Abu-Ghazaleh: The World Accounting Community Discusses Accounting Standards in Government Strategies in Manila



MANILA - The International Arab Society of Certified Accountants (IASCA) participated in the 'International Public-Sector Accounting Standards Board (IPSASB) Strategy Roundtable and Capacity Building Forum,' held at the Asian Development Bank (ADB) Headquarters in Manila.

The Manila gathering was an opportunity for government officials from ADB’s developing member countries (DMC) to contribute to the IPSASB standard-setting process and enhance their public-sector accounting capacity, including knowledge of accrual-basis IPSAS and formulating plans to further improve their respective government accounting framework to be more transparent and accountable.

IASCA was represented by member of the Board and representative of IASCA in Palestine Mr. Jamal Melhem who briefed the attendees on IASCA’s regional role in promoting the adoption and implementation of IPSAS in the MENA region for governmental accounting and reporting, and highlighted IASCA's activities including translation of IPSAS, developing education training materials and the advocacy role it plays with the other stakeholders to achieve their objectives and assist in  good governance of public financial management.

Over 100 senior government officials and attendees from more than 50 countries attended the event as well as speakers and participants from international agencies ADB’s DMCs, and other bilateral and multilateral development banks, including World Bank, African Development Bank (AfDB), Islamic Development Bank (ISDB), Inter-American Development Bank (IADB), and International Fund for Agricultural Development (IFAD). Participants included representatives from supreme audit institutions such as International Organization of Supreme Audit Institutions (INTOSAI), ASEAN Supreme Audit Institutions (ASEANSAI), Pacific Association of Supreme Audit Institutions (PASAI), and International Federation of Accountants (IFAC).

 During the meeting, participants discussed the strategy plan priorities, themes and activities for achieving the desired objectives over the next five years. Participants also shared success stories pertaining to countries that adopted and implemented the accrual basis of accounting and IPSAS. Challenges, and how to overcome them, were discussed in relation to countries moving towards adoption of IPSAS in their accounting and reporting system.

 HE Dr. Talal Abu-Ghazaleh, Chairman of IASCA, praised the Society’s supporting role, since its establishment in 1984, in developing accounting and audit professions in the Arab world.

IASCA representative, MR. Milhem who was selected as a member of the IFAC Committees: Public Accounting Organization Development Committee and PAODC for the 2018-2021, also attended the committee meetings held in Manila May 31-June 1, 2018, enabling IASCA to contribute to the profession’s development worldwide and introducing the professional developments in the Arab region to IFAC members from other regions