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Audit Professionals Must Enhance Knowledge and Embrace Technology to Stay Competitive in Global Market
Addis Ababa; March 11/2025 (EBA) – The Ethiopian Accounting and Auditing Board has emphasized the importance for audit professionals to continually enhance their professional knowledge and embrace technological advancements to remain competitive in the global marketplace.
In a recent discussion forum organized by the Association of External Auditors in collaboration with Caseware Africa, a spotlight was placed on the integration of technology in auditing and financial reporting. The forum, attended by certified accountants and auditors, provided insights into technological systems that are shaping the future of the industry worldwide.
The Acting Director General of the Ethiopian Accounting and Auditing Board, Fiqadu Agonafer, highlighted the board’s commitment to promoting professional ethics and independence within the auditing field. He explained that the board is focused on ensuring the submission of high-quality and standardized financial reports from reporting entities, while also fostering accountability within the sector.
Mr. Fikadu further noted that continuous professional development training is being prioritized to enhance the competitiveness of professionals, ensuring they provide top-quality services. He shared that the board had expanded the types of licenses granted, following amendments to the licensing guidelines, and that a regulation, approved by the board of directors, has been submitted to the Ministry of Justice for further action.
In addition, he emphasized the board's efforts in safeguarding the public interest, alongside an increased focus on using technology to improve professionals’ knowledge and skills. He urged audit professionals to keep up with global trends by increasing their technological competency.
Daniel Getaneh, the President of the Association of External Auditors, shared that the association comprises over 130 certified audit firms. He discussed the ongoing efforts to implement various technological systems in financial reporting, with plans to further expand technology usage in the auditing sector. Mr. Daniel stressed the importance of using technology to ensure that audit reports are accurate and reliable, and he called on professionals to update their financial systems to align with global standards.
The forum also underscored the need for continued awareness and training on foreign software, with the Association working alongside partners to expand the use of advanced technological tools in the audit field. According to Getaneh, similar activities focusing on technology integration in auditing will continue to be organized to further strengthen the sector.
Certified Accountant Zebiba Alina and Certified Auditor Habtamu Tesfaye, who participated in the forum, expressed that while progress has been made in the use of technology in auditing, there is still much work to be done. They noted that the discussions helped them better understand the technologies available to modernize their work practices.
As Ethiopia continues to adapt to global standards in auditing, the ongoing collaboration between professionals, regulatory bodies, and technological partners is expected to drive significant improvements in the sector.
Reported by Ethiopian News Agency
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