Certifieds assist Arabs to set up accountancy body
13 Oct 1983SIXTEEN Arab countries have joined together to form their own professional accountancy body, with help from the Association of Certified Accountants.
The groundwork was completed in London last week when 28 prominent Arab accountants met members of the association to discuss a framework of principles on which the society will operate.
A ten-man council was elected which will be in charge of drawing up a constitution for the new body; this is likely to be completed by the time of the council’s first meeting towards the end of the year. The first president will be Talal Abu-Ghazaleh, a Jordanian national based in Kuwait with one of the largest Arab accountancy firms in the Middle East, Talal Abu-Ghazaleh International. Abdul Majeed Abmed Mohandis is the vice-president.
The Arab countries involved are: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, United Arab Emirates, and the Yemen Arab Republic.
The idea of forming a professional accountancy body for the Arab world is not new but previous attempts have foundered, mainly because there has been no kind of examining function. Developments in the Arab legal system have now made it more urgent that a society be formed as audit certificates are going to have to be written in Arabic and signed by a local accountant.
Following his tour of the Middle East earlier this year, ex-ACA president Professor John Small offered the association’s assistance in launching the new body. The ACA’s role will be to give the Arabs assistance and advice on their by-laws and constitution. To start with, the new Arab Society of Certified Accountants will be organised in a similar way to the ACA with the same sort of exam structure.
The groundwork was completed in London last week when 28 prominent Arab accountants met members of the association to discuss a framework of principles on which the society will operate.
A ten-man council was elected which will be in charge of drawing up a constitution for the new body; this is likely to be completed by the time of the council’s first meeting towards the end of the year. The first president will be Talal Abu-Ghazaleh, a Jordanian national based in Kuwait with one of the largest Arab accountancy firms in the Middle East, Talal Abu-Ghazaleh International. Abdul Majeed Abmed Mohandis is the vice-president.
The Arab countries involved are: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, United Arab Emirates, and the Yemen Arab Republic.
The idea of forming a professional accountancy body for the Arab world is not new but previous attempts have foundered, mainly because there has been no kind of examining function. Developments in the Arab legal system have now made it more urgent that a society be formed as audit certificates are going to have to be written in Arabic and signed by a local accountant.
Following his tour of the Middle East earlier this year, ex-ACA president Professor John Small offered the association’s assistance in launching the new body. The ACA’s role will be to give the Arabs assistance and advice on their by-laws and constitution. To start with, the new Arab Society of Certified Accountants will be organised in a similar way to the ACA with the same sort of exam structure.
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