• Register
Return to: Home > News > Mid Tier > Burundi: local firms beneficiate from a small market and language barrier

Burundi: local firms beneficiate from a small market and language barrier

Pailles, Mauritius/London. The president of Burundi's accountancy professional body, Frederic Gahungu, told International Accounting Bulletin that local firms thrive thanks to the small size of the market and language differences in the region.

Gahungu, who heads the Ordre des Professionnels Comptables du Burundi (OPC) met with International Accounting Bulletin at the African Congress of Accountants (ACOA15) in Mauritius.

He said that some of the international accounting organisations have established a presence in Burundi, like Deloitte which set up an office there at the beginning of 2015. But most of them still operate in Burundi from the neighbouring East African countries, according to him.

However he said this is beneficial for the 16 to 20 local Burundian firms. "Because Burundi is the only French speaking country in the East African Community, when auditors come from the neighbouring countries, they partner with the local firms to overcome the language barrier," Gahungu said.

Equally when the local firms are approached by large clients in Burundi and they don't have the capacity to deal with the size of the assignment, they partner with the international organisation's offices in the neighbouring countries, he continued.

Despite a relatively small market and the absence of a stock exchange, Gahungu said the local firms have still plenty of opportunity in audit.

"We partnered with Burundi revenue authority, and all financial statements filled with them, around 6,000, have to be certified by a professional accountant," he said.

Equally banks, insurance companies, large enterprises and non-governmental organisations have to be audited, he added.

Related ACOA15 articles:

Ethiopia's move away from socialism, second coming of the profession approaches

Tanzania praised for IPSAS adoption as cure for "Dutch disease"

Burundi's profession on tenterhooks amidst country's turmoil

African accountants are slaves to a greed they don't understand: PwC's Sehoole

MIPA eyes IFAC full membership

Don't underestimate the voice of PAFA: Kirtley

Integra International prospecting for African members

Nigerian profession calls for African profession for Africans

African profession launches standard setters' forum

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.