Proclamation No. 1372-2025: The Ethiopian Institute of Certified Public Accountants Establishment Proclamation
This proclamation, officially known as the “Ethiopian Institute of Certified Public Accountants Establishment Proclamation No. 1372/2025,” was passed by the House of People’s Representatives on March 14, 2025. It was published in the Federal Negarit Gazettee on April 16, 2025, and became effective on that date.
Preamble
The Proclamation No. 1372/2025 was enacted for several crucial reasons:
- International Standards Adoption: The Ethiopian government’s decision to implement international financial reporting and auditing standards in both public and private sectors necessitated a sufficient pool of qualified Certified Public Accountants (CPAs).
- Professional Promotion and Institution Establishment: There was a recognized need to develop and promote the CPA profession within Ethiopia, which required the establishment of a dedicated institution.
- Local and International Representation: The creation of an institute was deemed essential to represent the accountancy profession and its professionals, both domestically and on the international stage.
- Public Interest Protection: Promoting the accountancy profession and its professionals is vital for safeguarding the public interest, ensuring transparency and accountability in financial practices.
- Constitutional Authority: The proclamation was issued in accordance with Article 55 Sub Article (1) of the Constitution of the Federal Democratic Republic of Ethiopia.
Effective Date This Proclamation entered into force on April 16, 2025, the date of its publication in the Federal Negarit Gazettee