24 February 2014

Tanzania: Local Accountancy Body Demands Global Recognition

THE Controller and Auditor General, Mr Ludovick Utouh, has called upon the UK-based Association of Chartered Certified Accountants (ACCA) to give some exemptions to Certified Public Accountants (T) holders in qualifying for their examinations.

He said that he believed CPA (T) holders were entitled to special exemptions in ACCA examinations to reciprocate on a similar treatment accorded to ACCA holders by the National Board of Accountants and Auditors (NBAA). "ACCA should be more considerate in giving exemptions to our CPA(T) holders.

I believe it is appropriate for Tanzanian youth to acquire international qualifications," he said at a seminar for financial journalists in Dar es Salaam over the weekend.

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants offering the Chartered Certified Accountant qualification (ACCA or FCCA).

As of May 2012, ACCA was one of the largest and fastestgrowing global accountancy bodies with 154,000 members and 432,000 students in 170 countries.

Mr Utouh said he believed there was a strong reason for ACCA to forge closer working relations with NBAA for the two institutions were working on a similar path to train professional accountants. "We have a very strong and reputable body offering CPA certificates to students.

I think they two bodies need to work together," he said. The ACCA Head of Education and Development in Eastern Africa, Mr George Njari told the 'Daily News' that ACCA would be able to give CPA (T) holders special exemptions by October or November this year.

He said the move had been delayed as the NBAA were still revising their syllabus. "We have been working with NBAA on that but they are currently revising their syllabus. We'll be able to subject CPA (T) holders to our process once the revision work is complete.

"We are keen to receive the revised syllabus so that we can give CPA (T) holders exemptions," he said. A senior partner with Globe Accountancy Services 2013, Mr Method Kashonda, said he understood that the process to give exemptions to Tanzanian holders had started on institutional basis.

He said the Mzumbe University students were accorded special exemptions and discussions were underway to take the University of Dar es Salaam students on board.

"It is happening but in order to maintain quality it is necessary to make sure what is being taught in these institutions is good enough to merit exemptions," Mr Kashonda who was the first president of ACCA in Tanzania, said.

NBAA is an examining body for the accountancy professional qualifications in Tanzania. The body collaborates with a number of training institutions, both public and private institutions to train candidates for its examinations.

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