International Arab Society of Certified Accountants
Member | Established: 1984 | Member since 1985
The International Arab Society of Certified Accountants (IASCA) was established on January 12, 1984 as a non-profit professional accounting association in London, UK. It was formally registered in Amman on February 24, 1994 under the name the Arab Society of Certified Accountants. The notion of establishing IASCA was proposed by a group of high-level Arab accountants, which aims at advancing the profession of accounting, auditing, and other related disciplines in the countries of the Arab League. IASCA also aims to maintain the professional independence of Arab accountants and their protection, as well as apply professional supervisory measures as a way to elevate the professions of accounting and auditing. It also aims to develop and facilitate the continuous spread and exchange of professional and technical information among accountants by holding conferences, meetings, seminars, training courses, and academic gatherings.
Statements of Membership Obligations (SMOs)
The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
The IASCA has no direct responsibility for the quality assurance (QA) review system in Jordan. As its members reside in a number of different countries, with different statutory requirements, rules, and legislation, maintaining its own system of quality assurance becomes relatively impossible. The IASCA focuses, instead, on raising member awareness—through development of formal communication and education programs—of the importance of implementing ISQC 1 and ISA 220, Quality Control for an Audit of Financial Statements, and providing training on the standards.
The IASCA is encouraged to establish plans to collaborate with the Jordanian Association of Certified Public Accountants on promoting the establishment of a mandatory QA system.
The IASCA has shared responsibility for initial professional development (IPD) and continuing professional development (CPD) for its members. It maintains an ongoing process to update its professional certification programs to align them with IES. Also, it continues to raise awareness of the importance of incorporating IES into the IPD programs of education institutes and universities.
The IASCA monitors the activities of the IAESB for changes to requirements and incorporates them into its curriculum as necessary. It has established CPD requirements for its members, although it’s not clear if these are in line with the revised IES. The IASCA keeps members abreast of their CPD obligations, provides CPD learning opportunities, and monitors and sanctions non-compliance. The IASCA also intends to explore options of expanding its CPD course offerings to its members by reviewing possible third-party providers.
The IASCA is encouraged to consider arranging access to translated copies of IES for members of the profession, as well as for those involved in defining IPD and CPD requirements. The society is also encouraged to review the revised IPD and CPD requirements of the IES (2015) and include its plans on making them compliant with IES in its SMO Action Plan. In addition, it would be beneficial for the IASCA to participate in the international standard-setting process by providing comments on IAESB Exposure Drafts and other pronouncements.
The IASCA has no direct responsibility for the adoption of auditing standards in Jordan. It supports the implementation of the Clarified ISA, which have been adopted, by ensuring that the standards are translated into Arabic in a timely manner and are available to its members and other professionals. It also monitors revisions to ISA and other pronouncements promulgated by the IAASB, and provides periodic updates. In addition, the society facilitates the incorporation of new and revised standards into certification, education, and continuing professional development material and programs. It further supports the implementation process by translating guidance material prepared by IFAC such as the Guide to using ISA in the Audits of Small- and Medium-Sized Entities (3rd Edition), and by providing training to enhance professionals’ understanding and ability to apply the standards.
The IASCA is encouraged to participate in the international standard-setting process by providing comments on Exposure Drafts and other IAASB pronouncements.
The IASCA has no responsibility for setting ethical requirements for the profession in Jordan. It is unclear whether the IASCA adopts the IESBA Code as a requirement for membership and certification. The IASCA reports that it communicates ethical requirements by mentioning the Code of Ethics in International Arab Certified Public Accountant material and holding awareness sessions to enhance the knowledge and implementation of the requirements.
The IASCA’s activities focus on raising awareness by translating the latest versions of the Code into Arabic, and working to integrate the requirements of the Code into training programs for its members. The society also engages with government representatives on areas between national legal requirements and the IESBA Code of Ethics where conflicts may arise. The IASCA has started an exercise to compare national ethical requirements contained in various laws and regulations with the IESBA Code to identify differences and bring them to the attention of the responsible parties. It is also reviewing its education, certification and continuing professional development syllabi to improve alignment with the IESBA Code. The IASCA also assists members with application and compliance by offering various ethics-related courses and training, and is creating a web-based repository with ethics-related content.
The IASCA is encouraged to clarify if it can and does adopt the Code as a requirement for its members and certification. It is encouraged to consider including plans in its SMO Action Plan to participate in the international standard-setting process by providing comments on Exposure Drafts and other IESBA pronouncements.
The IASCA does not have any responsibility for public sector accounting standards. Therefore, it focuses its efforts on promoting adoption and implementation of IPSAS in Jordan. The IASCA has a cooperation agreement with the Ministry of Finance to support implementation of IPSAS in the jurisdiction. In addition, it promotes and raises awareness by making available Arabic translations of the standards, and provides updates via its website on IPSASB pronouncements. It has established dialogue with professional accountancy organizations in the countries of the region to enhance knowledge sharing on IPSAS adoption and implementation. In addition, the IASCA offers courses and hosts conferences and lectures on IPSAS throughout the Arab world.
The IASCA does not have the authority to carry out investigation and discipline (I&D) for professional accountants in Jordan, as this responsibility lies with the Jordanian Association of Certified Public Accountants, in consultation with the Jordanian Courts and the Higher Committee of the Accountancy Profession. However, the IASCA is considering how to fulfill the requirements of revised SMO 6. In addition to its ongoing review of the requirements to inform the changes that may need to be made to its constitution, by-laws, committees, and organizational structure, the IASCA plans to develop an action plan in 2016 to put its I&D system into operation.
The IASCA is strongly encouraged to develop an I&D system for its members, particularly due to its international/regional membership. It is vital that an I&D system be developed and implemented as a priority. The IASCA is encouraged to include in its SMO Action Plan its specific plans for the establishment of an I&D system.
The IASCA has no direct responsibility for the adoption of IFRS, but it supports the adoption and implementation of the standards through its focus on making available Arabic translations of IFRS and IFRS for SMEs, and by offering relevant training. It monitors changes to the standards and provides updates through courses and workshops. In addition, it offers certification courses and examinations in IFRS and collaborates with the IFRS Foundation to raise awareness and understanding of IFRS for SMEs in Arab countries.
The IASCA is encouraged to consider participating in the international standard-setting process by providing comments on Exposure Drafts and other IASB pronouncements.
IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.