Business and managerial institutions in Rwanda are looking forward to professionalising Accountancy through subscribing to the Institute of Certified Public Accountants of Rwanda (ICPAR). By joining ICPAR, the students qualify to sit for Certified Accounting Technicians (CAT) examinations to achieve unrivalled regulatory excellence that is globally recognised. ICPAR is the only body authorised to certify public accountants in Rwanda. In a bid to improve the quality of accountants in Rwanda, Kigali Institute of Management (KIM) has since 2012 been paying for first year students to sit for the exams twice a year. Peter Rutaremara, the managing partner RUMA Certified Public Accountants, said Rwanda needs more professional accountants “who will drive the financial sector.” He added that Rwanda currently has a shortage of professional accountants unlike Kenya and Uganda which have over 7,000 combined. According to him, the shortage of certified accountants in the country has been exploited by those from other countries. “With this arrangement, however, nationals will have the opportunity to run the financial sector. That is our priority,” Rutaremara noted, adding that it will also reduce the number of Rwandans going to foreign countries to pursue the course.
