Finance Professionals in the UAE Are Urged To ‘Think Local and Act Global’ As the Country Continues To Become A Key Global Financial Hub
Dubai, United Arab Emirates.-Thursday, March 22nd 2018 [ AETOS Wire ]
ACCA (Association for Chartered Certified Accountants) recognised over 200 members in the UAE who achieved a momentous professional milestone by becoming ACCA members. They were honored at an event held at the Address Dubai Mall on the evening of 21 March which was attended by leading businesses, finance professionals and the corporate community of the UAE.
The individuals who were honored have completed the ACCA qualification by passing all their exams, along with completing three years of practical work experience and the Professional Ethics module. Their commitment to education and providing invaluable insight to further develop the business landscape in the UAE further enabled them to achieve membership status.
By becoming ACCA members, they are now part of a global professional body with a reputation for driving global standards of professionalism, ethics, integrity and accountability.
Lindsay Degouve de Nuncques, Head of ACCA Middle East, opened the event, after which the attendees heard from Khalid Hamid from the State Audit Institution who emphasised the growing importance of embracing technological and innovative changes within the qualification.
During the event, ACCA awarded organisations and individuals who have continued to drive significant value within the profession and the UAE, namely Thomson Reuters for driving VAT insights in collaboration with ACCA; Cynthia Corby for her ongoing role and commitment to leading the Women in Finance Forum; Dr Khalid Maniar for his commitment to the accounting profession in the UAE and Dr Mamoon Ali Dongula who was awarded the 2018 Advocate of the year award, given to individuals who continue to advocate ACCA and the accounting profession.
Further supporting the UAE’s Vision 2021, ACCA also recognised nine UAE national employees of ADNOC who attained membership. This makes ADNOC one of the largest employers of UAE Emiratis in the country who are certified by ACCA.
Lindsay Degouve de Nuncques, head of ACCA Middle East stated:
“The accounting profession has undergone some significant changes during the course of the year and continues to be impacted by new technological solutions such as automation, AI and cryptocurrencies. These technological advances will see the role of professional accountants evolving increasing the need for professional accountants to ensure they are focused on driving insights and value to industries, organisations and the wider economy.
The UAE is fast becoming the regional financial hub and therefore, it is imperative that accountants begin to ‘think local and act global’ to not only further position their organisations, but play their part in driving global and regional growth.
2018 saw the introduction of VAT across the UAE amongst various other accounting changes, as the government continues to drive Vision 2021 forward – we must all play a role in ensuring sustainable growth for both us, as finance professionals but for the accounting profession too. To keep one step ahead of machines and the digital economy, education and training systems should focus on the kind of creative thinking or human interaction skills that artificial intelligence cannot yet easily replicate. Therefore, professional accountants in the UAE need to ensure they further strengthen their professional quotients to drive locally relevant insights for an ever changing globalised world.”
Notes to Editors
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
ACCA supports over 200,000 members and 480,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 100 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com
Nav Kaur, Regional Marketing Manager, +97143642139