The Certified Public Accountants of Rwanda (ICPAR) has trained accountants, managers and auditors from Small and Medium Enterprises (SME’s), in professional accounting principles.
The training is one of the measures ICPAR has taken to build professionalism in the profession specifically for those already in service.
ICPAR regulates the accounting profession in the country. It also has a mandate to register and grant practicing certificates to local Certified Public Accountants (CPAs).
According to the Deputy CEO of ICPAR John Munga, serious accounting problems have long plagued audits; repeatedly leading to substantial fines for accounting firms, misled investors, regulators and in many cases even misled the management.
“So we need training to improve on the capacity of members to avoid errors that may cause fraud,” he said.
Statistics published in 2008 indicate that approximately 98 per cent of the country’s total businesses are SMEs and business experts say more efforts are needed to promote as engines of any developing country or economy.
Munga says that the training was vital because it enables them to build their capacity that and they will be able to adapt to changes and developments that come with innovations and advancements in technology.
Participants were told to put the skills they acquired into use to ensure that they positively impact their respective institutions.