Conclusion of the Activities of the U.N. Committee of Accounting Experts
28 Mar 1993AMMAN – The U.N. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) recently concluded its meetings on international accounting standards and reports preparation. It concluded by calling for a definition and establishment of international qualifications for accountants, and for the preparation of a comprehensive plan for accounting education.
The 50 experts representing 34 countries unanimously agreed to the necessity of defining levels for global qualifications that equate those working in the field throughout the world. Despite the refined level that has been achieved by numerous nations in the accounting profession, there still aren’t assured common levels amongst nations worldwide. This has led to problems for accountants from developing countries and from ‘transitory phase’ countries as well, as it was not possible to conciliate between their qualifications and placing them in equivalent positions relative to one another.
Due to this, there was a suggestion to create a new nomenclature, such as a UN registered accountant and at a higher level a UN registered auditor.
The parties investigating this topic recommended the creation of a task force that the International Federation of Accountants (IFAC), the World Bank, the UN and other relevant parties participate in. Its primary mission would be to define the required qualifications in question.
Also, it was suggested that when the standards are defined, that the UN conclude agreements with governments or other institutions that are keen to implement the standards and execute training programs and convene tests, all under UN supervision.
The experts believe that many of those working in the vocation will welcome the fact that they would become accountants or applicants registered with the UN. There is no doubt that this job title will include international acceptance for the work of the accountant.
The group called on IFAC to face the challenges to cultivate and develop global qualification standards for accountants and auditors that can be ratified by the UN. The group also asked that IFAC prepare a multilingual accounting dictionary.
At the end of the session, the current chairman of the U.N. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), Mr. Talal Abu-Ghazaleh, expressed his satisfaction for the support given by the advanced nations to developing ones in their demand for taking steps that will bridge the wide educational gap between the two entities.
Administrating the group’s eleventh session was Mr. Talal Abu-Ghazaleh from Jordan as Chairman, Mr. Antonio De Santana from Brazil as Vice-Chair, J.J.M. Buck from Holland, Mr. Hubert Benz from Germany and Mr. Rafi Kathiala from India.
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