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Abu-Ghazaleh: Change is a Necessity to Keep Abreast of Knowledge Revolution in all Sectors including Accounting

28-Jan-2021


During his participation in the 2nd International Conference of the Faculty of Business Administration- Delta University

 AMMAN - HE Dr. Talal Abu-Ghazaleh, chairman and founder of the International Arab Society of Certified Accountants (IASCA) and Talal Abu-Ghazaleh Global (TAG.Global), stressed that Information Technology (IT) is considered an essential tool that would shape the future, and change is a necessity to keep pace with Knowledge Revolution in all sectors including accounting.

During his participation in the 2nd international conference of the Faculty of Business Administration- Delta University for Science and Technology, held online through video conferencing app., Dr. Abu-Ghazaleh added that “Accountants in the Arab world face a great challenge in their endeavor to enhance the profession of accounting and auditing. They need to transform auditing from being a tool to revise accounting records and ensure the validity of data, to a tool of making future economic decisions.”

The second conference titled “Financial and Managerial Challenges of the Corona Pandemic and the Role of Knowledge Technologies” was held under the patronage of Dr. Khalid Abdul Ghaffar, Minister of Higher Education and Scientific Research in Egypt, and Dr. Muhammad Rabie Nasser, Chairperson of the University Board of Trustees, and Dr. Yahia El Mashad - President of the University.

Dr. Abu-Ghazaleh addressed the impact of the coronavirus (COVID-19) pandemic on businesses, and the methods to enable the digital transformation in the Arab world.

Moreover, Dr. Abu-Ghazaleh indicated that TAG.Global is working on the development of an electronic auditing software that can study and analyze all the input of financial and accounting information, and give actual, realistic, and applicable information concerning important and informed economic decisions that can be made in order to prepare and correct financial statements.

During the conference, the participants discussed various topics, the most important of which is the financial and administrative challenges imposed by COVID-19 and the role of knowledge technologies. The participants made some recommendations including: modern organizational administrations should adopt transformative plans that aim at designing more flexible processes and procedures, and the need for more investments in the financial and knowledge sectors for the purpose of developing the methods of electronic management.