Doha, October 21 (QNA) – The Chairman of Qatar Association of Certified Public Accountants (QCPA) Dr. Hashim Al-Sayed, confirmed that the issuance of the rules of conduct and ethics of the profession for its members falls within the framework of the association’s keenness to improve the profession of accounting, and auditing, and to maintain professional ethics.
The Qatar Association of Certified Public Accountants had announced earlier this October that it had issued a code of professional conduct and ethics for its members.
Dr. Al-Sayed said in a statement to Qatar News Agency (QNA) that among the most prominent features of the rules and ethics of practicing the profession of certified accountants in Qatar, which were covered by the issuance, are those related to credibility and integrity, objectivity and independence, professional competence and necessary care, responsibility and confidentiality.
He stressed that the formulation of rules is not enough by itself, but rather requires adherence to them, indicating that the Association seeks in general to develop the profession of accounting and auditing in the State of Qatar through several areas such as training and continuous development of accountants and auditors and coordination with the concerned authorities to overcome any difficulties facing the profession.
He explained that this development includes introducing constructive initiatives and proposing policies necessary to develop the profession, as well as holding specialized professional conferences in cooperation with international experts and specialists, holding meetings with specialists in the country and working to issue periodic publications.
Dr. Al-Sayed identified a set of requirements for the profession to play its role in the fullest, including the observance by its practitioners of the rules of ethical behavior, which is an important element of the profession.
He pointed out that the public’s confidence in the quality of services provided by the accounting profession is an important factor in its success, and that the public’s confidence in the fairness of the financial statements is great when prepared in accordance with the standards and ethics of the accounting and auditing profession.
Dr. Hashim Al-Sayed pointed out that the association’s obtaining of the membership of the International Federation of Accountants (IFAC) requires it to issue and translate the latest standards and code of conduct and updates to develop the profession in the State of Qatar in line with international rules and developments.
He explained that the rules of ethical conduct seek to achieve a set of strategic goals in the accounting and auditing profession, including upgrading the accounting and auditing profession and enhancing its position in society, developing a spirit of cooperation between professional accountants and taking care of their material and moral interests, as well as strengthening the confidence and trust in the hearts of the public concerned with services and preparing good financial statements, limiting the practices of analysis and manipulation of accounting policies, as well as detecting any manipulation in the financial statements, and completing the legislative and legal requirements of the accounting profession.
In a related context, he pointed out that the rules of ethical conduct aim to reduce the level of risks to which the accounting and auditing profession is exposed, maintain the efficiency, integrity and effectiveness of financial statements, optimize the investment of resources and protect the national economy, and determine the accountant’s responsibility to meet the needs of clients and the employer and activate the public interest.
The Chairman of Qatar Association of Certified Public Accountants (QCPA) Dr. Hashim Al-Sayed stressed that the association believes that the rules of conduct and ethics of the profession are among the most important necessities of the profession and ethical and professional work because it preserves the rights of accountants and service providers, especially since accountants and auditors are informed of essential data and balances of entities and companies, stressing the need for credibility, honesty and ethics stipulated in the code. (QNA)
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