AMMAN – The International Arab Society of Certified Accountants (IASCA), chaired by HE Dr. Talal Abu-Ghazaleh, and the International Federation of Accountants (IFAC) President, Mr.  Jean Bouquot, has held a professional meeting at IASCA’s headquarters to discuss means of supporting the professional accounting associations in the Arab region. This comes as part of the three-day official visit of IFAC President, Mr.  Bouquot, organized by IASCA.

In his remarks, Dr. Abu-Ghazaleh emphasized the significance of the meeting, especially in the presence of Mr. Bouquot, highlighting his past contributions to IFAC’s Council, particularly during his membership in the International Auditing Practices Committee (now known as the International Auditing and Assurance Standards Board - IAASB) in 1992, which supported numerous Arab professional bodies in becoming members of IFAC.

He further underscored the importance of embracing digital transformation by the Arab accounting associations by shifting all their services and programs to become digital, similar to what has been achieved by IASCA in the field of professional exams, training, and qualification programs. He also reaffirmed IASCA’s full support to associations seeking to obtain IFAC membership, including the Oman Association of Chartered Public Accountants (OACPA) and the Accounting & Auditing Profession Organization Council in Sudan.

For his part, Mr. Bouquot emphasized the importance of such meetings and their role in strengthening IFAC’s engagement with its members in the Arab region. He reiterated the Federation’s commitment to supporting member associations in delivering high-quality professional services for accountants and auditors, pointing to IFAC’s role in assisting its members in developing their strategic plans to ensure achieving sustainability, and compliance with international standards amid global economic challenges.

During the meeting, attended by a host of IASCA members and representatives of various Arab professional associations, participants shared experience from across the Arab region, outlining IASCA’s efforts in supporting Arab associations through training, certifications, professional translation publications, and necessary consultation and support for joining IFAC membership.

The Palestinian Association of Certified Public Accountants shared its experience in enhancing the quality of financial statements audits in Palestine through developing an ‘Audit Quality Assurance Manual’. Meanwhile, the Jordanian Association of Certified Public Accountants delivered a presentation on its experience in preparing its strategic plan to improve the audit process, ensuring quality, and developing the services provided to its members.

It is worth mentioning that Dr. Talal Abu-Ghazaleh was a member of the IFAC’s Council and was a Member of the IFAC International Auditing Practices Committee in 1992, later known as the International Auditing and Assurance Standards Board; an independent standard-setting body. Additionally, ‘Talal Abu-Ghazaleh & Co. International’ is the only Arab-headquartered Network from the region to be a member of IFAC’s Forum of Firms.