Windhoek — Two years ago, FNB Namibia joined hands with the Institute for Commercial and Financial Accountants of Namibia (CFA).

This year, the FNB sponsorship will be used to help address the huge shortage of accountants in Namibia. The money will be used for the provision of training manuals, logbooks and the syllabus for the training of accounting clerks.

The same bank also sponsors a programme for qualified accountants to aid in their continued professional development.

CFA was founded 26 years ago in South Africa, but opened an independent office in Namibia in January 2005.

The institute comprises of registered practising accountants in the business sector, government and institutions of higher learning.

The institution is a member of the Eastern, Central and Southern African Federation of Accountants (ECSAFA).

The aim of the CFA is to develop the accounting profession and to regulate accountants by applying the following criteria: objectivity, integrity, professional competitiveness, positions of trust and other technical standards.

The aim is also to develop relationships with other institutions to ensure the development of future accountants.

"Our primary function is to ensure members adhere to the professional code of ethics of the institute; mainly because it is almost impossible to deliver reliable feedback and reporting, as well as to determine responsibilities of entities without proper regulation and professionalism," said Van Nieuwenhuizen, CEO of CFA.

There exists a dire shortage of trained and qualified accountants in Namibia. The population spans roughly two million people of which an estimated 400 000 are taxpayers, with only about 98 accountants and 311 auditors to service them.

Anyone who is interested in becoming a registered accountant can apply for training.

The CFA is proud to be one of the very few worldwide institutions for training school leavers to become accountants.

This training and development programme and supporting material was made possible through teamwork, and especially through the commitment of sponsors.

"We would like to thank FNB Namibia for its ongoing dedication towards the profession. It will benefit the entire Namibia in the long run," Van Nieuwenhuizen said in conclusion.