Abu-Ghazaleh Receives the President of IFAC, Discusses Key Global Developments in the Fields of Accounting and Auditing

On His First Visit to the Arab Region

AMMAN – HE Dr. Talal Abu-Ghazaleh, chairman and founder of the International Arab Society of Certified Accountants (IASCA), has received in his office Mr. Jean Bouquot, president of the International Federation of Accountants (IFAC), as part of his three-day official visit organized by IASCA.

Dr. Abu-Ghazaleh welcomed Mr. Bouquot, expressing his gratitude for accepting the invitation, noting its significance as IFAC President’s first visit to the Arab region. Mr. Bouquot thanked Dr. Abu-Ghazaleh for the warm hospitality and praised his decades-long efforts in serving the profession in general and accounting professionals in particular for over the past 65 years. 

In addition, Dr. Abu-Ghazaleh welcomed the Palestinian Association of Certified Public Accountants (PACPA) Board delegation, which attended part of the meeting. 

For her part Dr. Mai Abu Alia, general manager of the Palestinian Income Tax Department, conveyed a message of appreciation from HE Dr. Omar Al-Bitar, Palestinian Minister of Finance for Dr. Abu-Ghazaleh’s unwavering support for the Palestinian professional accountants.

During the meeting, the parties discussed key global developments in the fields of accounting and auditing, along with their impact on the profession. Meanwhile Dr. Abu-Ghazaleh highlighted the rapid technological advancements, especially in the Artificial Intelligence (AI) domain, emphasizing the importance of keeping pace with such emerging trends in the accounting and auditing professions.
He further stressed the vital role of modern technologies in improving the accuracy and efficiency of financial data and services offered to clients.

 underlining the need for intensified collaboration with IFAC to establish clear and well-defined standards for accounting treatment and financial reporting impact of climate change. He referred to his pioneering efforts in 1999 when he co-published the first guide on this topic, in cooperation with the United Nations, through the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR).

In response, Mr. Bouquot has emphasized IFAC’s commitment to supporting national professional organizations and their affiliated members, especially in areas related to financial sustainability, transparency, compliance, and technological advancement, pointing out that the topics addressed during the meeting would be further addressed in the upcoming IFAC Board meetings. 

It is worth noting that HE Dr. Talal Abu-Ghazaleh was a member of the IFAC’s Council in 1992 and was a Member of the IFAC International Auditing Practices Committee, now the independently operating International Auditing and Assurance Standards Board. Additionally, “Talal Abu-Ghazaleh & Co. International" is the only Arab-headquartered Network from the region to be a member of the Forum of Firms.