Yemeni Association of Certified Public Accountants

The Yemeni Association of Certified Public Accountants (YACPA) has shared responsibility for quality assurance (QA) under Council of Ministers Resolution No. 51 of 2019, which introduced mandatory QA reviews for statutory audits and assigned YACPA responsibility for establishing and operating the QA review system under the oversight of the Ministry of Industry and Trade (MIT).

YACPA has continued to support development of the QA system through advocacy with MIT, member outreach, and implementation support. It finalized the QA framework with World Bank support in 2022, engaged members, audit firms, the Central Bank of Yemen, the Central Organization for Control and Auditing, and MIT on the importance of QA, and provided MIT with the SMO 1 checklist in Arabic. YACPA has also delivered continuing professional development on QA-related topics, including training on International Standard on Quality Management 1 and International Standard on Quality Management 2, and has sought regional support from professional accountancy organizations in Jordan, Saudi Arabia, and Kuwait to build capacity for future QA reviews.

The jurisdiction-level framework is designed to align with SMO 1, and relevant quality management standards are adopted. However, the QA review system does not yet appear to be fully operational, and no public evidence was identified confirming that mandatory QA reviews are being conducted on a recurring basis for all statutory audits. YACPA reports that implementation is expected to begin with voluntary reviews, subject to available financial and technical support.

YACPA is encouraged to continue working with MIT to operationalize the QA review system, confirm the review cycle and procedures, complete initial reviews, and demonstrate how the system aligns with SMO 1 requirements.

Current Status: Execute

The Yemeni Association of Certified Public Accountants (YACPA) has shared responsibility for professional accountancy education under the Audit and Review of Accounts Law No. 26 of 1999 and Council of Ministers Resolution No. 51 of 2019. The legal framework establishes entry requirements for Certified Public Accountants (CPAs), including a bachelor’s degree in accounting, practical experience, completion of the CPA examination, and good standing requirements.

YACPA administers the CPA examination, delivers continuing professional development (CPD), and supports professional education and training for members. YACPA’s website continues to show active member services, directories, and professional development activities.

YACPA participated in an International Education Standards (IES) alignment project with IFAC and the International Panel on Accountancy Education in 2022 and identified gaps against the 2019 revised IES. Since then, YACPA reports that it has completed the IES checklist in Arabic, engaged with universities and the Ministry of Higher Education to promote curriculum updates, and provided universities with Arabic-language international standards and guidance for incorporation into accounting curricula.

YACPA also reports that the Public Accountants Permitting Committee approved a requirement for members to complete 40 hours of CPD annually for license renewal, effective from 2022. YACPA supports implementation by issuing member guidance on calculating CPD hours and making annual webinars available to members.

YACPA is encouraged to document the results of its IES gap analysis in its SMO Action Plan, prioritize actions to address remaining gaps in university curricula, CPA examinations, practical experience, CPD monitoring, and engagement partner competence, and continue working with regulators and universities to align the jurisdiction-level framework with current IES requirements.

Current Status: Execute

The Yemeni Association of Certified Public Accountants (YACPA) has sustained its role in promoting and supporting the adoption and implementation of International Standards on Auditing (ISA) and other pronouncements issued by the International Auditing and Assurance Standards Board (IAASB). Council of Ministers Resolution No. 51 of 2019 requires ISA and related pronouncements as issued by the IAASB for all mandatory audits in Yemen.

YACPA supports implementation by providing members with Arabic translations of IAASB pronouncements, notifying members of new and revised standards, and incorporating ISA-related topics into its continuing professional development program. YACPA also works with universities and the Ministry of Higher Education to encourage incorporation of current ISA into accountancy curricula.

The 2025 Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements is the current IAASB Handbook and is available in Arabic. It includes ISA, International Standards on Quality Management, the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities, and International Standard on Sustainability Assurance 5000.

YACPA is encouraged to clarify whether ISA for LCE has been formally adopted, and continue supporting members with implementation of new and revised IAASB pronouncements.

Current Status: Sustain

The Yemeni Association of Certified Public Accountants (YACPA) has sustained its role in promoting and supporting implementation of the International Code of Ethics for Professional Accountants, including International Independence Standards, issued by the International Ethics Standards Board for Accountants (IESBA). Council of Ministers Resolution No. 51 of 2019 requires all professional accountants in Yemen to comply with the Code and related IESBA pronouncements.

YACPA supports implementation by providing members with Arabic translations of the Code, incorporating ethics-related topics into continuing professional development, updating its Certified Public Accountant curricula to reflect international standard-setting developments, and notifying members of new and revised IESBA pronouncements through its e-Journal and social media platforms. The 2024 Handbook of the International Code of Ethics for Professional Accountants is available in Arabic through the IFAC Translations Database, and YACPA indicates that the 2024 Handbook is in effect in Yemen.

YACPA also reports that it provides government stakeholders, including the Ministry of Industry and Trade, Ministry of Legal Affairs, and Ministry of Justice, with updates and clarifications on revisions to the Code, and works with universities and the Ministry of Higher Education to incorporate current ethical requirements into accountancy curricula. YACPA monitors members’ compliance with ethical requirements and supports investigation and discipline processes in accordance with the Audit and Review of Accounts Law No. 26 of 1999.

YACPA is encouraged to continue timely use of the latest Arabic translation of the Code, supporting member implementation of new and revised IESBA pronouncements, and strengthening links between ethics compliance, continuing professional development, and investigation and discipline processes.

Current Status: Sustain

The Yemeni Association of Certified Public Accountants (YACPA) has no direct responsibility for adopting public sector accounting standards in Yemen. Public sector accounting requirements are established by government authorities, including the Ministry of Finance and the Central Organization for Control and Auditing. Public sector entities continue to apply national public financial management and accounting requirements, and no public evidence was identified that International Public Sector Accounting Standards (IPSAS) have been adopted.

YACPA reports that it continues to use its best endeavors by engaging government stakeholders on the benefits of IPSAS adoption, raising awareness through continuing professional development, and providing public sector accounting training and information to members and government staff. YACPA has also previously participated in discussions with COCA and communicated with relevant authorities to encourage consideration of IPSAS adoption.

The 2025 Handbook of International Public Sector Accounting Pronouncements is the current IPSASB Handbook and contains IPSAS published as of January 31, 2025. YACPA is encouraged to continue monitoring IPSASB developments and sharing relevant resources with members and public sector stakeholders.

YACPA is encouraged to continue engaging the Ministry of Finance and COCA to promote IPSAS awareness, identify practical capacity-building opportunities for public sector accountants, and document a targeted plan of activities to support future consideration of IPSAS adoption.

Current Status: Sustain

The Yemeni Association of Certified Public Accountants (YACPA) has shared responsibility for investigation and discipline (I&D) under the Audit and Review of Accounts Law No. 26 of 1999, as amended in 2004. The Law empowers the Ministry of Industry and Trade (MIT) to establish a Disciplinary Council for professional accountants and provides for sanctions in cases of professional misconduct.

In September 2020, MIT approved YACPA’s proposal for a joint I&D mechanism between the Public Accountants Permitting Committee and YACPA. Under this mechanism, complaints are referred to a joint Investigative Committee, and YACPA’s Disciplinary Council imposes sanctions on members with oversight from the Public Accountants Permitting Committee. The Disciplinary Committee was established and operationalized in 2021.

YACPA has also developed internal procedures to address professional and ethical complaints against members, communicates ethical and professional requirements to members through its Certified Public Accountant program and webinars, and provides public information on how to submit complaints. YACPA reports that complaints have increased, indicating greater awareness of the I&D process.

YACPA completed a self-assessment of the jurisdiction-level I&D framework against SMO 6 requirements and identified gaps related to the scope of the system, initiation of proceedings, investigative and disciplinary processes, and public interest considerations. No public evidence was identified that these gaps have been fully addressed or that a state-level Disciplinary Council has been established.

YACPA is encouraged to continue working with MIT and relevant judicial authorities to address the identified SMO 6 gaps, strengthen transparency and independence in the I&D process, and document progress in operationalizing a jurisdiction-level system aligned with SMO 6.

Current Status: Execute

The Yemeni Association of Certified Public Accountants (YACPA) has shared responsibility for supporting the adoption and implementation of IFRS Accounting Standards in Yemen. Council of Ministers Resolution No. 51 of 2019 requires IFRS as issued by the International Accounting Standards Board for public interest entities and adopts the IFRS for Small and Medium-sized Entities Standard. The IFRS Foundation jurisdiction profile confirms that IFRS Standards and the IFRS for SMEs Standard have been formally adopted in Yemen.

YACPA supported the adoption process through advocacy with government stakeholders and technical input to the development of Resolution No. 51 of 2019. YACPA continues to support implementation by incorporating current IFRS requirements into education and training materials, reviewing Arabic translations under its IFRS Foundation licensing arrangements, providing training programs and guidance to members, and encouraging members to comment on exposure drafts. YACPA has also worked with Small and Micro Enterprise Promotion Services to raise awareness of the IFRS for SMEs Standard among small and micro-sized enterprises.

YACPA is encouraged to continue supporting timely implementation of new and revised IFRS Accounting Standards, expand practical implementation support for the IFRS for SMEs Standard, and monitor developments related to IFRS Sustainability Disclosure Standards as part of the revised SMO 7 scope.

Current Status: Sustain