Recommendations for Creating Programs to Elevate Level of Accounting Profession in Arab World
19 Apr 1993Concluding in the Bahraini capital Manama yesterday were the activities of the Third Arab International Accountancy Conference, which had begun on the tenth of this month under the patronage of Prime Minister Sheikh Khalifah Bin Salman Al Khalifah. On his behalf, the Minister of Industry and Trade Mr. Habib Qasim patronized the conference.
In a speech, Mr. Qasim thanked the Arab Society of Certified Accountants (ASCA) and other organizing parties for their efforts in organizing the conference, which represents a golden opportunity to meet professionals worldwide, according to Mr. Qasim.
He also called for the necessity of unifying the efforts of all professional bodies and societies in the Arab region to strengthen the ties with international associations and bodies, in order to create qualification programs that are compatible with economic developments and variables being witnessed worldwide and in the Arab region.
In an opening session speech, ASCA Chairman Talal Abu-Ghazaleh called for the necessity of relevant accounting associations and institutions in the Arab region to be aware of the changes that must be faced, by reviewing the educational curricula and tying these in with the practical reality, in addition to calling on universities to constantly conduct their roles in opening the doors of professional training and qualification.
He also pointed to the necessity of creating a taskforce to define a comprehensive plan for establishing Arab accounting standards, and determining the responsibilities of auditors, and complete coordination between professional organizations and establishments and Arab universities and institutes in order to found a complete perception on accounting education. This coordination will be so that professional accountants able to face challenges can be prepared and qualified.
Mr. Abu-Ghazaleh emphasized the importance of the role that both accounting offices/companies in Arab countries and accounting departments in major global corporations in the Arab region need to take, in the area of modernizing professional standards and developing accounting education.
At the start of the conference, the Bahraini Trade Minister honored the students at the top of their class from among the ASCA graduates. These included the fist Saudi female who obtained the title of “Arab Certified Accountant”, a Bahraini student and two Jordanian students.
At the conference, numerous seminars and lectures were delivered, with the participation of a group of experts and professionals from the Accounting Experts Committee, the University of Jordan, the Audit Bureau of the Hashemite Kingdom of Jordan, professors from Egyptian universities and the University of Bahrain, and businesspeople.
The conference concluded its activities by issuing numerous recommendations including:
- The necessity of the creation and execution of a common effort between all bodies and institutions concerned with the accounting profession in the Arab region in all its aspects, by opening the channels of continuous communication between them in order to elevate the profession to the highest levels possible.
- The necessity of aforementioned organizations to adopt international standards related to the accounting vocation and making them consistent and compatible with the laws, legislations and national norms that regulate the discipline in various Arab countries.
- Calling upon the Arab universities and educational institutes to seriously work towards developing their educational curricula in conformance with professional changes and developments, and to cooperate with vocational organizations to qualify their members.
- The necessity of the creation of programs to elevate the profession, by vocational bodies and institutions, in order to raise the efficiency of those working in the discipline through constant education.
- Calling upon aforementioned organizations to embrace their role in promoting awareness and the role of the vocation and the significance of the accountant in providing financial and non-financial information necessary for issuing decisions important to economic and social progress.
- Creating formulations that force these bodies to monitor the adherence of accountants to adopted standards.
Also, a workshop organized by ASCA –in collaboration with the U.N. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting- was concluded the day before yesterday, on establishing accounting standards particular to the Arab region, in addition to research for placing special programs in place for qualifying professionals; both auditors and accountants.
The workshop focused on the best methods that can be followed to bridge the gap between the national standards that regulate the accounting profession and international standards. It also researched the issue of accounting education and how to elevate it.
The UN accounting experts group includes 50 professionals from countries worldwide.
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