Tanzania Oil & Gas

MoU set to benefit professional accountants

KPMG Tanzania has signed a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA) to provide training and additional skills to accountants in the country.

The MoU signed in Dar es Salaam yesterday will enable the two parties to deliver trainings which benefit the accountancy profession and enhance the value of accountants in workplaces.

During signing of the agreement, Head of ACCA Tanzania, Mr Jenard Lazaro, said given the pace of change and size of expenditure in the public sector in Tanzania, it is critical that professionals working in the sector are equipped with right skills to deal with challenges ahead.

Mr Lazaro said that they will collaborate in growing Public Finance Management (PFM) in the country with focus on International Public Sector Accounting Standards (IPSAS).

“ACCA has been actively involved in public sector financial management issues over the years and our qualification is designed to build the accountancy skills and knowledge those working in the public sector,” he noted.

IPSAS are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in preparation of financial statements.

These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). KPMG Partner, Mr Ketan Shah said the MoU is signed with the aim of strengthening the existing cooperation between ACCA and KPMG. “We are both committed to promoting and placing ethical practices at the heart of business, we are both committed to promoting good corporate governance to help build sustainable business,” he said.

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