News
Abu-Ghazaleh: Searching for a Strategy to Engage the MENA Region in the International Profession of Accountancy
14-Dec-2021
RAMALLAH - Mr. Jamal Milhem, IASCA’s board member and representative in Palestine, participated in the periodic meeting of the Professional Accountancy Organization Development & Advisory Group (PAODAG) of the International Federation of Accountants (IFAC), in his capacity as a member of the PAODAG, and the head of the working group for the development of professional institutions in the Middle East and North Africa in the IFAC.
The meeting was held online on the 13th and 14th of last October, where the participants have addressed many professional issues that aim at developing professional institutions globally.
Mr. Milhem introduced a working paper about “The Importance of the Support Provided by the IFAC to the Professional Institutions in the Middle East”. The paper was co-authored by Ms. Dana Jensen, the manager of quality & development at the IFAC for the MENA region, and Ms. Mahala Groves, the head of capacity building at the Association of Chartered Certified Accountants (ACCA).
The achievements of the previous plan and the vision for work in the MENA region, adopted by the IFAC and presented in 2018, were reviewed at the meeting which was attended by all members of the International Working Group, as well as officials of the IFAC related to professional development.
The role PAODAG plays in supporting the professional accounting organizations, as part of IFAC’s capacity-building efforts and the provision of assistance and direction to develop professional accounting was emphasized. Therefore, PAODAG is exerting the utmost efforts to enhance and fulfill the membership obligations of IFAC along with the best international practices.
During the meeting, a number of success stories in the MENA region were introduced. The success is the fruit of the ongoing commitment and the teamwork of the consultation group during the last four years, where the focus was directed to the following three main areas: The participation of non-members and members, the development of capacity, and the application of group competence.
The participants expressed their sincere thanks to HE Dr. Talal Abu-Ghazaleh, for the great efforts he exerted in providing the necessary capabilities and directives aimed at increasing the effectiveness of professional institutions, as well as for the professional role IASCA plays in the Arab region.
Mr. Milhem noted that the results of the previous years’ work with professional institutions resulted in the approval of the membership of the UAE Accountants and Auditors Association (UAE AAA), and the membership of the Yemeni Association of Certified Public Accountants (YACPA) in IFAC. Work is underway on the membership profiles of several other associations in the Arab countries, as it is expected that the approvals and procedures for membership of the Omani Auditors Association and the Qatar Association of Auditors in the IFAC will be finalized before the annual meetings of the IFAC that will be held in November 2022.
During the meeting, the contributions of Mr. Nader Nasser Hammoud, board member of the YACPA, Mr. Hatem Al Qawasmi, President of the Federation of Arab Accountants and Auditors (AFFA), Dr. Farid Fawaz, Vice President of AFFA, Professor Bilal Fares, Executive Director of the Palestinian Association of Certified Public Accountants PACPA, and Mr. Salem Al-Auri, Executive Director of IASCA, were all reviewed. The attendees' expertise and experience in cooperation with the IFAC, along with their commitment to meet the requirements of the statement of membership obligations (SMO) in IFAC, and the positive impact of adherence to these obligations, were also demonstrated in the meeting.
Dr. Abu-Ghazaleh emphasized IASCA’s commitment to the IFAC SMO. He noted that IASCA is constantly working to enhance the profession and to provide the Arab accountants and the members of IASCA with the latest amendments and changes in the profession at the international level.
Mr. Milhem addressed the role IASCA plays in developing and enhancing the accountancy profession in the Arab region, highlighting the developments in the Palestinian Auditors Association, as a successful role model. IASCA has finalized the requirements of the work plan and applied for the supervision program on the quality of the members to adhere to the professional standards and enhance the confidence of the users of financial statements.
It is worth mentioning that IFAC is an international organization for the accountancy profession that aims at serving the public interest, enhancing the profession, contributing to the development of strong economies. IFAC consists of 180 members and associates in more than 130 countries and jurisdictions, representing about 3 million accountants in public practice, education, government services, industry, and commerce.
IASCA was established in 1984, in London - UK, as a non-profit professional, accounting body. IASCA, officially registered in Amman on February 24, 1994, aims to advance accounting, auditing, and other related disciplines in the Arab countries, members of the Arab League, in addition to preserving the professional independence, protecting accountants, and applying the standards of professional supervision over them.