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January 23, 2017

News Brief: push for accrual accounting in the Middle East

By aziz rahman

The International Arab Society of Certified Accountants (IASCA) said it was committed to support and promote adoption of the International Public Sector Accounting Standards (IPSAS) in the Middle East as well as helping Arab accounting institutes to obtain IFAC membership.

During its annual general assembly held in Beirut (Lebanon) earlier this month, IASCA proposed to issue a professional certificate in the Arabic language on IPSAS and to amend its professional curriculum in accordance with the standards.

IASCA also decided to organise a meeting in Jordan with IFAC and the Ministries of Finance in the Arab world, in order to encourage governments to adopt IPSAS and show the Jordanian success story. 

IASCA is in the process of establishing training centres in Arab countries in cooperation with local accounting institutes and universities, the latest of such cooperation agreement was signed with which was signed with The Palestine Technical University (PTS) of Khadoorie.

In a statement, IASCA also said it was committed to assist Arab institutes to obtain IFAC membership.

Vincent Tophoff, lead of Accountability. Now. an IFAC initiative, said: "Through its Accountability. Now. initiative, IFAC and its partners support governments to improve the quality, transparency, and accountability of their financial management in the public interest by strengthening their accounting and reporting practices. In that light, we are looking forward to continuing to work with the governments in the Middle East, together with the International Arab Society of Certified Accountants and other IFAC member organizations in the region, to improve their accounting and reporting arrangements in accordance with IPSAS.”


Related story:

Palestinian University accredited by Arab Society of Certified Accountants



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