Intelligence Center, Accounting & Auditing Board Sign MoU to Combat Financial Crimes

Addis Ababa, September 21/2020(ENA) The Financial Intelligence Center and the Accounting and Auditing Board of Ethiopia have signed a Memorandum of Understanding that enables them to combat crimes related to financial reporting.

The MoU was signed today between Ethiopian Financial Intelligence Center Director-General Tewodros Bekele, and Accounting and Auditing Board of Ethiopia Director-General Hikmet Abdella.

During the occasion, Financial Intelligence Center Director-General Tewodros Bekele said the institution has been undertaking various reform activities and working with relevant organizations since its official commencement in 2012.

He added that accountants and auditors have been playing a big role in identifying sources of illegal finance of companies.

“If we manage illegal financial reports at this stage, crimes would be curtailed before they become serous and threaten the country's development,” the director-general stressed.  

There could be no illegal financial report without complicity of accountants and auditors, except of course negligence, Tewodros stated, adding that it is therefore important to work together to bring tangible results.

Accounting and Auditing Board of Ethiopia Director-General, Hikmet Abdella said on her part that the agreement would help the organizations to work together to protect the financial sector from money laundering by using different methods.

The main objectives of the agreement are exchanging information, training, and strengthening collaboration.

Efforts to combat money laundering and financing of terrorism have been occurring in the country; and the government is striving to realize a national system that ensures rule of law by countering illegal activities.