Addis Ababa, Ethiopia – The Federal General Auditor Gemechu Dubissa said new audit law is in pipeline.
Speaking at a discussion forum organized Wednesday by Associations of Chartered Certified Accountants (ACCA) under the theme Accountants for Business the General Auditor said the legislation process is forwarding.
He said the existing audit law is obligatory for only few business organizations but not others while they transact huge capital.
Gemechu said government’s follow up in this regard is not satisfactory.
The General Auditor said the new law will devise a mechanism for business organizations for auditing.
He urged Chartered Certified Accountants to instill international practices and standards of accounting.
ACCA Country Manager, Hikmet Abdella on her part said the meeting aims at assessing new changes in the field following the global crisis.