Presented to the IESBA Meeting
of 4-6 December 2013, New
York, by
Chishala Kateka
The questionnaire by Chishala Kateka
was kindly circulated by the Pan
African Federation of Accountants
(PAFA) to its Member bodies.
PAFA sent the survey to its 34 member nations of which 9
responses were received


Seeking to raise awareness of the Code of
Ethics for Professional Accountants (the
Code) amongst its members within the
African Region, and
Seeking to understand the environment
within which IFAC Member Institutes
operate in relation to the Code.
i)
8/9 PAFA Members have adopted
the Code as their ethics standards
ii)
5/8 Respondents using the Code
use an earlier version than the
2012 one.
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
In 6/8 Countries using the Code, members
are reasonably aware of the Code – members
being given copies of the Code upon being
admitted to membership
In the other two countries, awareness is low.

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Self-interest threats (failure to maintain
objectivity and independence
Issues of Corporate Governance and Conflict
of Interest - Independence
Close and or Immediate family relationships



Public practice members provision of services
even in areas where members are not very
competent
Members in Practice signing accounts that they
have not prepared nor reviewed
Members in Public Sector in Private Accounting
Business. (Public Service Accountants setting up
firms on the side in addition to their day jobs)
This is done through:

Training

Provision of materials (copy of the Code)

Competence Exams

Accountancy Magazines

At graduation ceremony, CPAs graduates take an
oath to honour the provisions of the Code.

The lack of availability of quality trainers

Inability to punish culprits/non-adherents

Lack of resources (material and information)
and staff not equipped to implement the
Code

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
Develop easy to read guidance material on the
Code. The material code could, for instance, be
based on different topics with the Code with
adequate examples.
Have highlights - Perhaps a pocket guide.
IESBA can organize awareness workshops jointly
with local associations in order to ensure a wider
spread of contents of the Code.


IESBA could provide their branded educational
materials on the Code to member bodies
from time to time to IFAC member bodies for
distribution to Professional Accountants in
the jurisdictions.
The regional trainings of trainers for PAO’s
relevant staff

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It is likely to impact other professionals in the
Banking and Financial Services Sector.
The Society and Business Community will have
trust in the Accountancy profession and place
more reliance on Accountants and Auditors
The ethical behavior of Accountants will influence
that of their clients towards building an ethical
nation.


Awareness workshop to be jointly organized by IESBA
with local Institutes
Perhaps exposure to the Code as early as the tertiary
level would ensure that the Code is entrenched even
before the student reaches the workplace.

IESBA should ask for slots whenever PAFA or Institute
has CPD meetings

Publishing articles through the Institutes

Publication of standalone chapters of the Code
Other
comments
from
PAFA
members that in their opinion
would be useful in assisting the
IESBA to improve communication
and mutual awareness with IFAC
member Institutes in the Region


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A provision of information on how other institutes across
the world are implementing awareness of the Code, would
be useful.
IESBA frequent communication with the Institutes will help
to ensure compliance with the Ethics Code in the form of
questions, Surveys and Annual Reports. This suggested
interaction with the Institute will contribute to raising the
Ethical stance of the Institute’s members.
IESBA to actively collaborate with PAFA and other subregional bodies to improve communication and raise
awareness.


IESBA is not as visible as the other Boards and
has taken a back seat – and yet it provides a
framework in which we operate in and is thus
important
It is not communicative

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The responses constitute of 26% of the PAFA
Members and would thus be representative
Members have an awareness but not necessarily
a detailed knowledge of the Code, particularly
those in industry
There is room for improvement with regards to
communication between IESBA and member
bodies of IFAC and their members

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Sub-Saharan Africa comprises economies that
are ‘emerging’ with growth rates above the
global economic growth rates and is currently
attracting a lot of FDIs. This is projected to grow
further in the next few years.
As we pursue to attain convergence, I think that
it is a soft target for the IESBA to help entrench
the Code..
A cost effective plan for reaching out needs to
therefore be made and systematically followed.



Sub-Saharan Africa comprises economies that
are ‘emerging’ with growth rates above the
global economic growth rates and is currently
attracting a lot of FDIs. This is projected to grow
further in the next few years.
As we pursue to attain convergence, I think that
it is a soft target for the IESBA to help entrench
the Code..
A cost effective plan for reaching out needs to
therefore be made and systematically followed.
The End