AFIAAR and ACCA sign memorandum of understanding to enhance audit quality in Africa

Location and Participants of the Signing

The MoU was signed in Mauritius during a hybrid ceremony. Attendees included representatives of the AFIAAR Board of Directors and regulatory members such as the Financial Reporting Council of Mauritius (FRC Mauritius), the Independent Regulatory Board for Auditors South Africa (IRBA South Africa), and the National Board of Accountants and Auditors Tanzania (NBAA Tanzania).

Significance for Africa

Jamil Ampomah noted that strong institutions depend on trust, and trust, in turn, depends on both professional competence and effective oversight. He emphasized that the joint work of AFIAAR and ACCA in aligning professional excellence with robust oversight will help strengthen audit quality, support future talent, and contribute to increasing confidence in reporting, governance, and investments across Africa. Vishwajit Singh Tuhobol, Chairman of AFIAAR, stated that high-quality audits are the foundation of public trust, investor confidence, and the effective functioning of markets.

The statement also clarified that AFIAAR promotes quality through independent supervision, inspections, and enforcement, while ACCA strengthens quality through education, training, and professional development. Admaire Ndurunduru, CEO of AFIAAR, added that this MoU provides a practical platform for regulators and the professional community to address common tasks and challenges, which will enhance both regulatory effectiveness and professional capabilities in the interest of protecting the public.