Special to AG-IP News Agency
AMMAN – IASCA, in its capacity as an IFAC member, has participated in the annual online meetings of the IFAC; represented by Mr. Jamal Melhem, IASCA’s board member, and Mr. Salem Al- Ouri, IASCA’s executive director.
The meeting is held annually with participation of the associations, the Professional Accounting Organizations that are members of IFAC in order to follow up and discuss the professional developments of the auditing profession globally.
During the meeting, the election of the new IFAC’s board of directors was approved, and the new IFAC members joined the General Assembly. The financial and administrative reports and the general strategy of the IFAC for the coming years, focusing on several financial sustainability reports and the harmonization of professional standards for technological development, were also presented and approved.
The attendees also discussed the developments and work plans of the International Accounting Standards Board, the International Auditing Assurance Standards Board, the International Ethics Standards Board of Accountants, and the International Public Sector Accounting Standards Board, in addition to various professional issues in order to develop the profession worldwide and contribute to achieving the sustainable development goals.
Mr. Milhem indicated that IASCA has maintained its membership in IFAC since 1985, and that IASCA, Chaired by His Excellency Dr. Talal Abu-Ghazaleh, working to strengthen the profession in the Arab World and help Arab countries join IFAC , the latest of which was the Yemeni Association of Certified Publish accountatns Y(ACPA), and the UAE Accountants & Auditors Association (AAA) , and it is expected that the Omani Association of CPAs and the Qatar Association of CPA’s to join next year.
IFAC is the global voice of the accounting and auditing profession, and it consists of more than 180 members and professional organizations from 130 countries, representing more than 3 million auditors around the world.
IFAC aims to serve the global economy through the establishment of high-level professional standards, where, through specialized boards it issues International Public Sector Accounting Standards, international Standards on Auditing, International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services, , and The International Code of Ethics for Professional Accountants Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. IASCA conducts many qualification programs for accountants in various areas, and it organizes professional examinations in accounting in the Arab World. It also translates various international standards issued by IFAC into Arabic with the aim of making them available to professionals, scholars and researchers in the Arab Region to enhance knowledge and keep pace with global professional development.