The International Federation of Accountants (IFAC®), the global organization for the accounting profession based in New York City in the United States of America, has voted unanimously to admit the Emirates Association for Accountants and Auditors, the national professional association of the accounting and auditing profession in the United Arab Emirates (UAE), as a member of the IFAC, during the fifty-fourth meeting of the IFAC Council held during the current month of November 2021.
IFAC is composed of 180 professional accountancy organizations - from 135 countries and jurisdictions - representing more than 3 million professional accountants across the globe. IFAC aims to serve the public interest by strengthening the accounting profession and contributing to the development of global economies.
On this occasion, His Excellency Riyad Abdul Rahman Al Mubarak, The Honorary President of the Emirates Association for Accountants and Auditors, said: “We are very pleased with this achievement, which was the result of continuous and unremitting efforts that the Association has worked on for more than two consecutive years to obtain this membership. This membership comes as part of a strategic plan to develop the accounting and auditing profession in the UAE, which is being implemented through cooperation with a number of regulatory and professional bodies in the UAE, so we thank them all for their support.”
His Excellency also stressed the need for the accounting and auditing profession community in the UAE to contribute by providing professional services and financial reports of high quality and credibility in a manner that serves the public interest and stimulates the business environment in the UAE and enhance the transparency in the financial markets.
Saif Abed Al Muhairi, Chairman of the Board of Directors of the Association, said on this occasion: "We are proud of this achievement, which will enable the Association to have a more active role in the international community of the accounting and auditing profession. This membership will enable the Association to present the UAE's experience in the field of accounting and auditing to the international arena. It will also allow the Association to benefit from fellow members experiences”.
On her part, Amna Abdulaziz Al Mahri, the General Director and Board Member of the Association, said: “The Emirates Accountants and Auditors Association is grateful for all the support and guidance provided by the staff of the International Federation of Accountants, the Abu Dhabi Global Market Authority, the Dubai Financial Authority, the Association of Chartered Certified Accountants (ACCA) and everyone who helped us to achieve this. The association will continue to work with its stakeholders in the UAE to develop the accounting and auditing profession and support the development of the UAE nationals in the profession."
It is worth noting that the Emirates Association for Accountants and Auditors was established in the United Arab Emirates in 1997. It is a non-profit professional association that aims to serve the public interest by developing the accounting and auditing profession and supporting capacity building and national cadres in line with best practices and international standards. The Association, which has more than two decades of experience, works with regulatory, professional and academic bodies and practitioners of the accounting and auditing profession inside and outside the UAE to achieve its goals, which will reflect positively on the national economy and society.