The Accounting Profession in The Gambia

Councils and Its Committees

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The Strategic Significance of GAA

Upcoming Activities 2004

The Strategic Significance of GAA

The various economic recovery programmes of the West African sub-region recognise the importance of good accounting and effective financial management both at the macro and micro economic levels as an instrument of economic and social development.

The role of the accountancy profession in the realisation of economic recovery programme objectives cannot therefore be over-emphasised. The GAA recognises, however, that there is a lack of an overall coherent, consistent and co-ordinated strategy for the development of accountancy in The Gambia and the common voice of professional accountants in both formal employment and public practice.

The GAA is currently acting as a focal point for co-ordinating the various efforts of capacity building and enhancement with respect to the development of accountancy in The Gambia.

• Developing operational plans to implement policies, programmes and strategies determined by GAA.
• Obtaining the co-operation of and maintaining liaison with donor agencies, Association of Accountancy Bodies of West Africa (ABWA) and other international organisations.
• Soliciting fund and promoting the activities of the Association.
• Ensuring the efficient running of the Secretariat.
• Planning, directing and co-ordinating the operation implementation of the Associations programmes particularly with respect to membership drive and encouragement of capacity building and enhancement efforts of the national and regional accountancy bodies (in member-countries).
• Promoting systematic building of effective regional networks of accountancy trainers, government agencies business associations and professional associations in the sub-region.
• Secretary and liaison officer of the Accountant's Council.

  The Gambia Association of Accountants through the assistance of the Gambia Government secured a grant from the International Bank for Reconciliation and Development of the World Bank for the strengthening the capacity of the accountancy profession in the Gambia. The grant signed almost two years ago on 14th November 2001 will assist to put in place the necessary framework and environment that will facilitate the effective functioning of the accountancy profession in the Gambia. The purposes of the grant are to :

  1. Strengthening the capacity of GAA.
  2. Train teachers and lecturer at local accounting training institutions and develop appropriate accounting, auditing and financial management curricula for local accounting training institutions.
  3. Strengthen the capacity of the National Audit Office.
  
  GAA will be strengthened from:
  
  • A computerised budgetary control system with manual of procedures and a computerised billing and accounting system ·
  • An information database for GAA membership that will include the development of a web site ·
  • The upgrading of the association to institute ·
  • Revised company and taxation laws, National Accounting & Auditing Standards (NAAS) and Professional Codes of Ethics
  • Accounting professional examination scheme and continuing professional Education program
  • A professional accounting and auditing curricula adopted by Government and integrated into the education programme of local institutions
  
  As part of the grant, the GAA awarded a consultancy contract to ACCA (UK) in June this year. The main focus of ACCA under the contract are:

  ACCA is the largest global professional accountancy body with nearly 300,000 members and students in 160 countries including the Gambia. ACCA's reputation is grounded in almost 100 years of providing quality accounting and financial qualification. ACCA has responded to many approaches from national Government and other Organizations for assistance in developing their own accounting profession. In the Gambia alone there is about 80 ACCA members and over 300 ACCA student members ACCA also operates several Joint Examination schemes with partner bodies around the world. The GAA ACCA has just signed a joint Exam scheme as agreement.

  © GAA 2004