Forum for Finance Leaders
The CFO Forum Ethiopia was held in Addis Ababa with the purpose of creating a platform for finance professionals and stakeholders. Organized by the local consulting firm HST and the Association of Chartered Certified Accountants (ACCA) Ethiopia, this year’s them was “Ethiopia’s International Financial Reporting Standards (IFRS) Adoption. The journey to-date and the way forward.”
HST presented the major factors making Ethiopia’s IFRS implementation difficult and these included the shortage of appropriate experts and expertise, inadequate regulation, shortage of appropriate training and education systems, lack of support by company owners and other stake holders, and the high cost of implementation.
Ethiopia has chosen to fully adopt IFRS and is now amongst approximately 120 nations to have done so.