IFAC Depends on ASCA
10 Nov 2003The chairman of the Arab Society of Certified Accountants (ASCA), Mr. Talal Abu-Ghazaleh, is representing the Arab region -as a member of the consultative group emanating from the governmental sector committee at the International Federation of Accountants (IFAC)- at the committee’s meetings convening in Berlin, November 5-7, 2003.
One of the governmental sector committee’s assignments is creating guidelines for governmental accounting standards, and standards of governmental budgets, in addition to putting in place guidelines for governmental bodies and others responsible for establishing accounting standards. Committee membership includes 13 countries through an election process.
One of the new topics discussed by the IFAC board is “Accounting related to social responsibility” and “Accounting related to development aids”.
Participating in the meetings were representatives from the World Bank, the International Monetary Fund, the UN, the UN Developmental Program, the European Union, the Economic Cooperation and Growth Organization and the Asian Bank for Development.
Abu-Ghazaleh attended in his personal capacity as a representative of the Arab accounting qualification sector in addition to his role as ASCA chairman representing the Arab accounting profession.
He is the only Arab person attending these meetings.
The committee and IFAC continue to depend on ASCA to release certified translations for accounting standards and guidelines and governmental budgets. ASCA continues to issue international accounting standards and auditing standards that are adopted for the private sector.
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