The University of Guyana (UG) and the Association of Chartered Certified Accountants (ACCA) on Monday signed a Memorandum of Understanding (MoU) aimed at advancing accounting education and professional development in Guyana.

UG has secured a major boost for its accounting students after its Bachelor of Accountancy programme received international accreditation, granting graduates exemptions from four ACCA examinations and creating a streamlined pathway toward earning one of the world’s most respected professional accounting qualifications. The accreditation places the university among a select group of accredited institutions across the Caribbean and, under new arrangements expected to take effect by 2027, will allow graduates to complete only three remaining strategic-level ACCA papers before qualifying, while also becoming eligible to earn the ACCA Diploma in Accounting and Business alongside their bachelor’s degree.

Speaking at the ceremony, Education Minister, Sonia Parag addressed the significant role that accountancy graduates will play in supporting Guyana’s transformation and continued development. “So you do get that difference, and I believe that is why it’s beneficial because it’s giving you that entire package. There is a huge difference for those who are doing accountancy, and they’ll tell you that it is now going to give you the entire picture because you’re going to have all of the papers that are necessary when you’re doing ACCA, now with the double award. So that’s fantastic, and it is something that is quite meaningful for the transformation because any country that is transforming at the pace that we are transforming also has to have the qualifications to match. You also have to have education, which is the core of any nation’s development, moving at a pace that matches your transformation.” Parag noted that the initiative would not only benefit students entering the programme but would also strengthen Guyana’s ability to manage its resources effectively and serve as an example to other oil-producing nations. She pointed out that many countries have faced challenges due to the mismanagement of oil wealth and stressed the importance of having qualified and properly trained professionals to support sustainable development.