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Abu-Ghazaleh: IASCA Discusses Status of Audit Profession at IFAC’s Meeting in Belgium

BRUSSELS - The International Arab Society of Certified Accountants (IASCA) participated in the International Federation of Accountants (IFAC) Annual Council Meeting held in Brussels.

IASCA was represented by member of the Board and representative of IASCA in Palestine Mr. Jamal Melhem and IASCA Executive Director Mr. Salem Al Ouri.

During the meeting, participants discussed the status of the audit profession, plans and projects to develop high-quality international standards for professional auditors and accountants as well as suggested amendments to the mechanism of preparing and developing such standards.

Moreover, they discussed the performance of the Federation documented through annual reports and reports of affiliate committees, in addition to the 2018 Work Plan and professional studies and specialized papers, as well as a plan for supporting and developing the Palestinian Association of Certified Public Accountants.

HE Dr. Talal Abu-Ghazaleh, Chairman of IASCA, praised the Society’s supporting role, since its establishment in 1984, in  developing accounting and audit professions in the Arab world in addition to building capacities of national professional societies and associations in these countries for the implementation of international standards and compliance with IFAC’s good practices that contribute to the economic and social development in the Arab region.
The IFAC Meeting was attended by representatives of the World Bank and a host of international organizations concerned with the development of accounting and audit in the world, as well as representatives from 102 member countries of the Federation.
IASCA representative Melhem was selected to be a member of one of the main committees dealing with development of the profession in the world for the 2018-2021 cycle which will enable IASCA to contribute to the profession’s development worldwide and present the professional developments in the Arab region to IFAC members from other regions.
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in more than 130 countries and jurisdictions, representing almost three million accountants in public practice, education, government service, industry and commerce.