MoCI convenes second forum to take up challenges facing Auditing profession

Detailed summary

The Ministry of Commerce and Industry (MOCI) collaborated with the Qatar Association of Certified Public Accountants (QCPA) to hold its ...

Doha, Qatar: The Ministry of Commerce and Industry (MOCI) collaborated with the Qatar Association of Certified Public Accountants (QCPA) to hold its second forum to address the challenges facing the auditing profession, bringing together Assistant Undersecretary for Commercial Affairs at MOCI, Saleh Abdullah Al Mana, members of QCPA and the Ministry's Auditors Committee, a contingent of experts in accounting and auditing, and representatives of professional and academic bodies.

The forum took up the foremost challenges and the measures taken to address them, as well as the substantive challenges currently facing auditors in carrying out their work.

Delegates also discussed ways to address these challenges in light of rapidly evolving economic and technological developments and related professional and regulatory requirements.

Director of the Corporate Affairs Department at MOCI, Ahmed Al Marzouqi, said the Ministry is committed to persistently engaging with multiple sectors, particularly those of importance within the business architecture. He highlighted the importance of exploring the challenges facing the auditing profession and drawing on specialists' perspectives to put forward practical solutions that substantially contribute to advancing the profession and facilitating its practice.

It is quite important for auditing firms to consistently hew to the statutory procedures and requirements governing the profession, thereby bolstering the quality of auditing services and reinforcing trust and transparency in the business environment, Al Marzouqi underlined.

For his part, Secretary of QCPA and a member of its board of directors, Dr. Talal Sabah Al Abdullah, underscored that the association is committed to bolstering the quality of auditing work and elevating auditors' professional standards, emphasizing that these efforts contribute to issuing high-quality reports and reinforcing trust and transparency in financial reporting.

The forum featured an exchange of views and…

Opening of the article, excerpted from The Peninsula. To read the rest, open the article on the publisher's site.