News
IASCA Holds IACPA Qualifying Exam for Staff of the National Oil Corporation
18-May-2022
AMMAN - The International Arab Society of Certified Accountants (IASCA) held a qualifying exam for the IACPA for a group of employees at the National Oil Corporation.
The participants sat for the exam which comprises four sections: economics and finance, accounting, auditing, and legislation.
It is worth mentioning that the IACPA program aims at building and developing the needed cognitive capabilities relevant to understanding the theoretical and conceptual aspects of the International Financial Reporting Standards (IFRS). The program also focuses on strengthening 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) in respect of the standards, and the follow-up of their amendments and updates.
National Oil Corporation
The National Oil Corporation was established in Libya, under Law No: 24/1970, to undertake the realization of the objectives of the development plan in the areas of petroleum, supporting the national economy through increasing, developing and exploiting the oil reserves and operating and investing in those reserves. It is also carrying out exploration and production operations through its own affiliated companies, or in participation with others through companies under service contracts or any type of petroleum investment agreement. This is in addition to marketing operations of oil and gas locally and abroad.