IAA And ACCA Middle East Collaborate To Further Strengthen The Internal Audit And Accounting Profession In The UAE
MoU to further aid collaboration in driving a robust profession
The UAE Internal Auditors Association (UAE-IAA) and the Association of Chartered Certified Accountants (ACCA), headquarted in London, UK, have signed a Memorandum of Understanding (MoU) for mutual cooperation for the knowledge-enhancement of their members.
The agreement forms part of the ongoing efforts to broaden their professional knowledge by the UAE-IAA which has more than 1,700 members. The UAE accounts for about 45 per cent of the total number of internal auditors working in the region, estimated at about 7,000 auditors, of whom 22 per cent are Emirati. The ACCA has more than 208,000 members and over half a million students worldwide being an innovative and forward-thinking professional accountancy body.
The MoU was signed by Abdulqader Obaid Ali, Chairman of UAE-IAA, and Lindsay Degouve De Nuncques, Head of ACCA – Middle East.
Abdulqader Obaid Ali remarked: “Enhancing the knowledge and advancing the professional skills of our members has remained a priority for us. This MoU will contribute immensely in raising the bar of learning for all the professionals in the internal audit industry in the UAE and equipping ourselves to face the challenges now and in the future.”
ACCA represented by Lindsay Degouve De Nuncques, Head of ACCA Middle East stated: “We are delighted to sign this MOU with the UAE chapter of IIA which builds upon our global MOU. Collectively, we can ensure that both the internal audit and finance profession continues to respond to both economic and technical changes. As the profession evolves, having a diverse skillset will further equip professionals to lead the future and this MOU will enable us to add additional value – ensuring our members remain at the forefront in responding.”
The MoU is initially for a duration of two years. The ACCA, through this arrangement, has undertaken to work together with UAE-IAA in jointly developing and collaborating on key topical areas that impact members looking to enhance their practice awareness in both areas surrounding internal audit and accounting.
The internal auditors and chartered accountants, among other professionals, have been grappling with several New Age topics such as digitisation, business sustainability, governance and risks, fraud and corruption, information security, disruptive technology and Artificial Intelligence. The IAA has responded to these calls for expanding the cooperation arrangements with professional bodies like ACCA.
