Abu-Ghazaleh Takes Part in Sultanate of Oman International Conference on Accounting and Auditing

AMMAN - HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global (TAG.Global) and chairman of the International Arab Society of Certified Accountants (IASCA), has participated (digitally) Oman International Conference on Accounting and Auditing; which was also attended by the President of the New York-based International Federation of Accountants (IFAC), President of the UK-based Association of Chartered Certified Accountants (ACCA), President of the Australia-based Certified Practicing Accountant (CPA), Chairman of the Oman Association for Chartered Public Accountants (OACPA), and President of Saudi Organization for Chartered and Professional Accountants (SOCPA).

The conference covered several significant topics including the International Public Sector Accounting Standards, contemporary internal auditing techniques and approaches, sustainability, latest updates to some standards, and professional ethics and morality.

In his statement, Dr. Abu-Ghazaleh expressed his pride at being elected as the first non-Western accounting organization member to the IFAC Board of Directors in 1992. He further welcomed the President of ACCA, pointing out that IASCA was established and hosted at the ACCA’s headquarters in 1984, extending gratitude for its support.

Dr. Abu-Ghazaleh underlined the importance of advancing the accounting profession to keep up with the development in the Knowledge Era, which requires a comprehensive digital transformation in all aspects of our lives; affirming that developing the accounting and auditing standards and services to become digital has become a necessity.

He further stated that TAG.Global is working on developing the ‘Audit Tech’ program which is based on the international accounting and auditing standards, noting that it will be installed on the clients’ accounting systems to directly generate the audit reports.

Moreover, Dr. Abu-Ghazaleh referred to his efforts while handling various international positions, including his election to the International Accounting Standards Board and the International Financial Data Standards in London, explaining  that he advocated for the amendment of auditing objectives not just to encompass the preparation of financial data such as profit and loss statements and balance sheets but to also assist economic decision-makers in making necessary decisions to enhance profits and financial conditions.

It is worth mentioning that the Oman International Conference on Accounting and Auditing discussed the most important challenges facing the accounting and auditing profession in terms of skills, ethics, and competencies.