Focus on Concepts of Work and Compatibility between Accounting Standards
16 Mar 1993AMMAN – The sessions of the conference of the U.N. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting which convened March 8-12, 1993, addressed important topics. The most significant of these was the method that those working in the accounting profession should follow in order face the challenges of the global economy.
It is worth noting that the conference sessions took place under the title of “Accounting Education”, and were chaired by Mr. Talal Abu-Ghazaleh.
The conference sessions, which enjoyed the participation of experts from countries all around the world, focused on the necessity of accounting curricula used in universities and higher institutes adopting material that will address the needs which will be imposed in the next ten years. The conference attendees pointed out that the failure of the accounting profession to address these challenges will make it lose its credibility. They also agreed that accounting education must be conducted in such a way that it aims to prepare students to become qualified accountants through practice and experience and not merely graduating from a university and the obtainment of a degree.
One of the studies presented during the conference suggested that accounting education must focus on the comprehensive concept of this profession, which will enable students to face and continuously deal with the ongoing development in the global economy.
Conference chairman Mr. Talal Abu-Ghazaleh pointed out that globalization and internationalization of the economy is an issue that calls for the globalization and internationalization of accounting education. He added: “To achieve this, we need an action plan and we also need financing sources.”
The chairman also alluded to the problem facing the development of accounting education that it is apparent in the status of colleges that teach these subjects, saying “To overcome this problem, we need to modernize new colleges and institutes , as is being done in some nations. There, work is being done to change the training process into other areas that developing countries face and where the economic situation imposes such change.”
On the other hand, the final declaration of the U.N. Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting conference stated that the issues that will be addressed at the Third Arab International Accountancy Conference that will be convened in Bahrain during April 10-12 will focus on the conciliation process between domestic and international accounting standards, in addition to the legal and technical challenges that the new world order imposes.
In addition to the aforementioned topics, the conference sessions will address issues relating to the activities of Arab countries among themselves and with other nations. Some of the most significant areas the conference will address are the challenges facing Arab accountants, the legal and technical accounting legislations, conflicts of interest, professional changes within the new global framework, compatibility between professional standards and rules in the Arab region and professional qualification of accountants.
Mr. Talal Abu-Ghazaleh, Chairman of the Arab Society of Certified Accountants, said: “We are doing everything we can to develop the region economically.” He emphasized the region’s need for clear and practical accounting standards that are compatible with the new world, considering this issue to be on of the main keys to fulfill desires economic progress in the Arab world.
Follow us
