Society receives recognition
01 Jun 1984Surging ahead with its development, the Arab Society of Certified Accountants has become the first Arab accountancy body to receive audit recognition from an Arab government.
Following its Council meeting in Amman, Jordan, last month, Society President Talal Abu-Ghazaleh announced that an official letter of recognition had been received from the Jordanian government together with an invitation to establish permanent headquarters in the country.
The Society is being assisted by the Association in its formation and establishment and plans to rely on the Association’s examinations for entry qualification. Its aim is to meet the criteria laid down by the Association for entering into a joint examination scheme. One of these is that it receives recognition from the governments of the countries it covers.
“We expect to get recognised by the other Arab countries in due course”, said Mr. Abu-Ghazaleh. “But this breakthrough is very significant because we have become the first Arab accountancy body to become recognised by any country.”
“We have in addition received letters from two rulers in the United Arab Emirates with recognition of our certificates for practice purposes and from the chairman of the Union of Chambers of Commerce in the UAE”, said the Society’s forceful President.
“On the membership side the response is great. We are receiving great interest.
More importantly we are getting at least 50 applications from students every day. We are very interested in having a large student membership since that is where we see our role — in developing the standard of the qualification of the professionals in our part of the world.”
More importantly we are getting at least 50 applications from students every day. We are very interested in having a large student membership since that is where we see our role — in developing the standard of the qualification of the professionals in our part of the world.”
Come the initial application deadline in July, Mr. Abu-Ghazaleh expects over 200 members — making the Society the largest Arab body. Students will initially be asked to register as Association students pending the hoped for establishment of a joint examination scheme.
The Society also plans to establish teaching facilities.
As far as meeting Association requirements for a suitable administrative organization, the President says: “We have no problem of financial resources. We have no problem of human resources. So I don’t see any problem.
We know the rules and regulations on establishing joint examination schemes with the Association. Having studied them in advance we are in agreement with them and we know that we can live with them.”
At its meeting last month the Arab Society Council appointed two new Council members,
Wahib Al Shair, President of the Arab firm Shair & Co. and Arthur Andersen partner Faud Alauddine.