Outcomes and resolutions of the inaugural Somaliland Accounting & Finance Summit
The Institute of Certified Public Accountants of Somaliland (ICPAS) issued this communiqué following the successful completion of the inaugural Somaliland Accounting & Finance Summit 2026.
The Summit brought together senior government officials, professional accountants, academics, financial sector leaders, development partners, and representatives of the private sector under the theme:
“Driving Professional Excellence and Economic Growth through Financial Integrity.”
The Summit affirmed that a strong, ethical, and well-regulated accounting profession is essential to public trust, private-sector growth, tax compliance, public financial accountability, and Somaliland’s broader economic development.
The Summit recognized the historic importance of presenting Somali accounting terminology and affirmed the need for a shared professional vocabulary to support accounting education, regulation, public understanding, and professional identity.
The Summit highlighted gaps in recordkeeping, limited use of accounting systems, and low utilization of professional accountants by SMEs.
Participants emphasized the link between reliable financial records, professional accounting support, and access to credit and investment.
The Summit called for practical collaboration between accountants, financial institutions, and policymakers to strengthen financial credibility and reduce information asymmetry.
The Summit recognized the growing role of technology and artificial intelligence in accounting practice and business management.
ICPAS was encouraged to integrate technology and AI literacy into continuing professional development and promote the adoption of accounting software among SMEs.
The Summit discussed the supply of accounting graduates and the alignment of university education with labor-market and professional requirements.
The Summit drew lessons from regional and international experience, including Rwanda, Ethiopia, Ireland, and other jurisdictions, in professional regulation, governance, PFM reform, and audit oversight.
The Summit considered evidence on tax-evasion tolerance, taxpayer attitudes, institutional trust, perceptions of fairness, and the role of the profession in supporting lawful tax compliance.
The Summit discussed external audit, parliamentary oversight, internal controls, and public accountability.
The Summit reviewed Somaliland’s PFM reform agenda, including budget credibility, financial reporting, public expenditure, domestic revenue, and institutional accountability.
Disseminate the Summit proceedings and communiqué.
Issue CPD attendance certificates to eligible participants.
Establish a working group to follow up Summit resolutions.
Advance the Somali accounting terminology project.
Continue engagement with government on PFM reform, audit standards, and professionalization of public finance.
ICPAS acknowledges the Somaliland Government, public institutions, speakers, moderators, panelists, development partners, sponsors, professional firms, universities, and participants whose contribution supported the successful delivery of the inaugural Summit.
Special appreciation is extended to the Summit sponsors, including Dahabshiil Bank International, Horn Petroleum, Ambassador Hotel Hargeisa, HLB SOM Audit and Advisory, and the Bank of Somaliland.
Outcomes and resolutions of the inaugural Somaliland Accounting & Finance Summit
The Institute of Certified Public Accountants of Somaliland (ICPAS) issued this communiqué following the successful completion of the inaugural Somaliland Accounting & Finance Summit 2026.
The Summit brought together senior government officials, professional accountants, academics, financial sector leaders, development partners, and representatives of the private sector under the theme:
“Driving Professional Excellence and Economic Growth through Financial Integrity.”
The Summit affirmed that a strong, ethical, and well-regulated accounting profession is essential to public trust, private-sector growth, tax compliance, public financial accountability, and Somaliland’s broader economic development.
The Summit recognized the historic importance of presenting Somali accounting terminology and affirmed the need for a shared professional vocabulary to support accounting education, regulation, public understanding, and professional identity.
The Summit highlighted gaps in recordkeeping, limited use of accounting systems, and low utilization of professional accountants by SMEs.
Participants emphasized the link between reliable financial records, professional accounting support, and access to credit and investment.
The Summit called for practical collaboration between accountants, financial institutions, and policymakers to strengthen financial credibility and reduce information asymmetry.
The Summit recognized the growing role of technology and artificial intelligence in accounting practice and business management.
ICPAS was encouraged to integrate technology and AI literacy into continuing professional development and promote the adoption of accounting software among SMEs.
The Summit discussed the supply of accounting graduates and the alignment of university education with labor-market and professional requirements.
The Summit drew lessons from regional and international experience, including Rwanda, Ethiopia, Ireland, and other jurisdictions, in professional regulation, governance, PFM reform, and audit oversight.
The Summit considered evidence on tax-evasion tolerance, taxpayer attitudes, institutional trust, perceptions of fairness, and the role of the profession in supporting lawful tax compliance.
The Summit discussed external audit, parliamentary oversight, internal controls, and public accountability.
The Summit reviewed Somaliland’s PFM reform agenda, including budget credibility, financial reporting, public expenditure, domestic revenue, and institutional accountability.
Disseminate the Summit proceedings and communiqué.
Issue CPD attendance certificates to eligible participants.
Establish a working group to follow up Summit resolutions.
Advance the Somali accounting terminology project.
Continue engagement with government on PFM reform, audit standards, and professionalization of public finance.
ICPAS acknowledges the Somaliland Government, public institutions, speakers, moderators, panelists, development partners, sponsors, professional firms, universities, and participants whose contribution supported the successful delivery of the inaugural Summit.
Special appreciation is extended to the Summit sponsors, including Dahabshiil Bank International, Horn Petroleum, Ambassador Hotel Hargeisa, HLB SOM Audit and Advisory, and the Bank of Somaliland.