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Abu-Ghazaleh: Sustainability Standards Empowers Companies to Navigate Dynamic Economic and Social Landscapes while Championing Environmental and Community Well-being.
03-Apr-2024
RAMALLAH - The International Arab Society of Certified Accountants (IASCA) held a panel discussion with master's and PhD degree students at Birzeit University to introduce the IFRS Sustainability Standards. Mr. Jamal Milhem, executive director in Talal Abu-Ghazaleh Global (TAG.Global)/Ramallah Office and Deputy Chair of the Palestinian Association of Certified Public Accounting (PACPA), delivered a lecture to the students on international reporting requirements, the disclosure of environmental, social, and corporate governance data (ESG reporting), and climate-related information.
Mr. Milhem emphasized that the accounting profession is on the brink of significant evolution, with sustainability reports, related disclosures, and associated assurance reports shifting from voluntary practices to mandatory requirements worldwide. As a result, Mr. Milhem stressed the importance of regulators and decision-makers worldwide utilizing reporting programs that simultaneously address climate change and sustainability goals. This approach enables professionals to fulfill their responsibilities in addressing climate change and achieving sustainability effectively.
He also highlighted the pivotal role and the wealth of experience professional accountants possess in managing data, systems, operations, and internal controls. These elements are indispensable for companies to deliver high-quality, informative data to investors, capital markets, and all stakeholders involved in decision-making processes.
Consequently, this will empower financial institutions to support sustainable finance to become a fundamental component of international endeavors at addressing social and environment challenges and achieving sustainable growth. Businesses, investors, and financial institutions can collaborate to attain these goals and contribute to building a more sustainable future and prosperity for all.
At the end of the meeting, Mr. Milhem gave a brief introduction to IASCA, its qualifications and the international professional certificates it offers, along with an introduction to the professional pronouncements issued by IASCA. Additionally, he underlined the significance of training programs in the field of accounting for graduates from the faculty of commerce, highlighting the significant benefits that assist them in securing prominent positions in the job market.