The Institute of Certified Public Accountants of Rwanda (ICPAR), held a workshop June 20, to equip those charged with responsibilities related to audits of financial statements with the new skills in current audit program and procedures.
ICPAR is a Professional Accountancy Organization (PAO) mandated by law to regulate the Accounting profession in the republic of Rwanda.
Speaking to the press during the seminar; Peter Rutaremara ICPAR president said, “Practical approach in this seminar will impart skills on how to audit in financial statement.”
“We are training them on international standards in auditing and how it is being done internally.This is to refresh them and to make sure what they are doing is in compliance with international auditing standards,” he added.
Rutaremara also said that in auditing every time there is a new development and that such workshop is to keep them updated and to help them overcome challenges in the particular field.
He further noted that among the challenges auditors go through is mainly time to update themselves on the current programs saying they always busy.
Over 50 participants from the cross cutting fields including; Professional Accountants, Audit Practitioners, Internal Auditors, Audit Consultants, among others turned up for the one day seminar held at Lemigo Hotel in Kigali.
Among the trainees; Leger Iradutiza from GPO Partners Rwanda Ltd, a cabinet of External Auditors said, “I applaud the training it is in the exact line with our work as auditors, and they taught us new standards to help us perform well during our work.”
According to ICPAR; compliance to International Standards on Auditing continues to be a real challenge to the professional Accountants and Auditors.
Participants were trained on Audit Planning, Audit of the statement of Financial Position, Audit of the Statement of Comprehensive Income, and also Audit Completion.
The case of Rwanda is also highlighted by the 2008 World Bank study on compliance with accounting and auditing standards.
The International Standards on Auditing Clarity Project commissioned by the International Accounting and Auditing Standards Board (IAASB) IN 2008 requires Audit Firms and Practitioners to implement the introduced significant changes as soon as is practicable.
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