Africa-Press – Gambia. The Gambia Auditing, Accounting, and Corporate Governance Standards Committee (GAACGSC) recently paid a courtesy visit to President Adama Barrow at the State House in Banjul. The delegation took the opportunity to formally introduce the committee and reaffirm its commitment to advancing national priorities in financial reporting, auditing, and accounting.
The committee is mandated to promote transparency, accountability, and good governance in financial reporting. Its work is expected to strengthen The Gambia’s financial reporting framework, aligning it with international best practices.
During the meeting, Committee Chairman Essa A.K. Drammeh highlighted that the body was established under the Financial Reporting Act of 2013, describing its formation as a significant step toward harmonizing the country’s financial systems with global standards in auditing, accounting, and corporate governance.
“Today we are here to pay our respect to the President, to inform him about the creation of the new body and that work has started, and to give our assurance for our commitment to ensuring that national priorities in financial reporting, auditing, and accounting are enhanced,” Mr. Drammeh stated.
He emphasized that The Gambia, as part of the global community, is moving toward adopting international standards in financial governance. “It is against this backdrop that the government enacted the Financial Reporting Act,” he noted.
Mr. Drammeh further underscored that the committee’s work will help build trust among citizens and international partners, positioning The Gambia as an attractive destination for investment.
The committee is tasked with adopting, issuing, and maintaining financial reporting, auditing, and quality management standards across both the public and private sectors. This includes the application of International Financial Reporting Standards (IFRS), including standards specifically designed for Small and Medium Enterprises (SMEs).
In addition, GAACGSC will provide practical implementation guidelines and collaborate with regional and international regulatory institutions to reinforce corporate governance practices nationwide.
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