Talal Abu-Ghazaleh Participates in IFAC Meetings
06 Apr 1994Mr. Talal Abu-Ghazaleh, Chairman of the Arab Society of Certified Accountants (ASCA), is headed to Venice, Italy, to participate in meetings of the board (of directors) of the International Federation of Accountants (IFAC), which are to be convened April 6-10, 1994.
The meetings will research the board’s activities particular to the implementation of international accounting principles and will discuss various developments and their effects on the profession, in addition to the federation’s numerous other activities.
The board members will discuss the federation’s plans and revise them as necessary to be compatible with the ongoing changes. Also, the committees for scientific, ethical and financial affairs will present their projects for discussion and adoption by the board members.
The international committee for accounting principles will present its plans to establish unified foundations for accounting standards and auditing systems that are applicable at an international level.
The board will also discuss the preparatory procedures for the federation’s conference to be held in the Dutch capital Amsterdam in May 1995.
The IFAC was formed in 1977 to face the challenges and developments at the national and international levels in the field of accounts and preparation of financial reports. It now includes over 100 professional organizations from countries worldwide.
It is worth noting that the election of Talal Abu-Ghazaleh as a member of the IFAC board in October 1993 represents the first time an Arab was represented in this global organization.
Abu-Ghazaleh contributed to focusing the interest of the board on the significance of raising the level of the accounting and auditing professions in the Arab world and Third World countries, and helped increase the interest on training accountants and auditors to use international principles and standards.
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