Lessons Learned and Recommendations Ignatius Sehoole – Chair, IFAC Developing Nations Committee

Recommendations Needs of SMEs and SMPs Access and understandability of standards, particularly accounting Translation Implementation guidance

Recommendations Corruption and Ethics Need behavioral and structural change Ethics education at all levels Profession should lead by example and promote anti-corruption laws and regulations

Recommendations Education Adopt regional approach Share curricula and expertise Engage relevant stakeholders to effect change Institutional capacity and resources absolutely vital to address issues

Recommendations National Accountancy Bodies Must have strong government support Need to focus on private and public sector Importance of accounting technician development Developing a plan for 16 countries not represented at this Workshop Donor and established professional body assistance required

Recommendations Corporate Governance Profession should promote the benefits to leaders of African society Consistency of corporate governance and company law Training

Recommendations Public Sector Accounting and Auditing Strong legal framework for financial management Education and training resources Development of monitoring and evaluations systems

Next Steps Africa Focus Group formed ECSAFA ABWA FIDEF IFAC (coordination and facilitation role) Initial funding from World Bank and African Development Bank

Africa Focus Group - Priorities Strengthen regional cooperation and action Creation of Pan African Institute of Accountants Develop and promote regional Accounting Technician training and certification scheme