Léonard AMBASSA
The accounting profession in Cameroon is relatively unknown in its natural environment, Cameroon. This is partly due to its inception conditions: initially established as a substitute to serve taxation requirements while neglecting the fact that a Chartered accountant is first and foremost a brand considering its role in economic TRANSPARENCY in general and particularly the quality of financial information.
This compelling issue here is the core of the State’s macro-economic framework related decisions. It equally plays a catalyst role for good governance and any company’s financial performance throughout its life cycle. Regarding economic sustainability requirements, accountants serve as consultant to three major stakeholders: The State, the Private Sector and Civil Society in carrying out their mandate of arbitrators in the face of this foremost challenge of our time. In other words, the modern society depends on innovation which is expressed through investment directly correlated to the quality of financial information that ensures efficiency in the decision-making process.
The fact that this profession has been poorly understood by even key policy makers has resulted in trust gaps to its detriment considering certain litigations involving some of its practitioners in the public sector, a majority of whom have been acquitted today. However, for several decades now, international professional assessments have been unanimous on a reinforced recognition of this profession by current users of financial information. That is why ONECCA has embarked on an expansion through more focused partnerships so that these natural economic stakeholders in the country can make better use of its input.
This is the new vision at the core of the profession’s development adopted in September 2016 and updated in 2019. This vision places emphasis on building trustworthy partnerships which translates practically into an analysis of specific issues in order to provide ideal solutions to them.
This development plan for the accounting profession was recently updated based on the requirements of 2022. It is built on a triple ambition of a vision focused on scaling of unique expertise and transparency namely:
- Professional Competence and Activity members involved in the development of information quality and financial governance with a seniority of about fifty years’ service in the domain;
- An expansion based on recognized expertise of its members, to meet the requirements of international standards (ethics and code of conduct) whose Statement Membership Obligations comply with our professional values and which are globally recognized;
- Professional vectors that are our technical commissions recognized the national legislator, regional and global standard-setters and regulators from every angle.
This plan is laid out daily by an internal organization in line with all points regarding the compliance of its members with the requirements of its partners.
The presentation of this updated development plan which is now compliant with the preceding vision rendering the project lively, deployed with a new impetus of constant development.
Pursuant to our commitment of supporting our main stakeholders including the State, a significant portion of our ordinal institution’s resources has been devoted to international activities of the accounting profession with the aim of meeting current international challenges related to change.
Such an approach will enable us to align with the major stakeholders of the profession all over the world while enhancing our image with:
- IFAC (International Federation of Accountants), via PAFA (Pan-African Federation of Accountants) its counterpart in Africa currently headed by the President of the Order of Cameroun on behalf of Central Africa;
- INTOSAI (International Organization of Supreme Audit Institutions), whose counterpart is AFROSAI (African Organization of Supreme Audit Institutions), thereby enhancing our image with the State thanks to our trustworthy partnership signed with CONSUPE (Supreme State Control);
- FIDEF (International Federation of Francophone Accountants), with Head Office in Paris where our colleague Daniel KAPSSU, Honorary President of ONECCA did a remarkable as one of its pioneer presidents;
- CEMAC, OHADA and COBAC where we are consulted on a regular basis and where the regulatory and standard-setting decisions on the future of the profession are made at a regional level…;
- CSOEC (National Association of Chartered Accountants) with whom we have a formal trustworthy partnership. One of its very first in Africa, equally encompassing our activities with National association of Certified Auditors ;
- Powerful African Associations especially that of Egypt, Nigeria, South Africa, Morocco, Tunisia… with which we have an impeccable reputation.