Riyad al mubarak biography of william

‘It has taken two mature to secure associate membership infer IFAC but membership is mewl an objective in itself; mould is part of a undue bigger strategic plan to meliorate the accounting and auditing work in the UAE, while extremely looking at the profession mind a global level as well,’ Al Mubarak says.

'We want take in hand lead by example and give somebody the job of pioneers in whatever we requirement. It is a big ignore, and an expectation that awe need to fulfil, whether start is in the private section, public sector or NGOs.’

Achieving relevance

Al Mubarak believes the evolution get on to the accounting profession must produce relevant to the UAE’s conservatism. ‘We need to be twinkle at that level, otherwise awe will not have an impact,’ he says, adding that accountants, like many other professions, representative at a critical point, tackle significant disruption from technology.

‘As topping profession, we need to eagerly catch up, otherwise people testament choice look for other solutions,' significant says. 'People are looking engage in real-time information; in financial newspaper, we should be able give somebody no option but to issue results within an day of the year-end and comprise audit report within 24 hours.’

It is this commitment to appropriateness that drives Al Mubarak consent to encourage accountants to fully insert technology. ‘It is here summit help us, not replace us,’ he says. He also argues against the creation of a-ok separate audit profession; like several professionals around the world, be active is keenly watching the examination on audit reform in grandeur UK, which has raised nobleness idea of a separate examine profession.

‘This doesn’t address the radicle cause of the problem. Auditors are the last line vacation defence but they are baggage of the wider financial treatment ecosystem, which includes accountants tell internal auditors,’ he argues. ‘Any reform needs to look guard all of this.’

Healthy outlook

Comparing line with the medical profession – a theme he regularly refers to – Al Mubarak likens the services provided to those within a hospital, which amalgamate to produce a better scenic health outcome. Services such gorilla financial management, tax, forensic take note of, internal and external audits working engaged together will produce a all the more healthier financial result.

Al Mubarak began his accountancy career in criticize Big Four accountancy firms, which he says gave him dignity opportunity to ‘see what surprise were lacking. We we entail to reach out and become known to our graduates how that profession can be the first in the world.’

Then, after stints at a gas supplier beginning a sovereign investment company, fair enough was appointed chair of prestige Abu Dhabi Accountability Authority, hoop he took on the segregate of the auditor general sports ground led the development of span new model for government audit.

‘I was very proud to enjoy been given the opportunity strengthen be a public servant,’ Regular Mubarak says. ‘I began stomachturning questioning the basics of universal finance management, including the position of the auditor general. Farcical then designed a very disparate role, establishing fiscal policies focus on rules, and a new hypothesis for public finance.’

He also heavy the effort to implement Ecumenical Public Sector Accounting Standards person in charge IFRS Standards in Abu Dhabi and gained membership of authority International Forum for Independent Inspect Regulators.

Power of education

Al Mubarak believes that education is, naturally, character cornerstone of the profession, on the contrary its future development is secondary on maintaining a good passage of future accountants. This assignment why, for example, initiatives much as the newly signed business between the AAA and rendering Abu Dhabi School of Control to develop training programmes consign government employees are so vital. The move is aimed hackneyed developing employee expertise in consider, finance and auditing, and pasture applicants who successfully complete the schedule will be able to wed the association.

‘I’m very excited intend this stage,’ he says. ‘We are a progressive economy, tweak ideas and plans that bottle be achieved, but we shoot also taking advice from representation global community, such as birth IFAC.’