The future of the accounting profession
NIPA becomes well equipped for the future
Wetumwene Shikage
Being one of the most critical careers, the accounting profession has a fundamental need to prepare for a future which continues to be highly unpredictable.
On Thursday, 4 March, the Namibia Institute of Professional Accountants (NIPA) held an admission ceremony at the Nictus Holdings head office in Windhoek. The event was held to welcome new NIPA members.
The accountancy profession plays an important role in providing business and governments with important data and financial information that forms the basis of effective decisions that drive the economy. Thus, NIPA sees it fundamental for professionals in the accountancy profession to play an important role in the value chain of the economy. This is in both business and government in order to utilise resources to achieve business and stage goals with the ultimate aim of serving the right interest of the citizens of the country.
Many professions have been hit hard by the Covid-19 pandemic and thereafter resorted to the new technological advances to keep the status of work satisfactory. The accounting profession has not been exempted. The current quote in the accountancy is: “Technology is the major threat to the profession and the work of professionals in the accounting profession, making them (professionals) redundant.”
The president of NIPA, Brune Pretorius, said NIPA has efficiently prepared themselves for new developments which are mandatory for the profession as a whole. “NIPA through its foresight has taken the stance that professional accountants are here to stay, but they will have to adapt their skill sets to do different things, rather than doing things differently.”
She added that NIPA has embarked on a journey that will capacitate the skills of professional accountants not only to remain relevant in the changing environment but also to become trust ethical leaders in rendering value added services to businesses and the government.
One of the students who completed the accounting programme online with NIPA, Frieda Awene, shares that she had a pleasant experience with the programme. “It was truly a great experience. It is true that we worked a lot from home, some things did not really make sense. However, this programme assisted me a lot in making these things clear. I could work in the comfort of my home and complete assessments at my own pace,” she said.
Remaining relevant
It remains the role of the organisation to be relevant even after adopting new ways of working. Through the dynamic leadership of NIPA, the organisation was able to develop a plan that will be implemented with immediate effect after already having implemented this for the past two years: restructuring the professional qualification that will develop the aspiring professional accountant throughout the supply chain by developing competency-based qualifications at Accounting Technician and Professional Accountant levels; developing a competency framework that will capacitate professionals to render services at international proficiency standards built on the core competencies of digital proficiency, professional and ethical conduct, emotional and social quotients; implementing competency-based training and assessment conducted under the auspices of NIPA by suitably qualified training providers with the objective to ensure that they are aligned with the competency framework and proficiency standards; implemented a preparatory programme for the professional evaluation which does not only develop technical knowledge of the candidates but, more importantly, preparing them for their professional careers and implemented a competency-based assessment that evaluates the competencies of the candidates holistically in terms of them becoming trust business and value-added advisors in the profession.
NIPA assures that its aspiring members are secured in the 4IR era because they have trust in the professional body but not only to equip you with the skill sets to be future-ready but also to transform from compliance officers who produce financial statements to the interpreters and users of data to support management to make effect economic decisions.
The organisation has also embarked on a programme to assist persons that have qualified in the past to write the Board exam, but could not for any significant reason do so.
Being one of the most critical careers, the accounting profession has a fundamental need to prepare for a future which continues to be highly unpredictable.
On Thursday, 4 March, the Namibia Institute of Professional Accountants (NIPA) held an admission ceremony at the Nictus Holdings head office in Windhoek. The event was held to welcome new NIPA members.
The accountancy profession plays an important role in providing business and governments with important data and financial information that forms the basis of effective decisions that drive the economy. Thus, NIPA sees it fundamental for professionals in the accountancy profession to play an important role in the value chain of the economy. This is in both business and government in order to utilise resources to achieve business and stage goals with the ultimate aim of serving the right interest of the citizens of the country.
Many professions have been hit hard by the Covid-19 pandemic and thereafter resorted to the new technological advances to keep the status of work satisfactory. The accounting profession has not been exempted. The current quote in the accountancy is: “Technology is the major threat to the profession and the work of professionals in the accounting profession, making them (professionals) redundant.”
The president of NIPA, Brune Pretorius, said NIPA has efficiently prepared themselves for new developments which are mandatory for the profession as a whole. “NIPA through its foresight has taken the stance that professional accountants are here to stay, but they will have to adapt their skill sets to do different things, rather than doing things differently.”
She added that NIPA has embarked on a journey that will capacitate the skills of professional accountants not only to remain relevant in the changing environment but also to become trust ethical leaders in rendering value added services to businesses and the government.
One of the students who completed the accounting programme online with NIPA, Frieda Awene, shares that she had a pleasant experience with the programme. “It was truly a great experience. It is true that we worked a lot from home, some things did not really make sense. However, this programme assisted me a lot in making these things clear. I could work in the comfort of my home and complete assessments at my own pace,” she said.
Remaining relevant
It remains the role of the organisation to be relevant even after adopting new ways of working. Through the dynamic leadership of NIPA, the organisation was able to develop a plan that will be implemented with immediate effect after already having implemented this for the past two years: restructuring the professional qualification that will develop the aspiring professional accountant throughout the supply chain by developing competency-based qualifications at Accounting Technician and Professional Accountant levels; developing a competency framework that will capacitate professionals to render services at international proficiency standards built on the core competencies of digital proficiency, professional and ethical conduct, emotional and social quotients; implementing competency-based training and assessment conducted under the auspices of NIPA by suitably qualified training providers with the objective to ensure that they are aligned with the competency framework and proficiency standards; implemented a preparatory programme for the professional evaluation which does not only develop technical knowledge of the candidates but, more importantly, preparing them for their professional careers and implemented a competency-based assessment that evaluates the competencies of the candidates holistically in terms of them becoming trust business and value-added advisors in the profession.
NIPA assures that its aspiring members are secured in the 4IR era because they have trust in the professional body but not only to equip you with the skill sets to be future-ready but also to transform from compliance officers who produce financial statements to the interpreters and users of data to support management to make effect economic decisions.
The organisation has also embarked on a programme to assist persons that have qualified in the past to write the Board exam, but could not for any significant reason do so.
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