News
IASCA Holds (IFRS Expert) Qualification Exam for Employees of the Libyan Audit Bureau
31-Jan-2022
AMMAN - The International Arab Society of Certified Accountants (IASCA) held a qualification exam for the “IFRS Expert” for a group of employees of the Libya Audit Bureau. The exam is divided into two sessions, the first includes objective questions, and the second includes essay questions.
The certificate aims at building and developing the needed cognitive capabilities relevant to understanding the theoretical and conceptual aspects of IFRS. It also aims at building the ability to apply the international standards in practical accounting in a professional manner, along with assisting in the provision of continuous professional development (CPD) regarding the standards, and the follow-up of their amendments and updates.
It is worth mentioning that in 2021, IASCA signed an agreement with the Libya Audit Bureau that aims at supporting the bureau in achieving its plans and projects, in addition to developing and enhancing the professional competence in its various departments and the official institutions.
The agreement addressed the cooperation in design and development of training curriculum, selection of trainers and the development of their skills, enhancing the professional competence of the individuals working in accounting, auditing and the relevant disciplines and granting them professional certificates, in addition to organizing and holding specialized training courses according to the needs of the institute, and the adoption and application of the IPSAS.
The Libya Audit Bureau is an independent professional entity and the supreme audit institution in Libya that is directly affiliated to the Legislative Authority. It is an unbiased independent professional body, with an independent legal personality and financial status. The Bureau aims primarily to achieve effective control over public funds and to verify their proper use and how to allocate them, by examining and reviewing accounts and evaluating the performance of all entities subject to its control.