In a landmark event for Somaliland’s financial sector, Vice President H.E. Mohamed Ali Aw. Abdi officially inaugurated the headquarters of the Somaliland Institute of Certified Public Accountants (ICPAS) at the Ambassador Hotel in Hargeisa. The ceremony also marked the launch of the Certified Public Accountant (CPA) program, developed in collaboration with the Institute of Certified Public Accountants of Rwanda (ICPAR).
ICPAS, the national body for professional accountants, is set to elevate Somaliland’s accounting standards by offering qualifications including Certified Accounting and Tax Technician (CATT), Professional Certificate in Accountancy Foundations (CAF), Certified Public Accountant (CPA), and Continuous Professional Development (CPD). The CPA program, aimed at graduates with degrees in accounting, business, economics, or related fields, can be completed in 4 to 9 months. Exams, requiring a minimum 50% pass mark, are held quarterly in March, June, September, and December.
Supported by equipment from the Somaliland Ministry of Finance and Economic Development, the new ICPAS headquarters symbolizes the government’s commitment to strengthening the nation’s financial infrastructure. ICPAS is actively forging international partnerships, including with ICPAR Rwanda, to secure global recognition for its qualifications through the International Federation of Accountants (IFAC).
The establishment of ICPAS and its programs is expected to significantly enhance accounting expertise across Somaliland’s government, private sector, and broader economy. By equipping professionals with skills, ICPAS aims to drive economic growth, improve trade, and boost government revenue.
A delegation from ICPAR Rwanda attended the event, underscoring the growing collaboration between the two institutes. As Somaliland invests in its accounting profession, the initiative promises to transform the labor market and contribute to sustainable economic development.