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28 July 2017 Addis Ababa, The Board reviewed significant achievements in the 2017 EFY and identified key challenges to be eradicated in the upcoming 2018 budget year to enhance overall performance and effectiveness.
The advancements in reviewing audit quality and the related enforcement initiatives driving this effort, the establishment of the Ethiopian Institute of Certified Public Accountants, ETICPA through proclamation No. 1372/2025 and the registration of self-hided reporting entities in the threshold of the Board was one of the success of the Board in promoting the accountancy profession in Ethiopia. The importance of raising awareness about sustainability and recognized ongoing activities as positive efforts have thoroughly discussed.
Overall, there was an emphasis on optimizing the use of available human resources and technology for the registration and licensing of professional accountants and financial report providers, particularly regarding the quality assurance of financial report and audit quality assurance reviews.
The Board highlighted the need to align its work with the 2018 budget plan, aiming to support key economic pillars, mitigate the risks of financial crises and corporate failures, enhance transparency and accountability, and reduce adverse economic effects.
Specifically, the Board aimed to improve the quality and accessibility of financial report reviews and audit quality assurance processes. It has also planned to publicly disclose reviewed institutions, promote knowledge-sharing initiatives, establish consistent awareness-raising platforms for stakeholders, and actively introduce the Board to the public so that public as well as national interest need to be maintained.
In conclusion, Board employees are encouraged to strive for better outcomes by understanding and aligning with the Board’s vision, mission, values, and the responsibilities outlined in the proclamation No.847/2006 and Regulation No.332/2007. It is recalled that this discussion was held on June 15/2017 e.c. with the entire employee.