Firm Foundations

In my last blog, I wrote about the part the ICAEW Foundation plays in changing lives around the world - helping young people who face financial difficulties to begin a professional career.

It's one way in which we bring our ambition to help build a world of strong economies to life. But there are others that you may not be aware of.

At the heart of our ambition is the belief that for there to be a strong economy, there must be a strong accountancy profession, committed to high standards of professionalism and ethics.

Over the past eleven years, ICAEW has undertaken more than 50 capacity building projects in 29 countries, bringing our expertise in regulation, education and training to bear through ventures funded by donor agencies. Our aim is to help strengthen the professional organisations we work with, making them sustainable for the long term and able to grow and evolve independently, putting in place firm foundations on which to build.

We have carried out this work across Europe, Africa, the Middle East, South Asia and South East Asia.

Since 2015 for example, we've been working on a project funded by the Asian Development Bank, to strengthen financial management in Asia and the Pacific.

We've also been working closely with the Institute of Chartered Accountants in Ghana (ICAG) since 2011. Our first project there, funded by the World Bank, focused on upgrading the ICAG professional qualification and strengthening the quality of audit and the monitoring of audit firms. Through subsequent projects, via the International Federation of Accountants (IFAC) accountancy capacity building program, and with funding provided by the UK Department for International Development (DFID), we are continuing to strengthen education, training and examinations in the country.

The practical significance of this work was brought home to me recently when I welcomed colleagues from the Institute of Chartered Accountants of Nepal (ICAN) to One Moorgate Place. The work that our capacity building team, Quality Assurance Directorate and Learning and Professional Development Directorate are doing in Nepal is making a real difference. There was a clear sense of shared purpose, enthusiasm, commitment and mutual respect.

If you would like to know more about our capacity building work, you can find a wealth of information and a short video here. I think you'll be impressed by what you see.

Our Royal Charter requires us to act in the public interest and through our capacity building work we do that on a global scale.

The next time you see the line “a world of strong economies”, on a poster at an ICAEW event, you''ill know that behind those words, there are many initiatives that are changing lives and helping to deliver our vision. Initiatives of which we can all be proud.

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