Business

The General Authority of Zakat and Tax (GAZT) currently signed a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA). The MoU objectives to assist GAZT enhance their capabilities in accounting and financial services, as well as supporting joint development efforts between each parties, launch joint programs and coaching for experts working in relevant departments within GAZT.

The agreement was signed at the General Authority for Zakat and Tax (GAZT) headquarters in Riyadh, in the presence of HE Eng. Suhail bin Mohammed Abanmi, Governor of GAZT, and Ms. Fazeela Gopalani, Head of ACCA Middle East.

The MoU will enable both parties to discover potential areas of cooperation, construct expertise and promote a higher grasp of International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) amongst finance and accounting professionals. It additionally targets at making sure the implementation of joint events in accountancy and finance and offering access to ACCA's expert improvement guidance and learning resources.

Under the MoU, the General Authority of Zakat and Tax (GAZT) will have the chance to tap into ACCAs massive resources especially associated to expert accountancy qualifications, particularly the Certificate in International Auditing (Cert IA), the Certificate in International Public Sector Accounting Standards in Arabic (Cert IPSAS) and the ACCA latest Certificate in Public Financial Management (Cert PFM) for finance and accounting professionals. The MoU allows both parties to collaborate on the joint development of techniques and events (conferences, forums, panel discussions and roundtables) for finance and accounting experts at GAZT and ACCA, in addition to marketing campaigns.

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