The Director General of the Cooperative Audit and Supervision Corporation (COASCO), CPA Alphonce Muro, made the call when opening a three-day training for cooperative leaders and executives at Mabeyo Hall in Dodoma. The training aimed to enhance the capacity of cooperative leaders and executives to improve the management of cooperative societies. CPA Muro emphasized the importance of translating knowledge gained into improved governance, accountability, and management.
The training covered key areas directly related to governance, accountability, and the performance of cooperative societies, as well as safeguarding members’ resources. The topics included presentation and interpretation of financial statements in accordance with IFRS 18, taxation matters, and the Finance Act, 2026. Environmental, social, and governance (ESG) issues, key principles of internal auditing, preparation of year-end financial statements, cybersecurity, and data privacy were also covered.
CPA Muro urged participants to share the knowledge gained with colleagues upon returning to their respective societies, review key systems, address recurring audit issues, and assess the impact of the training. He stressed that preparing an implementation plan was crucial to ensure that the knowledge gained was translated into improved governance, accountability, and management of their societies.
The COASCO Director of Advisory and Research Services, CPA Golden Kajaba, said the three-day training brought together cooperative leaders and executives to enhance their capacity and improve the management of cooperative societies. The training was designed to equip participants with the necessary skills and knowledge to manage their societies effectively.
Speaking on behalf of participants, CPA Hilda Loishiye from Bima ya Afya SACCOS said the training had enhanced their understanding of financial management, compliance with legal requirements, and proper use of digital systems. She expressed confidence that participants would apply the knowledge gained to improve performance and management of their respective cooperative societies.
The training is part of COASCO's efforts to strengthen governance and accountability in cooperative societies in Tanzania. By enhancing the capacity of cooperative leaders and executives, COASCO aims to promote good governance, transparency, and accountability in the management of cooperative societies.
The call by COASCO comes at a time when cooperative societies in Tanzania are playing an increasingly important role in the country's economy. With millions of Tanzanians relying on cooperative societies for financial services, the sector requires effective governance and management to ensure the sustainability and growth of these societies.
Key points
- COASCO urges cooperative leaders to prepare implementation plans to translate knowledge gained from training into improved governance, accountability, and management of their societies.
- The training covered key areas directly related to governance, accountability, and the performance of cooperative societies.
- The training aimed to enhance the capacity of cooperative leaders and executives to improve the management of cooperative societies.
