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Abu-Ghazaleh: IASCA’s Participation in IFAC Meeting Highlights Arab’s Role in Setting Accountants and Auditors’ Work Policies Globally
23-Dec-2020
AMMAN - The International Arab Society of Certified Accountants (IASCA) participated in the annual meeting of the International Federation of Accountants (IFAC) in its capacity as a voting member of IFAC.
Deputizing for HE Dr. Talal Abu-Ghazaleh, IASCA’s President, Mr. Salem Al-Ouri, IASCA Executive Director, attended the meeting along with Mr. Jamal Milhem, a board member. Al-Ouri stated that IASCA’s participation in the meeting is an opportunity to highlight the Arab role in setting the general policies of the world’s most prominent body, IFAC, which regulates the work of accountants and auditors.
He added that IASCA’s participation in the meeting is an important opportunity to exchange experiences among IFAC members, indicating IASCA’s role in the enhancement and development of the accountancy and auditing professions in the Arab world under the management and directives of Dr. Abu-Ghazaleh.
Al-Ouri also highlighted IASCA’s role in building the capacities of the national professional societies in the Arab countries for the purpose of the application of the international standards and the adoption of the common practices of IFAC.
Participants discussed various key issues: the annual reports that address the performance of IFAC as well as the reports of its committees and the work plan for the next year, along with some professional papers and studies that may impose future changes on the system and internal regulations. The introduction of technology to keep pace with the requirements of investors and users was also discussed, and the memberships of individuals and organizations that are interested in the profession were accepted.
During the meeting, Mr. Alan Johnson was elected as president of IFAC; he was elected to the IFAC Board in 2015. Since 2018, Johnson has chaired the IFAC Planning and Finance Committee, helped steer the development of IFAC’s new Strategic Plan, and represented IFAC in international forums and events.
Moreover, Ms. Asmaa Resmouki, from Morocco, was elected as a Deputy President; Resmouki has more than 28 years of experience in accounting and has worked on IFAC Board since 2018, and served as the head of the Governance Committee since 2019.
Mr. Kevin Dancy was re-appointed as IFAC’s CEO for a second term, Dancy, who has led the Organization since 2019, has provided critical guidance navigating issues and initiatives from the Monitoring Group, the Public Interest Oversight Board, the Global Public Policy Committee, and the independent standard-setting boards, while also managing external challenges brought on by the Coronavirus (COVID-19) pandemic.
It is worth noting that IFAC is the global organization for auditing and accounting, that aims at enhancing and developing international economies. The IFAC includes more than 175 members and partners in more than 130 countries and jurisdictions representing about three million accountants who work in public services, education, government services, industry, and trade.