{"id":29827,"date":"2022-11-20T07:37:17","date_gmt":"2022-11-20T07:37:17","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/suspended-audit-firms-can-appeal-says-regulator"},"modified":"2022-11-20T07:58:45","modified_gmt":"2022-11-20T07:58:45","slug":"suspended-audit-firms-can-appeal-says-regulator","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator","title":{"rendered":"Suspended audit firms can appeal, says regulator"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>There is room to appeal for audit firms that are currently facing sanctions over failing to attain the necessary audit quality, The New Times has established.<\/p>\n

A total of 23 firms risk a six-month suspension, following an audit quality assurance test that found cases of non-compliance with the auditing standards on fundamental and basic audit procedures.<\/p>\n

Speaking to The New Times in an exclusive interview, Amin Mirimago, Chief Executive at Institute of Certified Public Account of Rwanda, also the country\u2019s accountancy watchdog, said that the results were not \u201cfinal,\u201d adding that disciplinary action is ongoing.<\/p>\n

\u201cDisciplinary action is ongoing, it is a preliminary list and the final list will be published mid next month.\u201d<\/p>\n

Mirimago said that ICPAR\u2019s disciplinary proceedings are required by law to be kept confidential, until the final decision.<\/p>\n

\u201cWe also allow for appealing the decision, and we have so far received a number of them.\u201d<\/p>\n

Pressed for details, he reiterated that each firm will be handled \u201ccase by case.\u201d<\/p>\n

\u201cThe impact is irreversible really, that is why we are looking to avoid similar situations in the future,\u201d he added.<\/p>\n

Mirimago did not disclose the number of firms that appealed.<\/p>\n

However, he said that this year\u2019s numbers were alarming, given that only eight firms were sanctioned in the previous assessment.<\/p>\n

Rwanda\u2019s accountancy profession was born around 2008 when the law establishing ICPAR was promulgated. After only about 12 years, the profession has made tremendous milestones.<\/p>\n

For instance, in 2009, the initial members who registered with ICPAR were around 98, but as of 2020, the institute counted up to 700 members.<\/p>\n

In 2012, ICPAR had about 165 students when it was starting the Certified Public Accounting (CPA) and Certified Accounting Technician (CAT) programs, and by 2020, the institute boasted about 4,500 students.<\/p>\n

An economy like Rwanda, according to him, needs around 10,000 certified public accountants and certified accounting technicians.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. There is room to appeal for audit firms that are currently facing sanctions over failing to attain the necessary audit quality, The New Times has established. A total of 23 firms risk a six-month suspension, following an audit quality assurance test that found cases of non-compliance with the auditing standards on fundamental […]<\/p>\n","protected":false},"author":84,"featured_media":29826,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[760,763,758],"class_list":["post-29827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nSuspended audit firms can appeal, says regulator - Rwanda<\/title>\n<meta name=\"description\" content=\"There is room to appeal for audit firms that are currently facing sanctions over failing to attain the necessary audit q ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suspended audit firms can appeal, says regulator\" \/>\n<meta property=\"og:description\" content=\"There is room to appeal for audit firms that are currently facing sanctions over failing to attain the necessary audit q ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-20T07:37:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-20T07:58:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2022\/11\/postQueueImg_1668917249.03.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"668\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Suspended audit firms can appeal, says regulator\",\"datePublished\":\"2022-11-20T07:37:17+00:00\",\"dateModified\":\"2022-11-20T07:58:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\"},\"wordCount\":322,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2022\/11\/postQueueImg_1668917249.03.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/policy\/suspended-audit-firms-can-appeal-says-regulator\",\"name\":\"Suspended audit firms can appeal, says regulator - 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