Mutual recognition opens the door for Namibian Chartered Accountants to seven jurisdictions

A recognition agreement between the Institute of Chartered Accountants of Namibia and its South African counterpart, the SA Institute of Chartered Accountants, has effectively opened the door for fast-tracked Namibian chartered accountants to practise in South Africa, and from there, in seven other countries across the globe.

The chairman of the Namibian institute, Jacobus de la Rey du Toit, in the picture centre right, indicated that the so-called Recognition of Mutual Agreements (RMA) provides Namibian chartered accountant the opportunity to obtain membership in the South African institute which is internationally regarded as a highly credible professional body.

“At the same time, achieving mutual recognition with SAICA gives ICAN increased confidence that the CA(NAM) designation meets the highest quality and competence benchmarks” added du Toit.

One of the key attractions of accountancy as a global profession is that practitioners can work anywhere in the world and the South African Institute of Chartered Accountants said it has seen a steady growth in the number of chartered accountants practising outside South Africa.

To make it easier for its members to do so, SAICA has Recognition of Mutual Agreements (RMAs) in place with several accountancy bodies around the world, and now also with the Insitute of Chartered Accountants of Namibia.

According to Mandi Olivier, Senior Executive: Professional Development, the importance of these RMAs cannot be understated. ‘SAICA is delighted to have entered into a RMA with ICAN. It provides CAs(SA) with better opportunities and credibility when working with or for organisations in Namibia, and we believe it will also enhance the existing good relations and cooperation between the two institutes, so that together we can accelerate the development of the accounting profession.’

The Mutual Recognition works in both directions, opening the door for Namibian chartered accountants to work in South Africa. Once a member of SAICA, Namibian Chartered Accountants will enjoy access to the United Kingdom, New Zealand, Australia, Canada, Hong Kong, Ireland and Zimbabwe.