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In Ethiopia, it has been stated that there are sufficient accounting professionals who meet global standards. 

Today, during the fourth year of its operation, the advisory council held its 19th regular meeting to discuss the framework legislation for the establishment of the Ethiopian Institute of Accountants.

The Institute aims to ensure that accounting professionals are qualified by providing competency certifications. This has sparked questions from members of the advisory council regarding its necessity.

If it were a training organization, it raises queries from parliament members as to why the government's expenditure is growing rather than being utilized for education under the Ministry of Education.

The Minister of Finance, Dr. Eyob, highlighted that the Institute's establishment is being hindered due to the lack of sufficient accounting professionals in the country to meet global standards.

As a result, it is claimed that 500 accounting professionals are being sent abroad for advanced training due to a shortage of qualified personnel in Ethiopia, leading to reliance on professionals from neighboring countries.

The need to establish the Institute, which would train accounting professionals to meet these global standards, has been emphasized.

According to Dr. Eyob, there are two or three resignation reports being circulated regarding the management of state enterprises in Ethiopia, particularly among the elite and wealthy sectors, which is siphoning national wealth.

Thus, there are concerns that the proposed Institute should adhere to international standards, and it was noted that financial reports must be accurately represented to ensure transparency.

The establishment of this organization involves