African Forum of Independent Accounting and Auditing Regulators (AFIAAR) and ACCA (the Association of Chartered Certified Accountants) announced recently in a statement that they had signed a Memorandum of Understanding (MoU) to strengthen collaboration between independent audit regulators.
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African Forum of Independent Accounting and Auditing Regulators (AFIAAR) and ACCA (the Association of Chartered Certified Accountants) announced they have signed a Memorandum of Understanding (MoU) which is expected to strengthen collaboration between independent audit regulators.
The statement said that a defining feature of the partnership is the recognition of the complementary roles of regulators and the profession in delivering high-quality accountancy and audit services.
“AFIAAR, as a forum of independent audit regulators, promotes quality through oversight, monitoring and enforcement in the public interest. ACCA, as a leading global professional accountancy body, supports audit quality through professional education, training and continuing development.”
The statement added that the partnership aims to strengthen accountancy quality by aligning professional capability with robust and credible oversight.
ACCA representatives attending the ceremony included Jamil Ampomah, Director – Africa; Jane Ohadike, Regional Head of Public Affairs – Africa; and Madhavi Ramdin Clarke, Head of Mauritius New Markets and ACCA signatory to the MoU.
“The MoU was signed in Mauritius during a hybrid ceremony bringing together AFIAAR Governing Board representatives and member regulators, including the Financial Reporting Council of Mauritius (FRC Mauritius), the Independent Regulatory Board for Auditors (IRBA) South Africa and the National Board of Accountants and Auditors (NBAA) Tanzania,” added the statement.
Jamil Ampomah, Director – Africa, ACCA, said that strong institutions depend on trust, and trust depends on both professional capability and effective oversight. “By aligning professional excellence with robust oversight, AFIAAR and ACCA will work together to strengthen audit quality, support future talent and contribute to stronger reporting, governance and investment confidence across Africa.”
Viswajithsing Tuhobol, Chairperson of AFIAAR, said that high-quality audits are fundamental to public trust, investor confidence and well-functioning markets. “This partnership recognises the complementary roles of regulators and the profession in achieving that outcome.”
The statement added that ‘AFIAAR promotes quality through independent oversight, inspection and enforcement, while ACCA strengthens quality through education, training and professional development. “By bringing these strengths together, we can enhance accountancy quality, accountability and confidence across Africa in the public interest.”
Admire Ndurunduru, Chief Executive Officer of AFIAAR, said that this MoU provides a practical platform for regulators and the profession to address shared opportunities and challenges. “Through collaboration, knowledge sharing and joint initiatives, we can strengthen both regulatory effectiveness and professional capability in support of protecting the public interest.”
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