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AMMAN------ June 29, 2015-------- The International Arab Society of Certified Accountants (IASCA) was awarded the bid for designing the training curricula which will be accredited by the “Arab Audit Institute,” an entity established recently by the Jordan Audit Bureau.

The awarding agreement was signed by HE Dr. Talal Abu-Ghazaleh- IASCA chairman, and Dr. Mustafa Al Barari, president of Jordan Audit Bureau, in a meeting held at the Bureau’s headquarters. 

Dr. Al Barari said that this agreement has been concluded within the context of the World Bank’s grant provided through the Institutional Development Fund, noting that the $250000 grant is dedicated for a three-year capacity building project of the Audit Bureau in line with the instructions of His Majesty King Abdullah II bin Al-Hussein, stressing that the agreement represents a role model of the partnership between the public and private sectors.

He also added that the main topics covered in this agreement include development and design of training materials on International Internal Audit (IIA) Standards, International Public Sector Accounting Standards, Information Technology Control, Bidding and Procurement Procedures, and Audit of Final Accounts of the State and Independent Government Units.

The Arab Audit Institute aims at graduating highly qualified staff in government accounting, audit, internal audit and financial management. To achieve this purpose, the Institute shall work on the development and training of public service employees and senior management in the public sector audit. Accordingly, the Institute’s plan for the first five years of operation will focus on organizing professional training and qualification courses, including CIA, CPA, JCPA, CMA, CISA, IACPA as well as any international professional program that may be needed in the future, according to Al Barari.   

Dr. Abu-Ghazaleh affirmed that establishing the Institute is a crucial milestone in the field of public-private sectors partnership recommended by His Majesty King Abdullah II. IASCA and the Audit Bureau are partners in the implementation of this project, thanks to the support provided by the World Bank to the “Knowledge Bank” that constantly focuses on sustainable capacity building projects.

He also pointed out that IASCA will develop training programs according to the International Standards on Auditing; noting that it is one of the professional standards publications issued by the Society in Arabic. IASCA annually re-issue such publications including the most recent updates on the international standards, as well as all accounting standards. Abu-Ghazaleh also indicated that the staff in public and private sectors will receive training, particularly after the  Government’s decision of adopting the International Public Sector Accounting Standards, extending his thanks and appreciation to the Minister of Finance for this important and courageous decision.

He also emphasized that the application of International Public Sector Accounting Standards will provide the Government with one accounting point of reference and a financial disclosure model that is understandable, readable and manageable and can serve as a basis for officials’ accountability.  It will also contribute to improving quality of deci