Riyadh, Saudi Arabia, 2 February 2020, (AETOSWire) : The General Authority of Zakat and Tax (GAZT) recently signed a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA). The MoU aims to support GAZT develop their capabilities in accounting and financial services, as well as supporting joint development efforts between both parties, launch joint programs and training for professionals working in relevant departments within GAZT.
The agreement was signed at the General Authority for Zakat and Tax (GAZT) headquarters in Riyadh, in the presence of HE Eng. Suhail bin Mohammed Abanmi, Governor of GAZT, and Ms. Fazeela Gopalani, Head of ACCA Middle East.
The MoU will allow both parties to explore potential areas of cooperation, build knowledge and promote a better understanding of International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) amongst finance and accounting professionals. It also aims at ensuring the implementation of joint events in accountancy and finance and providing access to ACCA’s professional development guidance and learning resources.
Under the MoU, the General Authority of Zakat and Tax (GAZT) will have the opportunity to tap into ACCA’s vast resources particularly related to professional accountancy qualifications, especially the Certificate in International Auditing (Cert IA), the Certificate in International Public Sector Accounting Standards in Arabic (Cert IPSAS) and the ACCA latest Certificate in Public Financial Management (Cert PFM) for finance and accounting professionals. The MoU enables both parties to collaborate on the joint development of strategies and events (conferences, forums, panel discussions and roundtables) for finance and accounting professionals at GAZT and ACCA, in addition to marketing campaigns.