THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF RWANDA
The Institute of Certified Public Accountants of Rwanda (ICPAR) is the only Professional accountancy Organization (PAO) mandated by law number 11/2008 to regulate the Accounting profession in the Republic of Rwanda.
The Institute exists to serve public interest and has wide-ranging responsibilities including promotion and adherence to financial reporting, auditing and ethical standards.
The Institute has a responsibility for regulating and promoting efficient accounting practices in public interest.
iCPAR was admiited as an associate member of the International Federation of Accountants (IFAC) in 2012.
A strong, relevant and sustainable profession
To build a strong and engaged professional accountancy organization that anticipates stakeholder expectations and acts in the public interest
iCPAR is the only Professional Accountancy Organization (PAO) mandated by law to regulate the Accounting profession in Rwanda.
Why iCPAR was formed
Achieving Global Standards
A world bank report in 2008 revealed the following:
- Lack of a national professional accountancy body in rwanda.
- Except larger entities there is no access to professionally qualified accountants
- Most available accountants lack required skills to prepare financial statements in accordance with applicable standards.
- The accounting curricula did not focus on ifrss and isas in higher education accounting degree programs.
- Professionals in small accountancy firms found it difficult to stay updated on recent developments in accounting and auditing.
This report provided a basis from which iCPAR formed its mandate & objectives.
Aligning to Vision 2020
Vision 2020 seeks to achieve skilled labour force for Rwanda. This is a key driver for economic development.
The iCPAR qualification programs therefore are a direct contribution to realisation of this objective.
The accountancy profession will further use its expertise to stimulate national growth through not only qualifying highly productive graduates but use this as an avenue to attract more investors by providing quality advice and support to the business community as a way to boost trade and investment.
National Vision 2020 attributes
- Good governance and a capable state.
- Human resource development and a knowledge based economy.
- A private sector-led economy.
- Infrastructure development.
- Productive and Market Oriented Agriculture.
- Regional and International Economic integration.
What we do
iCPAR's responsibilities are,
- To regulate the accountancy profession;
- To preserve the integrity of the accounting profession;
- To promote the competence and the capacities of its members;
- To provide to its members professional education in accounting and other related disciplines;
- To issue regulations for promoting the functioning of the Institute;
- To take disciplinary measures against members unable to perform their duties and guilty of misconduct;
- To promote and preserve the professional independence of its members while exercising their profession;
- To promote the common interests of its members;
- To advocate for members in the country and abroad;
- To promote the recognition of the Institute in the country and abroad;
- To issue and to promote the implementation of accounting and auditing standards in public organs and private sector;
- To provide advisory commentary on curricula for any accountancy courses;
- To develop teaching programmes, to organize examinations and to issue certificates in matters relating to accounting profession;
- To make contribution on bills relating to the accounting profession;
- To give advice to Government on matters relating to the accounting profession;
- To take appropriate measures enabling the Institute to perform its responsibilities;
- To issue licence of exercising the accounting profession to qualifying members requesting such license and to withdraw it in case of misconduct;
- To determine any other functions aiming at promoting the accounting profession;
- To promote membership of the Institute in IFAC;
The Institute is governed by the following organs:
The Institute affairs are managed by a secretariat headed by a Chief Executive. The Secretariat executes the Institute Policies with support from the following organs,
- 1. The General Assembly
- 2. The Governing Council
- 3. Technical Commissions
ICPAR Law & Bilaw
You can download the iCPAR Bi-Laws on below button
- iCPAR was established by law number 11 of 2008 to regulate the accountancy profession in Rwanda.
- Achieve Unrivalled Regulatory Excellence and Become a Globally Recognised Professional Accountancy Institute.
- To Empower Our Members and Partner With Stakeholders to Serve Public Interest Through Regulation of The Accountancy Profession in Rwanda.
- Responsibility to society
- iCPAR’s Origins are pillared on two key anchors. The Worldbank ROSC report, The passage of the Accountants Law No 11 of 06/05/2008. All the efforts leading to these milestones were driven by a group of Rwandans who believed and were convinced beyond doubt that time had come for the Accountancy Profession in Rwanda to stand up and be counted. We hope you enjoy reading the story of the journey of the accountancy profession in Rwanda.
The WB ROSC
- On 19th June 2008, the World Bank released the Rwanda Report on Observance of Standards and Codes- Accounting and Auditing (ROSC- A&A).
The report was an assessment of the corporate sector accounting, financial reporting, and auditing practices within Rwanda. It was benchmarked to International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) and drew on international experience and good practices to assess the strengths and weaknesses of the institutional underpinnings of corporate financial reporting and make policy recommendations. This assessment was mainly aimed at preparing a road map for institutional capacity building including development of the accountancy profession for bolstering the corporate sector accounting, financial reporting, and auditing in Rwanda. Please click here to read or download the ROSC report. It was a key driver and ingredient for the inevitable journey that was about to commence. It heralded actions towards establishing foundational mechanisms for executing the mandate granted to the accountancy profession by Law number 11 of 06/05/2008.
The iCPAR Law
- The law governing the accountancy profession in Rwanda, Law number 11 of 06/05/2008 was gazetted on 1st August 2008. The law gives clear direction, responsibilities and role of the Institute of Certified Public Accountants of Rwanda as well as guidance on how the Institute governs and conducts its business. Please click here to read the comprehensive iCPAR Law. We hasten to state that any country that hopes to solidly set up an Institute to govern the accountancy profession should prioritize establishment of the legal framework. This approach has paid huge dividend for iCPAR.
The Interim Governing Council (IGC)- 2008
- The Interim Governing Council (IGC) was appointed by the Minister of Finance and Economic Planning consistent with article 83 which requires him to appoint within one month of the publication of the law an IGC composed of nine members. Accordingly the Minister appointed the following as members of the IGC which successfully carried out its mandate as per the provisions of article 84 of the ICPAR law.
- 1.Evelyn Kamagaju Rutagwenda (Chair)
- 2.Gurmit Santok (Vice Chair).
- 3.Uwase Peace (Secretary).
- 4.Emmanuel Habineza (Member)
- 5.Peter Rutaremara ( Member)
- 6.Ntare Joy ( Member)
- 7.Daniel Zitunga( Member)
- 8.Fred Mujuni( Member).
- 9.Manasseh Twahirwa (Member)
- The IGC laid ground for the first AGM and election of the Governing Council in February 2009. Among other things, the IGC achieved the following
- Commencement of operationalisation of the law
- Registration of founding members numbering up to 101; 88 CPA, 3 CAT and 10 AA . The founding members were given provisional certificates which were later on ratified by the elected Governing Council.
- Invited the Minister who presided over the first General Assembly of the Institute.
- Organized elections for the first Governing Council of the Institute of Certified Public Accountants of Rwanda.
The First Elected Governing Council- February 2009
- The IGC organized the first Annual General meeting of the institute in February 2009 where the first elected Governing Council came into office. The members included the following
- Peter Rutaremara ( President)
- Francis Mugisha ( Vice President)
- Evelyne Kamagaju (Member)
- Emmanuel Habineza (Member)
- Peace Uwase ( Member, Served only for 4 months)
- Joy Ntare (Member)
- Josianne Manishimwe (Member)
- Patrick Mwebesa ( served for a short time)
- Fred Mujuni ( 2009 to 2010)/Patrick Shyaka (2010to date)- ( Accountant Generals Office)
- During this period, the institute realized a number of milestones including the following,
- a)Continued with Registration of members of the Institute..
- b)Entering into a tripartite agreement with; PSF, RRA and iCPAR.
- c)Licensing and publishing of ICPAR members to engage in public practice of Accountancy in Rwanda.
- d)Approving and publishing firm names whose partners were licensed to engage in public practice of accountancy in Rwanda.
- e)iCPAR members holding licenses were engaged by Rwanda Revenue Authority to audit financial statements of large tax payers in order to satisfy the requirement of accompanying all end of year tax returns with financial statements audited by a licensed member of
- f)Enlisting Government and Donor support to develop the profession.
- g)Hiring office space and obtaining donor funding for the same.
- h)Recruitment of a CEO to assist in setting up the secretariat
- i)Admission of iCPAR into the East, Central and Southern Africa Federation of Accountants ( ECSAFA)
- j)Representation of iCPAR at international accountants meetings such as the ECSAFA meetings and IASB trainings.
- k)Attending seminars organized by sister Institutes in East Africa and region and training of a few council members on IFRS.
- l)Signing of the first MOU with ICPAK Kenya for collaboration on various areas.
The Second Governing Council – March 2011
The second Governing Council came into office in March 2011. The following were elected to lead iCPAR.
- Peter Rutaremara ( President)
- Emmanuel Habineza ( Vice President)
- Bernice Kimacia (Member)
- Josiane Manishimwe (Member)
- Peace Uwase (Member)
- Senganda Sudadi (Member)
- Ronald Mutarindwa (Member)
- Obadiah Biraroh ( Auditor General)
- Patrick Shyaka (Accountant General)
- Dr Papias Malimba (Universities Representative)
The Institute achieved the following during this period;
- a)Admission into IFAC as an Associate
- b)Roll out of the CPA and Certified Accounting Technician (CAT) Syllabi
- c)Developed a 10 Year strategic plan for iCPAR
- d)Acquired offices, recruited staff and established the secretariat offices for iCPAR.
- e)Instituted the first ever monthly training ( CPD) events for iCPAR by releasing a calendar for the monthly event covering the whole year.
- f)Developed a business plan for iCPAR to drive financial sustainability
- g)Joined the Pan African Federation of Accountants (PAFA) as a founding member
- h)Successfully administered the first CPA and CAT Qualification Examinations in Rwanda ( December 2012)
- i)Signed the EAC Institutes of Accountants MRA in September 2011.
- j)Hosted the IFAC Committee meeting in January 2012
- k)Presented a paper at the IFAC Council Meeting in Cape town in November 2012
- l)Held the First recognition Ceremony for CPA and ACCA Finalists
- m)Signed MOUs with Ministry of Finance; CMA; Revenue Authority (RRA); RALGA – For collaboration in Nation Building.
- n)Held the First Annual Seminar of iCPAR
- o)Rolled out corporate branding strategy in 2012
- p)Established full fledged Commissions of the Institute
- q)Approved Bi-Laws to support regulation and implementation of the accountants’ Law
- r)Concluded a study on harmonization of laws-for adoption of accounting and auditing standards.
- s)Carried out wide awareness campaigns among the youthSecondary Schools and Universities that resulted in two Universities( KIM and SFB) start scholarship schemes of sponsoring own students to pursue technician and professional courses alongside their bachelors’ degrees.
- t)Resolved all cases applications for registration of membership of iCPAR in different categories.
- u)Launched the iCPAR Development / Building Fund.
The Third Governing Council – February 2013
This council comprised of the following members,
- a)Francis Mugisha ( President)
- b)Peace Uwase ( Vice President)
- c)Evelyne Kamagaju (Member)
- d)Bernice Kimacia (Member)
- e)John Ndunyu (Member)
- f)Vianney Kagabo (Member)
- g)Felicien Muvunyi (Member)
- h)Patrick Shyaka ( Accountant General)
- i)Obadiah Biraro/Patrick Habimana ( Auditor General’s Office)
- j)Dr Papias Malimba (Universities Representative)
The Institute has achieved the following during this period,
- a)Continued to sustain the gains made earlier
- b)Establishment of additional non statutory committees to enahce realization of the objectives and mission of iCPAR.
- c)Continued to admit members into the Institute
- d)Won the Court Case filed against the Institute by a member of the public seeking membership.
- e)Joining of the Board of Directors of PAFA
The Secretariat came into place with the recruitment of the First CEO and staff. CPA Evans Mulera, the First CEO of iCPAR Secretariat was recruited in November 2010 through financial support from the Government of Rwanda and Development partners. In February 2011, Chantal Umutesi, become the first member of staff to be recruited to support the CEO in rolling out programs at the Institute.
Thereafter other employees joined the secretariat as shown below. Please note that at the time of uploading the iCPAR history, some staff were still working on their profiles and these will be uploaded in future once they avail them.
1.CPA Evans Mulera (First CEO, iCPAR)- November 2010 to November 2013
First CEO, iCPAR, (www.icparwanda.com). Served as Board Member, Kenyatta University Pension Board. IFRS and IPSAS Specialist & Trainer. Balanced Scorecard (BSC) Trainer& Specialist. Established the First Secretariat for The Accountancy Profession In Rwanda. Helped iCPAR Admission into the International Federation of Accountants (IFAC) Within Less Than Two (2) Years Since Establishing Secretariat. Employed BSC Techniques to Fast Track iCPAR’s Growth. Served as Deputy CEO and Director, Professional Services at ICPAK, Kenya. Served as Chairman of the National Financial Reporting (FiRe) Awards Technical and Evaluation Committee, Nairobi, Kenya. Evans is a staff recruitment and performance management Consultant. He has delivered Presentations/papers at International Federation of Accountants (IFAC), Pan African Federation of Accountants (PAFA) and Other International Fora on Public Financial Management (PFM);Evans has taught Financial Management& Accounting at various Universities in Kenya including Kenyatta University, Catholic University& Daystar University. He concluded a research paper on cash balance management leading to a Masters of Business Administration degree in Finance.
2.Chantal Umutesi – ( Examinations Officer)- February 2011 to date.
Marie Chantal UMUTESI, is currently working as an associate examinations manager at iCPAR having previously served as the Administrative Officer and examination officer. She holds a bachelors degree in Economics, Master’s in International Relations and Humanitarian Aid and Masters in Economics she is pursuing CPA. She joined the institute on the 14th February 2011 as the first secretariat staff after the CEO. She multi-tasked in this role overseeing running of all functions at the secretariat including coordinating meetings, holding the monthly seminars including the first annual seminar in March 2011. She is hardworking with a clear, logical mind with a practical approach to problem solving and a drive to see things through to completion. She has a great eye for detail, eager to learn, enjoys overcoming challenges, and She has a genuine interest in Accounting professionalism and the business career in general. .
3.Agness Munyaburanga ( Office Assistant)- March 2011 to date
4.Jackson Ogalo – (Capacity Building & Training)- July 2011 to 31st October 2014
Mr. Ogallo holds a Master of Business administration degree having previously earned a Bachelors degree in Commerce, Accounting Option. He is currently pursuing the CPA Course. Jackson is the current head of Business Development & Capacity Building at the Institute (iCPAR) since July 2011. In November 2011, Jackson developed and published the first ever iCPAR monthly CPD Calendar in line with the IFAC SMO 2 requirements, which has been embraced in the subsequent years. Jackson has proactively pioneered the financial sustainability strategic goal through innovative Continuous Professional Development & Capacity Building Programs that continue to contribute significantly to the financial base/growth of iCPAR. He founded, developed and implemented a successful in-house capacity building training program that has become a culture for the iCPAR Secretariat. On the business development side, Jackson has shown leadership and spearheaded the enforcement of strategic mutual collaboration with key stakeholders. Mr. Ogallo has previously worked as the Officer, Training & Development with an accountancy Institute as well as Director Professional Training & Standards with a rapidly growing firm in the East Africa Region.
5.CPA Olive Mukankwaya ( Compliance& Registration) – July 2011 to 30th June 2014
6.CPA Ambrose Nzamalu ( Professional Standards) – July 2011 to date
Ambrose joined ICPAR in July 2011 as the Head of Professional standards department with an additional role of coordinating the Examination department. Ambrose is a CPA and has been in the accountancy field since 2004. He holds an MBA and is a PhD candidate.
Ambrose has practiced accountancy in Kenya, Uganda and Rwanda culminating to being partner GIZ Certified Accountants Uganda and ITAU Auditors Rwanda. Ambrose has over 10 year’s progressive experience in lecturing Accounting courses having taught since inception at the School of Finance and Banking, currently University of Rwanda College of Business and Economics.
At professional standards department, Ambrose has researched and responded to various IFRS exposure drafts issued by IASB and IFAC, and has acquainted members on all new development in the financial reporting. In conjunction with the Business development & training department, Ambrose has variously facilitated at monthly CPD events.
At the Examination department Ambrose worked with CPA Ireland World Bank consultants who provided twinning arrangements for the development of CPA Rwanda qualification framework which culminated to the launch of the syllabus in May 2012. After launch, Ambrose successfully coordinated the running of the first CPA Rwanda Examination in December 2012, second sitting June 2013.
7.Georgette Giramahoro ( PR& Communication) – July 2011 to date
8.CPA HAKIZIMANA Jean Damascene joined iCPAR from March 1, 2012 to 31 March 2014
He graduated in 2006 From School of Finance and Banking (SFB) with a Bachelor Degree in Business Administration, Finance option. He qualified as an ACCA in December 2012. Upon Joining iCPAR, he spend the time in developing the Finance and Administration department from a start. His role is Planning and overseeing strategic plan implementation, human resources management, financial and management reporting and developing internal controls which safeguard the Institute resources.
9.Jean Mucyo ( Deputy – (Capacity Building& Training) – September 2012 to date
10.Olivier Nshizirungu ( ICT) – September 2012 to date
NSHIZIRUNGU Olivier is a Computer Scientist with Over 4years experience in IT related fields. He is the current and first CIO (Chief ICT Officer) at iCPAR having joined iCPAR on 3rd September 2012.
His previous employment was with TIGO Rwanda and Cellular Services Technology as a Data Support Engineer,ICT trainer and Software Engineer respectively from January 2008-August 2012. He worked with various modern technologies such as Java,C,C#,C++,php,ASP.Net,VB,Python and Perl Programming languages, RDBMS such SQL Server 2008 r2,Oracle 11g and MySql and in system administration He have worked on windows server 2008 r2, 2012. He is excited to learn new technologies and languages in addition to enhance the growth of his career as an individual and for the innovation of ICT at iCPAR.
11.CPA John Munga ( Deputy CEO) – January 2013 to date
12.Kweli Francis ( Deputy Finance &Administration)- February 2013 to date
Francis Kweli is a competent, decisive and self motivated person, with a good team work spirit. He holds bachelor’s degree from school of finance and banking in Business Administration and specialized in Accounting, he is also pursuing CPA qualification and he is on the final part (section five and six). He got involved in student leadership at the School of Finance and Banking for one year and this gave him a good leadership experience. He Possess excellent management (accounting) and communication skills.
He is currently a Deputy Finance and Administration officer at Institute of Certified Public Accountants of Rwanda (iCPAR) where he has achieved a lot including the following:
Petty cash management, management of staff payroll, accounting and filling all statutory deductions, management of expenses and incomes among others.
He is very adaptive and when given an opportunity, he can add value to any organization.
13.CPA Georgie Iradukunda ( Senior Examinations Officer) – August 2013 to July 2016
CPA IRADUKUNDA GEORGIE is a Senior Examinations Officer at iCPAR since August 2013. Her responsibilities include overseeing the conduct of iCPAR' s examinations. She is ACCA affiliate and member of the iCPAR. She is holder of a Bachelor's Degree in Management. Her previous experience include internal audit , Tax and finance.
iCPAR staff have played a key role in ensuring that regulation of the accountancy profession and compliance with IFAC Statements of Member Obligations (SMOs) are adhered to. The rapid growth of the Institute has necessitated the need to recruit additional, qualified staff to support areas such as Quality Assurance; Professional Standards, Examinations among other things. Updates will be provided as these recruitments take place in line with iCPAR’s strategic plan and human resources forecasts.
iCPAR has signed a number of agreements to foster partnerships that are beneficial to its growth. Below is a summary of the agreements signed in the course of iCPAR’s history.
- 1.MOU- ICPAK: This was the first MOU signed in December 2009. Its objective was to enable iCPAR get support on a number of regulatory issues by having a technical exchange arrangement with ICPAK Kenya.
- 2.MRA- EACIA: The Mutual Recognition Agreement was signed in September 2011 to foster collaboration and ease of movement of professional accountants in the EAC region. Implementation of the MRA is on course.
- 3.MOUs- National Stakeholders- MINECOFIN, RALGA, CMA, RRA: These MOUs have enabled iCPAR to support capacity building in these institutions. This has saved these institutions a cash as iCPAR programs are affordable and of very high quality. In return, iCPAR has benefited by strengthening its financial base through revenue generation. This is one of the initiatives to ensure that iCPAR becomes financially self reliant.
iCPAR is recognized by various regional and international institutions. These include,
- 1.EACIA Membership- September 2011: This body enables iCPAR qualified graduates to register in any East African Institute without the need to sit local qualifying exams.
- 2.PAFA Membership- May 2012: This is an African wide body for Accountants in Africa. iCPAR is a founding member of PAFA> PAFA was established in May 2012 in Dakar Senegal.
- 3.IFAC Membership- November 2012: iCPAR was admitted into IFAC in November 2012. By joining IFAC, iCPAR benefits in the following ways: a) Global recognition b) Our members admissible into other Institutes c) Recognized contributor to growth of the global accountancy profession d) iCPAR attractive to students and other clients as we are recognized and regulated by the global body for accountants e) Easier to negotiate mutual recognition agreements with other institutions f) Value to our members for the subscriptions they pay g) Serve Public Standards by committing to Best practices.
Membership growth has been slow. The figures below represent membership as at 12th August 2015.
- CPA: 339 Members
- CAT: 14 Members
- Practitioners: 77 Practitioners
- Students: 700 CPA students
- Students: 180 CAT Students
Regulatory Mandate, Products and Services
iCPAR Runs CPA and CAT Examinations. Information and details of the programs can be accessed from the iCPAR website- www.icparwanda.com . The syllabi are a product of research and careful benchmarking against globally recognised qualifications. The International Federation of Accountants (IFAC) International Education Standards for Accountants (IESs) were taken in to account in its development. CPA Ireland (CPA I) played a leading role as lead consultants in its development. With more than 70 years of regulation of and examining of accountants in Ireland, CPA I was an appropriate and ideal partner to work with. This qualification is therefore internationally benchmarked to ensure global recognition and marketability of CPA (R) qualification holders. It is also regionally relevant as input was sought from East Africa Community Institutes. The first examinations were done in December 2012. Thereafter exams have been held every June and December.
Capacity Building and the CPD Calendar
iCPAR runs monthly training seminars for professional accountants. These have been running since January 2011. The growth has been phenomenal following the recruitment of Jackson Ogallo as the head of this unit. Please visit the iCPAR website to view the programs that have been lined up for the period ahead.
The professional standards supports the Inspection committee in ensuring compliance with professional standards. The department has been active in commenting of IASB and IFAC exposure drafts. iCPAR runs seminars on financial reporting and this has helped improve levels of compliance. Further, the secretariat has for the past three years mobilized Rwandan corporations and public sector organizations to take part in the Financial Reporting (FiRe) Award with a view to using this as a tool to encourage compliance with international reporting standards. iCPAR is keen do develop an edge in Public Financial Management by rolling out short courses targeting senior six graduates and public sector employees.
Professional Ethics and Disciplinary Mechanisms
The Institute has a strong Disciplinary commission which executes its mandate consistent with the accountants’ law as well as the professional code of ethics promulgated by the International federation of accountants.
Committees of iCPAR
iCPAR has committees that work to realize its mandate. Please see below the current membership in committees and the secretariat support structure.
|Members of Committee
||Directly Responsible Staff
|All Council Members
||John MUNGA, (Secretary General) – firstname.lastname@example.org
|Felicien Muvunyi, Florence Gatome, Boniface Mutua, Cissy Uwamahoro
||Ambrose Nzamalu, (Professional Standards Officer) - email@example.com
| Francis Mugisha, Lindsay Hodgson, Emmanuel Tchoukou, Amin Miramago, Prof. Rama Rao, Rose Mukabantana
||Education, Curriculum& Examinations Committee
||1.Umutesi Marie Chantal- Exams, (Examinations Manager) firstname.lastname@example.org
|Mkombozi Karake (Chair), John Ndunyu, Evelyn Kamagaju, Stephen Muchiri, Gus Murangira, Christian Rugeri
||John MUNGA, (Secretary General) email@example.com
Non Statutory Committees
||Directly Responsible Staff
|Felicien Muvunyi (Chair), Evelyn Kamagaju
||Member Services and Outreach Programs
||Georgette Giramahoro, ( Marketing, Communication& PR Officer) firstname.lastname@example.org
|Patrick Habimana (Chair), John Ndunyu
||Audit & Risk Committee
||KWELI Francis, ( Senior Finance Manager) email@example.com
| Peace Uwase, Cherno Gaye
||Planning, Strategy &Resource Mobilization Committee
||John Munga, (Secretary General) firstname.lastname@example.org
||Human Resource Committee