Qatar Steps Up Its Efforts To Strengthen Auditing Profession

The Ministry of Commerce and Industry (MoCI), in cooperation with the Qatar Association of Certified Public Accountants, organised the second forum to discuss challenges facing the auditing profession.

The forum was attended bySaleh Abdullah Al Mana, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry, alongside members of the Association, the Ministry’s Auditors Committee, a group of accounting and auditing specialists and experts, and representatives of professional and academic institutions.

The forum followed the first meeting held during the first half of this year and reflected the Ministry’s commitment to maintaining dialogue with auditors and relevant professional bodies and strengthening cooperation to advance the auditing profession.

These efforts focus on monitoring the challenges facing the profession and identifying appropriate solutions to support its development and enhance the quality of auditing practices.

The forum reviewed the key challenges discussed during the first meeting and the measures taken to address them.

Participants also discussed current challenges faced by auditors in carrying out their duties and explored ways to address them in light of rapid economic and technological developments and relevant professional and regulatory requirements.

In the Ministry’s address,Ahmed Mohammed Al Marzouqi, Director of the Companies Affairs Department, reaffirmed the Ministry’s commitment to maintaining dialogue and engagement with various sectors, particularly those playing a significant role in the business ecosystem.

He highlighted the importance of discussing challenges facing the auditing profession and drawing on specialists’ insights to identify practical solutions that contribute to its development and facilitate professional practice.

He also stressed the need for audit firms to comply with the legal and regulatory procedures and requirements governing the profession, thereby enhancing the quality of audit services and strengthening trust and transparency in the business environment.

For his part, Dr. Talal Sabah Al Abdullah, Secretary and Board Member of the Qatar Association of Certified Public Accountants, reaffirmed the Association’s commitment to enhancing the quality of audit work and raising professional standards among auditors, contributing to the preparation of high-quality audit reports and strengthening confidence and transparency in financial reporting.

The forum provided an opportunity for participants to exchange views and expertise and discuss proposals and practical solutions to the challenges raised.

Participants also explored ways to strengthen communication and engagement between auditors and relevant stakeholders, supporting professional partnerships, facilitating the identification of emerging challenges, and ensuring that feedback and proposals are considered when developing procedures and policies related to the profession.

The forum emphasised the importance of continuing to hold specialised meetings, strengthening coordination and cooperation between the Ministry of Commerce and Industry, the Qatar Association of Certified Public Accountants, and auditors, and following up on the challenges and proposals raised.

These efforts aim to overcome obstacles facing the profession, improve professional efficiency, enhance the quality of audit work, and strengthen the reliability of financial reporting.

At the conclusion of the forum, participants expressed their thanks and appreciation to the Ministry of Commerce and Industry for its initiative in opening new channels of cooperation and communication with audit firms, as well as its commitment to developing the profession and addressing the challenges faced by accounting and auditing firms.