The accounting profession is ready to position itself for relevance in the digital age, governance, and sustainability.
Auditor General Junias Kandjeke made this remark at the opening of the National Accounting Summit in Windhoek on Thursday.
The summit will provide a new perspective for the accounting profession to position itself in the digital world.
During the summit, delegates will discuss how to adapt to the use of tools and the advancement of technology.
The summit serves as a beacon of hope for the accounting profession by making sure they are fit for future technology.
Kandjeke says that Namibia is facing a shortage of auditors due to a number of issues, including retirement and shifting skills, among others.
''This is unfortunate—the harsh reality that we are facing today. Although the registered numbers have remained steady over the past five years, the threads relate to the declining interest of the auditing profession. The Public Accountants and Authors Board currently has 112 registered auditors in the country. For a country with a population of about 2,7 million, this represents an auditor per capital of one auditor for 24 thousand citizens.''
He says that there have not been many changes to the regulatory environment for the auditing profession in recent years.
However, he says that it is very vital that the government seek to ensure that the profession continues to deliver high-quality services and contributes to economic growth.
The summit will discuss the new language of business and the latest trends in technology to assist those in the accounting profession, as well as deliberate on the use of AI in financial reporting.
Additionally, the summit will allow delegates to share knowledge on how to shape the Namibian economy in a changing world.
The president of the Institute of Chartered Accountants of Namibia, Samuel Ndahangwapo, reminded the delegates that the profession is not just about money but about transparency and honesty.
Ndahangwapo says that the summit symbolises a vital role for the accounting profession.
The Deputy Minister of Finance for Public Enterprise, Maureen Hinda-Mbuende, highlighted the role of the accounting profession in delivering public services through public-private partnerships.
''Africa, and mostly specifically in Namibia, PPS have been found mostly in the infrastructure sector, which is increasingly sought after for a wider session objective. For example, PP Namibia is limited but includes waste water, water reclamation, and student and office accommodation. Unfortunately, the reality is that there is still a degree of systemic private sector involvement in public service, specifically with concerns over how employment could be affected and how a lack of gender empowerment could be incorporated into such schemes.'
She urged those in the accounting profession to have integrity and to have personal discipline.