Land Mark MOU Signed by ACCA and Columbian National Accountancy Body

In Colombia, the progression and growth of the accountancy profession has been boosted by a Memorandum of Understanding (MOU) agreed and signed between INCP (Institute Nacionalde Contadores Públicos de Colombia), Colombia’s national accountancy body, and the ACCA (Association of Chartered Certified Accountants), a UK based global accountancy body.

The MOU will assist more people to enter into the accountancy profession, through ACCA’s support of employing International Financial Reporting Standards (IFRS) in Colombia and its training through online certificates and exams.

Toby Moseley, ACCA’s portfolio head of Latin America and Turkey, assumed that the impressive partnership would help to add more accountants and auditors in Colombia which has a great level of demand for experts.

He also said that it is the basic duty of accountants to act in the best interest of public. This would ensure that the accountancy profession is reliable, as they work under the generally accepted accounting principles. This is all a part of ACCA’s beliefs to be able to provide consistent accounting and auditing services.

This agreement also ensures that INCP’s members would have access to ACCA’s reports and articles to improve their knowledge.

Hugo Ospina, the president of INCP argued that this MOU was just the initiation of accountancy profession in Colombia. This all was to satisfy the public that they are working in accordance with the International Accounting Standards (IAS’s) and International Standards on Auditing (ISAs). It would be a great effort to reach a level where demands of new markets can be met, under the supervision of ACCA’s code of ethics and conduct.