SA, Nigeria sign accounting agreement
22 January 2013
The South African Institute of Professional Accountants (SAIPA) has signed a
memorandum of understanding with the Council for the Association of National
Accountants of Nigeria to facilitate cooperation and allow members to work in both
countries, the institute announced last week.
The memorandum allows members of the one organisation to become members
of the other, which will enable South African accountants to work in Nigeria and
Nigerian accountants to practice in South Africa.
"Nigeria's business environment is in strong growth mode, and so offers the South
African professional accountant a great new market in which to operate," the
institute's chief executive officer, Shahied Daniels, said in a statement.
"We look forward to working closely with our Nigerian colleagues to build a reliable
standards framework that will support bilateral trade and business."
Nigeria is Africa's most populous country and
has emerged as a key trading partner
for South Africa.
Nigeria has been recognised as one of the fastest growing economies in the world
since 2001 and its gross domestic product is believed to average 6.8% until 2015,
according to SAIPA.
Trade volumes between the two countries also increased to US$30-million in 2012.
"Africa is steadily building a business-friendly environment that is attractive to
international investors and promotes intra-regional trade," said chief executive of the
Council for the Association of National Accountants of Nigeria, Terkaa Gemade.
"This link between two leading professional accountancy bodies in Africa's two most
important economies is an important step in building that environment and offers
potential to the members of both organisations."
SAinfo reporter
The port city of Lagos, the most populous city in Nigeria (Photo: Wikimedia Commons)
