Policymakers, representatives from the academia, the profession, regulators, business community, as well as development partners, met in Pristina on July 5, 2017 with a view to building consensus on, and facilitating in-county accountancy education reforms.
Based on the findings of the EU-REPARIS Regional “Accountancy Education Benchmarking Study”, this workshop hosted panel discussions and working groups that reviewed practical approaches how in-country accountancy education reforms should be shaped. The discussions focused on solutions how the collaboration between university, professional associations and business community can be enhanced while developing relevant education programs for competent accounting and auditing workforce.
The Deputy Minister of Finance, Mr. Agim Krasniqi, welcomed participants and looked forward to a discussion focused on how to use the findings of the Regional Study to improve the competence of professional accountants nationally, considering their significant relevance while supporting private sector enterprises produce reliable and credible financial information.
Pristina - Achieving Excellence in Accountancy Education: Sharing Good Practices and Opportunities for Reform
Key Outcomes of the Workshop
The key suggested actions, organized under thematic areas, that were discussed during the panel sessions and working groups include the following:
- Professional Accountancy Education challenges in Kosovo are not just challenges of the professional education providers, but also challenges of the Kosovo Financial Standards Council (KFRC). The KFRC has a wide legal mandate, including being the designated standard-setter for accounting, auditing, ethics and professional audit education, regulator, and enforcer. Ongoing amendments the legislation are required to be adopted as soon as possible in order to enable implementation of a sustainable Public Oversight and Quality Assurance system necessary to ensure appropriate audit and financial reporting in Kosovo.
- Professional Accountancy Organizations in Kosovo are required to develop internationally accredited and recognized education programs aligned with International Education Standards. Achieving full membership with the International Federation of Accountants (IFAC) is an expectation and requirement from all licensed and regulated Professional Accountancy Organizations in Kosovo.
- More emphasis on Ethics education is required at both university and professional levels. Professional ethics is at the core of the accountancy profession and practitioners must act in line with the Code of Ethics so as to maintain the trust and confidence of their clients and also to protect the public interest which is fundamental to the profession.
- Continuing Professional Development (CPD), and practical experience, are important aspects of accountancy education which require further strengthening and development.
- At both university and professional levels, education in soft skills and IT related capacities should be enhanced.
- National Accountancy Bodies should explore ways to enhance their regional cooperation, especially in the area of education and professional development. Integrating better with other regional professional bodies would aid to accelerate the development of the accountancy profession in the Western Balkans and strengthen the regional profession voice within Europe and globally.
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