UEMOA seeks certification of public institutions’ accounts
By the AFREEQUE newsroom, based on Beninwebtv
UEMOA chartered accountants recommend making certification of public institutions’ accounts compulsory and strengthening oversight of public finances. Their recommendations, adopted at the Cotonou congress on 21 and 22 October, also provide for 40 hours of annual continuing professional development, according to Benin Web TV.
Chartered accountants from the West African Economic and Monetary Union (UEMOA) propose making the certification of public institutions’ accounts by registered professionals compulsory. The recommendation is included in a seven-point declaration adopted at the end of their congress held in Cotonou on 21 and 22 October, according to Beninwebtv.
Participants are also calling for stronger scrutiny of public accounts, greater efforts to combat illicit financial flows and the inclusion of these measures in the laws of member states and community institutions. They recommend annual technical dialogue with financial courts and mandatory consultation with the Permanent Council of the Accounting Profession before financial or tax legislation is adopted.
The roadmap provides for a common minimum of 40 hours of annual continuing professional development. Training would cover ethics, anti-money laundering, terrorist financing, environmental, social and governance criteria, and artificial intelligence.
The scientific committee will monitor, among other things, the rate of certification of public entities, the number of experts trained in environmental, social and governance issues, and the quality of suspicious transaction reports submitted to national financial intelligence units. The congress brought together more than 350 participants from over 18 countries at the Cotonou Convention Centre.
