The Afghanistan Ministry of Finance and ACCA Sign Agreement to Develop the Accountancy Profession in Afghanistan
Stephen Heathcote, the Director of Markets at the Association of Chartered Certified Accountants (ACCA) and Mr. Alhaj Muhammad Aqah Kohestani, the Director General of Afghan Ministry of Finance, have signed a Memorandum of Understanding (MOU) in order to establish a partnership for the long-term development of finance and accounting profession in Afghanistan.
The goals for the partners working together for the development of finance profession in Afghanistan have been set out in the MOU. ACCA will be providing specialist consultation and advice on different areas such as setting up a country wide Professional Accounting Organization, including professional regulation, educational development, and issues of membership.
Stephen Heathcote, executive director of ACCA, expressed that the global accounting body is happy and honored by signing the MOU and by meeting with the World Bank and the Afghan Government delegation for the purpose of discussing the finance profession’s development in Afghanistan. He mentioned that they share the aim of promoting the accountancy profession’s value in the economic development and society.
Heathcote indicated that the ACCA has great understanding of capacity building in evolving economies and works with the governments, regulatory bodies, learning providers and the NGOs all over the world for the development of the accountancy profession in the countries having demand for regulated and professionally qualified accountants.
Mr. AlhajKohestani stated that together they are dedicated to support the development of accounting profession in Afghanistan by setting up the infrastructure and framework for the long standing sustainable development. He added that they will be working collectively for the enhancement of application and endorsement of the International Financial Reporting Standards (IFRSs) and they will also share information on best practices for capacity building of the Professional Accountancy Organization.
This partnership is aimed to develop the sustainable and long-term national accounting profession. The wider development program will be formed by the visit of the Afghan Finance Ministry to the ACCA offices.