PublicTo improve the managementAccountant of Uganda,and conduct of professionalInstitute of Charteredaccountancy examinationsAccountants of Scotland,and the Uganda Countryin an increase in number and quality ofCapacity Building Programexamination questions Examination marking period reduced fromfive–six weeks to two weeks Examination marking expenses reduced by 30% A technical training course covering auditInstitute of Certified PublicTo enhance audit practiceAccountants of Ugandareviews, and the efficiency ofmonitoring, practice management, quality(ICPAU), Institute of Charteredaudit monitoring and evaluationreview, and investigation and disciplineAccountants of Scotland,and the Uganda CountryCapacity Building Program An enhanced audit monitoring methodology Regular technical updates to members via email,and technical resources available on theICPAU websiteZIMBABWE Institute of Certified PublicTo support further developmentAccountants in Ireland andof the accountancy professionEnhanced examinations and assessments ofCPA Zimbabwe students, giving rise to increasethe Institute of Certified Publicin Zimbabwe and of CPAin the number of qualified accountants inAccountants in Zimbabwe (CPAZimbabweZimbabweZimbabwe)Global Accountancy Profession Development Project Gallery 9

SOUTH ASIACOUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSBANGLADESHICAEW, Institute of CharteredTo strengthen the statutory Accountants of Bangladeshframework, reform accounting(ICAB), Institute of Cost andeducation and training, improveManagement Accountantsquality assurance, and supportof Bangladesh, Institutionalthe public sectorCouncil, including a financial reporting act A roadmap to assist the Minister of Financein implementing a comprehensive financialreporting framework for public sector entitiesDevelopment Fund, Bangladesh Ministry of Finance,A framework for the Financial ReportingMemorandum of Understanding between theUK Department forICAB and the Office of the Comptroller andInternational DevelopmentAuditor GeneralTrust Fund, and the World BankChartered Institute of PublicTo train OCAG staff Certification of OCAG staff, enabling themFinance and Accounting (CIPFA),to raise standards, participate in internationalOffice of the Comptrolleraudits, and complete audits of donor projectsand Auditor General (OCAG),more efficientlyand the World BankINDIA Institute of CharteredTo empower the womenAccountants of India (ICAI)members of ICAI, involveCommittee and the Flexi Working Portal forand engage them more fully,Women Members to promote flexible joband encourage female studentsopportunitiesto pursue a career in accounting The Women Members EmpowermentTraining Programme for Women Directorsas well as seminars, conferences, and events Institute of CharteredTo provide conduciveAccountants of Indiareading/studying environments102 Reading Rooms established, which providestudents with a necessary place to study whilefor studentsalso providing a location for discussion andcreating a sense of professional camaraderieand communityNEPALAustralian Accounting StandardsTo build the capacity of AOSSGBoard, Asian-Oceaniandeveloping country members toStandard-Setters Groupimplement IFRS, develop a model(AOSSG), Hong Kong Institutefor national standard setters andof Certified Public Accountants,secure funding, and to overhauland the IFRS Centre ofthe Nepal Accounting StandardsExcellence in a DevelopingBoard’s standard-setting processCountry10 Global Accountancy Profession Development Project Gallery Improved capacity for standard settingand financial reporting Additional IFRS Centers of Excellencein Developing Countries

SOUTH ASIA (CONTINUED)COUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSSRI LANKAChartered Accountants of SriTo strengthen financial reporting Lanka (CA Sri Lanka) and theand audit qualityImplementation of a quality assuranceframeworkWorld Bank Training on:–– IFRS—150 participants in the IFRSAwareness Program, and six-day IFRStrain-the-trainer program–– International Standard on Quality Control 1—300 practitioners made aware of the newaudit quality control standard (SL-SQC-1) CA Sri Lanka, ConfederationTo raise awareness of theof Asia Pacific Accountants,financial reporting supply chainfor Economic Development (FRED) attended byIFAC, South Asian Federationfrom a stakeholder perspective200 regulators, policymakers, business leaders,of Accountants, and the2014 Conference on Financial Reportingacademics, and professionals from AsiaWorld BankCA Sri Lanka, CIPFA, Institute ofTo promote public sector reform,Public Financeand develop the competency ofand Development Accountancy,public financial managementand the World Bankprofessionals Established the Association of Public FinanceAccountants of Sri Lanka as part of CA Sri Lanka A professional qualification for public sectorfinancial management professionals Government commitment andfunding for training of public financialmanagement professionals CA Sri Lanka and DeutscheTo strengthen the SME sectorGesellschaft für Internationaleby improving access to financeReporting Standards with 100 participantsZusammenarbeit, GmbH (GIZ)and competitiveness throughper seminarinnovation and technology,and by creating an enabling Seven regional seminars on Sri Lanka FinancialHelp desk and training program on basicaccounting and book keeping for SMEspolicy environment Financial lending institutions opening doorsto SMEsCA Sri Lanka and the WorldTo assist SMPs in effectivelyBankapplying ISAs Four tailored workshops, benefitting at least400 SMPs A toolkit consisting of three volumes—CoreConcepts, Practical Guidance, Audit Templates Chartered Institute ofTo equip youth with theManagement Accountantsconfidence, competency, andMinds and A-level revision classes, reachedcapability to succeed in a globalthousands of students and provided equalmarketplaceopportunities for students to gain knowledge National initiatives, including Spellmaster YoungShifted thinking to being more inclusive andsensitive to the needs of the communityGlobal Accountancy Profession Development Project Gallery 11

EUROPE AND CENTRAL ASIACOUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTS22 COUNTRIESEuropean Union (EU), FIRSTTo support financial reporting IN CENTRAL,Initiative, World Bank Centrereforms, professional accountancyEASTERN,for Financial Reporting Reform,development, institutionalAND SOUTHERNand the governments of Austria,capacity building, andEUROPE3Luxembourg, and the Swisseducational developmentRegional and in-country training, seminars,and digital learning Virtual seminars on accounting, auditing,and financial reporting in 14 countries, reachingmore than 1,200 participantsConfederation Assistance for newer EU member states toimplement EU requirements and harmonizefinancial reporting laws Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Croatia, Czech Republic, Georgia, Kazakhstan, Kosovo, Kyrgyz Republic, Latvia,3Macedonia, Moldova, Montenegro, Poland, Serbia, Slovenia, Tajikistan, Turkey, Ukraine, UzbekistanAZERBAIJANGEORGIAREPUBLICChamber of Financial AuditorsTo support the adoption andRomania and PAOs in fiveimplementation of ISAs Benefits of Applying the International Standardson Auditing and Audit Reform Proposalscountriesconference OF MOLDOVAPublication of a professional journal bythe Association of Professional AccountantsUKRAINEand Auditors of the Republic of MoldovaRUSSIANFEDERATIONIRELANDInstitute of Certified PublicTo develop the CPA CertificateAccountants in Irelandin IPSAS Financial Reporting for IPSASAcademy.net, launching November 2014 Certification scheme for auditors workingprofessionals in the public sector,particularly thosein developing nationsKOSOVOChartered Institute for PublicTo increase complianceFinance and Accountancy, Officewith International Public Sectorfor the OAG of Kosovo and training curriculumof the Auditor General (OAG)Accounting Standards andfor public sector auditorsof Kosovo, and the Societyenhance the professionalismof Certified Accountants andof public sector auditorsAuditors of KosovoPOLANDROMANIAAccountants Association inTo provide high-qualityPoland, Polish Ministry oftranslations of IFRS Translated IFRS included in the Official Journalas an Annex to Regulation (EC) 1606/2002 ofFinance, accounting firms, andthe European Parliament and of the Councilhigher education institutionsof 19 July 2002Chamber of Financial AuditorsTo provide high-qualityof Romaniatranslations of the internationalstandards12 Global Accountancy Profession Development Project Gallery International standards translatedinto Romanian

EAST ASIA AND PACIFICCOUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTS13 COUNTRIESAustralian Agency forTo enhance professional IN EAST ASIAInternational Development,competencies, analytical andwhere fellows nominated by regulatorsAND PACIFIC4CPA Australia, professionalcritical thinking, and networkingand/or PAOs learn about governance and ethicsaccountancy organizationsskills of accounting professionalsand build global financial reporting, strategicin 12 countries, and theto progress into leadershipmanagement, and leadership skillsMinistries of Finance in Bhutan,positionsAn international partnership programCambodia, and Vietnam Bhutan, Cambodia, China, Fiji, Indonesia, Kampuchea, Lao, Mongolia, Papua New Guinea, Samoa, Solomon Islands, Sri Lanka, Vietnam4AUSTRALIA Institute of CharteredTo support accounting educationAccountants Australia and CPAand build long-term relationshipsActive engagement in higher education reformsAustraliawith academicsInstitute of CharteredTo increase and influence theAccountants Australiaconversation regarding high-for Global High-Quality Public Sectorquality public sector financialFinancial Reporting—giving rise to increasedreporting, in particular to provideinternational debate on public sector financialthought leadership to thereportingand Indigenous Accountants Australia initiative Thought leadership publication, It’s timeconsultation being undertakenby the World Bank, InternationalMonetary Fund, and Organisationfor Economic Co-operation andDevelopmentCHINA Chinese Institute of CertifiedTo provide improved guidancePublic Accountants andon developing non-audit servicesTen models to demonstrate good practiceand three pilot accounting service programs—accounting firmsassisting accounting firms in providingnon-audit servicesChinese Institute of CertifiedTo recruit, and enhancePublic Accountantsthe training of, accountingprofessionals Computer-based CPA examinations accessibleat a national and international level Leading CPA Talent—a leadership programhelping more than 23,000 graduates Chinese Institute of CertifiedTo achieve convergence ofPublic Accountants, Hong Kongfinancial reporting, auditing,and auditing standards, and in 2011 on ethicsInstitute of Certified Publicand ethics standards betweenstandardsAccountants, and the Ministry ofChina and Hong Kong,Finance of Chinaand thereby convergence Joint declaration in 2007 on financial reportingStock Exchange of Hong Kong’s acceptancein 2010 of Mainland accounting and auditingwith international standardsstandards for companies incorporated inthe Mainland and listed in Hong Kong,and a reciprocal arrangement by the Mainland Continued cooperation on importantprojects, including translation ofinternational standards and a projecton professional judgmentGlobal Accountancy Profession Development Project Gallery 13

EAST ASIA AND PACIFIC (CONTINUED)COUNTRYPARTNER(S)OBJECTIVE(S)SELECTED HIGHLIGHTSMONGOLIAAssociation of CharteredTo improve continuing Certified Accountants,professional development systemsdevelopment systems that enable PAOs toConfederation of Asian andof PAOscomply with legislative requirements andPHILIPPINESVIETNAMPacific Accounta

Report on Observance of Standards and Codes Recommendations to mobilize the accountancy profession and prepare the PAOs for IFAC membership MAURITIUS Association of Chartered Certified Accountants and the Mauritius Institute of Professional Accountants (MIPA) To develop the accountancy profession, and build MIPA's capacity