By Ndey Sowe
The Gambia Institute of Chartered Accountants (GICA), held its first Annual General Meeting (AGM) at the National Nutrition Agency (NaNA) conference hall on the 5th of January 2018.
The objective of GICA AGM, was to promote, maintain and increase the knowledge, skills and competence of members.
In his remarks, the Acting Vice President of GICA Babucarr Khan, spoke on the Annual Report and Financial Statement of the Institute for the year 2018, and said the vision of the institute is to be part of the leading professional accountancy bodies in the world, shaping the Governance and accountability of public and private organizations and to ensure sustainable economic growth for the country. He added that the mission of GICA is to promote the development of the accountancy profession through the adoption and implementation of global accounting and auditing standards, high ethical and business conducts, while building the capacity of the membership to enhance the quality of service to clients and the wider public interest.
Khan said the Institute was established by an Act of Parliament, the Financial Reporting Act 2013, which repealed the Act of 1991, thereby replacing the Gambia Association of Accountants (GAA).
“This landmark Act sponsored by the World Bank through the Report on the Observance of Standards and Codes (ROSC), is a significant milestone in the development of the accountancy profession in the Gambia,” he said. Khan said the role of accountants have been changing and that this phenomenon shall continue which requires them to continue to be more courageous, dynamic and responsive to the changes in our environment.
“Findings from the Commission of Enquiry into the assets of the former president, has exposed the standing of our profession,” he said.
On behalf of the Executive, he thanked members including students, the Government of the Gambia through the PCU under the Ministry of Finance and Economic Affairs, Central Bank and all stakeholders whose continuous and valuable collaboration, has made GICA what it is today.
In his statement, the Permanent Secretary at the Ministry of Finance and Economic Affairs (MoFEA) Mod K Ceesay, said the contribution of accountants cannot be over emphasized in the implementation of the public financial management reform Act of 2018-2021. He noted that GICA has been tasked by Government to transform the accounting landscape both in the private and public sectors as indicated in the Act in 2013.
Ceesay however stated that his Ministry and Government, will strive towards the achievement of the goal of GICA, pointing out that they are willing and ready to assume their responsibilities as enshrined or imposed on them, as the financial reporting instituty and as Council members.
He urged members of GICA to fulfill their obligations towards the Institute and fulfil its objectives and goals; that he envisages the day when GICA will have a similar building like that of Petroleum House at the Tune-Table roundabout, and thanked all those who in one way or the other, made the day a success.