iCPAR sign Partnership agreement with University of Kibungo - Feb 2018

The Institute of Certified Public Accountants of Rwanda (iCPAR) has entered into a working relationship with the University of Kibungo (UNIK) aimed at harmonizing academic university degree program with accountancy professional qualifications standards currently regulated by iCPAR such as Certified Public Accountants (CPA) and Certified Accounting Technician (CAT).

The key highlights of the partnership framework include:
(i) Align University Accounting programs with iCPAR equivalent qualifications;
(ii) Facilitate and ensure the quality of tuition delivery of iCPAR qualifications;
(iii) Promote iCPAR qualifications among University campuses or any other places when necessary;
(iv) Facilitate University graduates to acquire CAT & CPA membership;
(v) Collaborate in Providing Continuous professional development (CPDs), research, Consultancy services or any other field that may be agreed upon.

The MoU has been signed by Mr. Bosco Mkombozi Karake, the President to the Governing Council of iCPAR and Prof. KARURANGA GAHIMA Egide the Vice Chancellor, University of Kibungo.

Qualified professional accountants are at the heart of the development of Capital Markets. Reliable and credible financial information is needed to build investor confidence, enhance economic development and increase attractiveness of a country’s investment climate thereby encouraging inflows of foreign direct investments (FDI) and general business development.

Therefore, the Government of Rwanda through implementing the Public Financial Management learning and Development (L&D) strategy (Jan 2018), envisages a critical mass of around 7,387 qualified PFM personnel and majority of whom are Certified Public Accountants and Certified Accounting Technicians working across various domains such as auditing – internal and external; finance and accounting; budgeting and revenue management within the next fifteen (15) years. This would mean having at least 2,463 certified accountants within five years. The number could be bigger if we include other financial services staff needed in the private sector. In this regard, it is therefore through partnerships with training providers where this ambitious goal can be achieved.

The University of Kibungo and iCPAR plans to start this initiative with an annual sponsorship program of 240 students, who are willing to pursue CPA qualification and also to attract more students to join the professional qualification. This initiative will also include recognition of students who obtain high performance marks and then every year UNIK shall be sponsoring 200 students.

iCPAR has existing partnerships with the Rwanda - College of business (UR-CBE), University of Kigali (UoK) and Kigali Institute of Management (KIM) among training institutes and other higher learning institution. iCPAR will also continue seeking further partnerships with reputable institutions in line with its mandate. These partnership arrangements are aimed at strengthening the accountancy profession and increasing the number of professional accountants to respond to the labour market needs.