The aim

Building effective professional accountancy organisations

When professional accountancy organisations (PAOs) are sustainable, relevant and credible, they deliver dedicated accountancy professionals who drive quality governance, financial management, reporting and auditing in the public and private sectors. They contribute to increased confidence in business, trust in government, foreign direct investment, and the effective use of foreign development assistance.

PAFA supports the development of PAOs and advances accountancy learning and development in Africa.

Contact us for more information.

Sustainability1

Long-term sustainability is a product of institutional actions combined with environmental risk considerations driven by PAO recognition in the jurisdiction; having strong governance and an effective management infrastructure; sufficient human resources; and financial viability. Stakeholder value creation is a key ingredient for sustainability.

Sustainability

Recognised and capacitated

Wes hicks Gl Io Shgt2 PQ unsplash

Sustainable PAOs gain relevance when they render quality service to members and students and are trusted advisers to government, business and society in the public interest.

Relevance

Creating value for stakeholders and society

IMAGE 3

Relevant and sustainable PAOs gain credibility when they are able to support quality professional development and a recognised professional qualification; quality ethics and values; and quality standards for reporting, assurance and quality management, as well as have effective processes for quality management and investigation and discipline.

Credibility

Developing accountancy professionals, driving international standards, and monitoring and enforcement

The aim

Advancing technical excellence

The accountancy profession is anchored in international standards that serve as best practice in the public and private sectors on how to report on the activities of an enterprise to create value, how to obtain assurance on this information, and how accountancy professionals should conduct themselves as guardians of this information.

PAFA contributes to the development of international standards, facilitates the adoption and implementation of such standards, enhances public financial reporting through accrual accounting as a key area of focus, and advances sustainability and integrated reporting in Africa.

Advancing technical excellence2

The aim

Enhancing the quality and mobility of accountancy services

Quality accounting, audit and assurance services drive improvements in information, underpinning capital markets and decision-making in small and medium-sized enterprises and governments. The successful adoption and implementation of the International Standard on Quality Management of the International Auditing and Assurance Standards Board, and effective functioning of a national quality review system, are essential to building confidence and trust among participants in financial markets and governments.

PAFA supports the development and maintenance of effective national quality review systems, i.e. helping its members to equip accountancy professionals and their firms to comply with international standards on quality management.

Rectangle 1

The aim

Public value management

PAFA recognises the important role that the accountancy profession plays in strengthening PVM systems to achieve fiscal discipline, effective resource allocation and effective service delivery to the citizens of Africa. PAFA’s strategic actions aimed at promoting and supporting good governance, transparency and accountability in the public sector are integrated into our three strategic areas of focus:

  • Effective PAOs

  • Technical excellence

  • Quality and mobility.

Our partnership with the African Professionalisation Initiative will remain a key strategic action from 2022 to 2024

Carlos muza hpj Sk U2 UYSU unsplash