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AISCA participates in annual IFAC meetings, WCOA in Sydney

Sydney – The Arab International Society for Certified Accountants (AISCA) participated in the annual meetings of the International Federation of Accountants (IFAC). The society also participated in the World Congress of Accountants (WCOA) which is held once every four years.

During the IFAC meetings,  participants discussed the state of the auditing profession as well as plans and projects for upgrading  professional standards. They also discussed suggested amendments on the mechanism for setting up and developing standards.

The discussions touched on annual reports on IFAC performance, the affiliated committees’ reports, and the action plan for 2019, in addition to discussing the plan for supporting the Palestinian Association of Certified Public Accountants (PACPA).

During the meetings, which were attended by representatives of member associations from the general assembly of IFAC,  participants elected Mr. In-Ki Joo from South Korea as the new President of IFAC, and Mr. Alan Johnson as Deputy President. They also elected a number of new members of the board.

This came concurrently with the four-yearly World Congress of Accountants held in Sydney from November (5-8) 2018, with the participation of a large number of professionals and representatives of international accounting institutes.

Commenting on the participation of IASCA, HE Dr. Talal Abu-Ghazaleh, the Chairman of the IASCA, praised IASCA’s key role in contributing to enhancing the accounting and auditing professions in the Arab region since its establishment in 1984, in addition to its role in building the capacity of the Arab national professional societies in order to implement international standards and adhere to the best IFAC auditing practices for enhancing  economic and social development in the Arab region.

Abu-Ghazaleh highlighted the strategy he is implementing at Talal Abu-Ghazaleh Group and in the institutes that he chairs, to guarantee  full transformation to knowledge application in various businesses and professions. He affirmed that he has assigned a team of members from the group and IASCA to work on developing the “Auditor Program” which will use Artificial Intelligence technology to execute the auditing process, and to reduce human interference in the process.

Dr. Abu-Ghazaleh wished Mr In-Ki Joo and IASCA board of directors  success in meeting the current and future challenges facing the profession, and for coping with the changes and developments efficiently.

Member of the board Jamal Melhim, and Executive Director Salem Al-Ouri represented IASCA at the meetings. 

The World Congress of Accountants was held in the presence of former UN secretary-general Ban Ki-moon, Prince Charles, and 150 speakers and worksheet presenters, in addition to 6000 participants from more than 120 countries.