Regional SMO Workshop Highlights Opportunities for Collaboration

Feb 16, 2017 | English

Opportunities, lessons learned, and ongoing challenges in the adoption and implementation of international standards and best practices across the Middle East and North Africa (MENA) region were recently explored during a Statements of Membership Obligations (SMOs) workshop held in Sweimeh, Jordan, on January 21. A number of common concerns highlighted the importance of, and clear opportunities for, collaboration to drive solutions that benefit current and future auditors and accountants.

The workshop facilitated a cross-border exchange of experiences, ideas, and solutions, and highlighted the possibilities for regional cooperation to address challenges such as:

  • fragmented and outdated legal frameworks;
  • a need to define small- and medium-sized entities and implement suitable standards;
  • keeping adopted international standards up to date;
  • a lack of unified and timely translations;
  • insufficient technical and financial resources; and
  • inadequate resources for independent quality assurance and investigation and discipline systems.

The workshop, held in cooperation with the Jordanian Association of Certified Public Accountants (JACPA) and the World Bank Group’s Global Governance Practice, included more than 55 representatives from 27 organizations in the MENA region, including 20 professional accountancy organizations. Representatives from the Gulf Cooperation Council Accounting and Auditing Organization, Pan African Federation of Accountants, and the Arab Federation of Accountants and Auditors also participated to discuss regional issues and share their experiences.

Workshop presentations are available below. 

  • Strengthening Quality and Support for IFAC Membership (English)
  • Yemen Association for Certified Public Accountants: Proactivity in IFRS Adoption and Implementation (English)
  • Promoting the Adoption of IPSAS in Palestine ­– PACPA’s Experience (English)
  • La régulation indépendante de l’audit en Tunisie: le débat continue (French)
  • Kuwait Association of Accountants and Auditor’s Involvement with Government Regulators to Support an Investigation and Discipline System (Arabic)
  • Lebanese Association of Certified Public Accountants: Supporting Implementation of IESBA Code of Ethics during the Adoption Process (English)
  • JACPA’s Professional Development and Certification of Accountants and Auditors (English)

 

Detailed discussion notes, including challenges and solutions in a number of different areas, are also available.

IFAC staff will soon publish an article on the Global Knowledge Gateway detailing the workshop and learnings. Subscribe to Gateway to receive updates.

 
 

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