The Abu Dhabi Accountability Authority (ADAA) has announced that it will be hosting the board meeting of the International Ethics Standards Board for Accountants (IESBA) in the capital for the first time in the Middle East. The event will be attended by more than 55 international participants from 13-17 March 2023.
IESBA is the globally recognized, independent body that is in the vanguard of ethics standard-setting for the global accountancy profession. Its International Code of Ethics (IESBA Code) contains a set of high-quality standards, including requirements addressing auditor independence, that set a high bar of ethical behavior for all professional accountants.
The IESBA Code has been adopted or is used in over 130 jurisdictions around the world and has been adopted by the 33 largest international networks of accounting firms for transnational audits (the Forum of Firms).
Commenting on the importance of Abu Dhabi hosting this major event, Wael Abdul Qader, Head of the Audit Affairs Sector at ADAA, said: “It is an honor to be hosting the prestigious International Ethics Standards Board for Accountants for its board meeting for the first time in the region. By hosting this event, we are positively contributing to the global efforts to develop robust ethics standards and promote the adoption of the IESBA Code and its consistent application by professional accountants all over the world.
“Through this major event, ADAA further enhances its vigorous efforts to be actively involved in local, regional and global endeavors to raise audit quality for the protection of public funds, including through raising awareness of the principles of accountability, integrity and transparency.”
Gabriela Figueiredo Dias, IESBA Chair, said: “The centrality of ethics to public trust in institutions, business and corporate reporting has become unquestionable against the backdrop of high-profile corporate scandals. With the increasing market focus on sustainability, ethics has become even more important in underpinning transparent, relevant and trustworthy sustainability information. We have an iron-clad commitment to deliver strong, innovative ethics and independence standards in the public interest, thereby contributing to more sound and sustainable financial markets for the benefit of economies, society, and the planet.
“I am truly honored and gratified that ADAA will host the IESBA’s first-ever board meeting in the Middle East. We look forward to building a strong working relationship and fruitful collaboration with ADAA in support of our shared public interest objectives.”
Abu Dhabi Accountability Authority’s task, as an independent body, is to ensure the most efficient use and protection of all public funds and resources across Abu Dhabi government entities according to the principles of good governance and send a very clear message to those who may indulge in malpractice.