At an event patronised by His Excellency Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, the UAE Accountants and Auditors Association (AAA) and ACCA (the Association of Chartered Certified Accountants), the global body for professional accountants, signed a strategic partnership to develop the UAE chartered accountant certificate that supports the government’s drive to promote the qualification of UAE nationals.
The strategic partnership, signed by Saif bin Abed Al Muhairi, Chairman of AAA and by ACCA President Martin Turner and witnessed by Mohammed Ahmed bin Abdul Aziz Al Shehhi, Undersecretary, UAEMinistry of Economy builds on a Memorandum of Understanding agreed in November 2013.
As part of this partnership, the ACCA Qualification will form the basis of the new national chartered accountant qualification, entitling those participating to an internationally-recognised qualification and eligibility for both AAA and ACCA memberships. The qualification will consist of exams, practical experience and ethics modules.
As part of the partnership, the AAA and ACCA will also run joint events and conferences to examine key issues for the accountancy and finance professions in the UAE, the wider region and internationally.
Mr. Saif bin Abed Al Muhairi, Chairman of AAA commented: 'We are confident that this partnership is a milestone for the accounting and finance profession in UAE. The global knowledge of ACCA, the local expertise and reach out of AAA and the country vision to excel in financial services are existing pillars of success.'
ACCA President Martin Turner said: 'ACCA is delighted to have signed this strategic partnership with AAA. We look forward to working closely with a professional body which we hold in the highest regard, to further enhance the accountancy profession in the UAE. There is a significant need for finance professionals in the UAE as the economy continues to grow and diversify and we are excited about supporting the development of the profession in the region.
'ACCA is proud that, through this agreement, it has an opportunity to support the UAE’s vision to be the region’s leading financial centre and to support the UAE government’s focus to promote the qualification of UAE nationals, as part of the excellent Emiratisation initiative.'
Ahmad Darwish, Chairman of the Members' Advisory Committee for ACCA UAE and Head of Chartered Accountants Committee of AAA said: 'The excellent qualification that this partnership will develop will create new opportunities for future generations of Emiratis, enabling the UAE to further establish itself as a leading financial services hub with highly qualified, globally aware finance professionals.'
Bassel Nadim CEO of AAA said: 'We are well positioned to jointly drive this collaboration with ACCA and bring significant value to the finance sector in UAE.'