ACCA and AFAA sign agreement

ACCA (the Association of Chartered Certified Accountants) - the worldwide body for professional accountants - and the AFAA (the Arab Federation of Accountants and Auditors) have signed an MoU (Memorandum of Understanding) to strengthen ties between the two highly appreciated organisations.

The contract was signed at the Accounting and Auditing Profession in the Arab World event, hosted by AFAA in Cairo. Head of ACCA Middle East, Lindsay Degouve de Nuncques signed the MoU on behalf of ACCA and Mr Hatem Kawasmy, chairman of the AFAA board and Dr Farid Fawzy, member of AAA (Accountants and Auditors Association) signed on behalf of AFAA.

Lindsay said: "AFAA is an exceptional organisation which supports accountants and auditors throughout the region and ACCA has more than 3,000 members in the Middle East.

"It is natural that two organisations who work to support finance experts throughout the Middle East have come together to sign this MoU. The agreement will bring fantastic benefits to members of both organisations through joint ventures such as providing particular certifications that are recognized as essential to the advancement of the accountancy profession in the region such as IFRS (International Financial Reporting Standards).".

ACCA has a number of arrangements in place with other organisations across the Middle East, including the UAE Auditors and Accountants Association, the Egyptian Society of Accountants and Auditors, the Iranian Association of Certified Public Accountants, the Jordanian Association of Certified Public Accountants and the Dubai Financial Services Authority, all focusing on reinforcing the accountancy profession in the region.