By Aisha Tamba
Gambia Institute of Chartered Accountants (Gica) last week inducted members into its newly set up Financial Reporting Oversight Board (FROB).
The board is tasked to ensure activities undertaken by the institute are conducted in accordance with standards and other requirements set by International Federation of Accountants (IFAC) and its various organs.
Speaking at the induction ceremony, finance minister Mamburay Njie said Gica was enacted by the Financial Reporting Act 2013.
He said: “It is government’s collective desire to have a strong accountancy body in The Gambia that is results-oriented and evidence-based with its approaches.”
He said the contribution of professionals like accountants cannot be overemphasised in the implementation of the public financial management reforms in particular, and the national development plan 2018-2021 in general.
He added that Gica has been tasked by government to transform the accounting landscape in the country.
“The government through my ministry would strive towards the achievement of this goal, thus the enactment of financial reporting act,” minister Njie promised.
“The government will support Gica in all possible means to achieve its objectives but will also hold it accountable to its terms of reference as indicated in the act.”
He advised the new board and Gica to work to “execute duties and guide accountancy fraternity to higher heights.”