Namibia needs accountants

FIRST National Bank Namibia has assisted the Institute for Commercial and Financial Accountants of Namibia (CFA) with a sponsorship for training new accountants due to a severe shortage of qualified people in Namibia.

FNB joined hands with the Institute for Commercial and Financial Accountants of Namibia in 2008. This year the FNB sponsorship will be used to help address the huge shortage of accountants in Namibia, by sponsoring training manuals, log books and the syllabus for the training of accounting clerks.

FNB Namibia is also the proud sponsor of a programme for qualified accountants to aid in their continued professional development. CFA was founded 26 year ago in SASA, but opened an independent office in Namibia in January 2005. The Institute comprises registered practicing accountants in the business sector, Government and institutions of higher learning.

The institution is a member of the ECSAFA, the Eastern, Central and Southern African Federation of Accountants, and, just like FNB Namibia, is proud to be a member of Team Namibia.

The aim of the CFA is to develop the accounting profession and to regulate accountants by applying the following criteria: objectivity, integrity, professional competitiveness, positions of trust and other technical standards. The aim is also to develop relationships with other institutions in order to ensure the development of future accountants.

“Our primary function is to ensure that members adhere to the professional code of ethics of the institute, mainly because it is almost impossible to deliver reliable feedback and reporting as well as to determine responsibilities of entities without proper regulation and professionalism,” commented Mr. Piet van Nieuwenhuizen, CEO of CFA.

There is a serious shortage of trained and qualified accountants in Namibia. The population spans roughly two million people, of which an estimated 400 000 are taxpayers with only about 98 accountants and 311 auditors to service them.

A nyone who is interested in becoming a registered accountant can apply for training. The CFA is proud to be one of the very few institutes worldwide that can train school leavers to become accountants.

This training and development programme and supporting material was made possible through teamwork, and especially through the commitment of sponsors like FNB.

“We would like to thank FNB Namibia for their ongoing dedication towards the profession. It will benefit the entire Namibia in the long run,” Mr Van Nieuwenhuizen said in conclusion.

This sponsorship will assist in addressing the huge shortage of accountants in Namibia. FNB Namibia is furthermore the proud sponsor of a programme for qualified accountants to aid in their continued professional development.