Finance Professionals in the UAE Are Urged To ‘Think Local and Act Global’ As the Country Continues To Become A Key Global Financial Hub

United Arab Emirates, 22 March 2018 :( AETOSWire)- ACCA (Association for Chartered Certified Accountants) recognised over 200 members in the UAE who achieved a momentous professional milestone by becoming ACCA members. They were honored at an event held at the Address Dubai Mall on the evening of 21 March which was attended by leading businesses, finance professionals and the corporate community of the UAE.

The individuals who were honored have completed the ACCA qualification by passing all their exams, along with completing three years of practical work experience and the Professional Ethics module. Their commitment to education and providing invaluable insight to further develop the business landscape in the UAE further enabled them to achieve membership status.

By becoming ACCA members, they are now part of a global professional body with a reputation for driving global standards of professionalism, ethics, integrity and accountability.

Lindsay Degouve de Nuncques, Head of ACCA Middle East, opened the event, after which the attendees heard from Khalid Hamid from the State Audit Institution who emphasised the growing importance of embracing technological and innovative changes within the qualification.

During the event, ACCA awarded organisations and individuals who have continued to drive significant value within the profession and the UAE, namely Thomson Reuters for driving VAT insights in collaboration with ACCA; Cynthia Corby for her ongoing role and commitment to leading the Women in Finance Forum; Dr Khalid Maniar for his commitment to the accounting profession in the UAE and Dr Mamoon Ali Dongula who was awarded the 2018 Advocate of the year award, given to individuals who continue to advocate ACCA and the accounting profession.

Further supporting the UAE’s Vision 2021, ACCA also recognised nine UAE national employees of ADNOC who attained membership. This makes ADNOC one of the largest employers of UAE Emiratis in the country who are certified by ACCA.

Lindsay Degouve de Nuncques, head of ACCA Middle East stated:

“The accounting profession has undergone some significant changes during the course of the year and continues to be impacted by new technological solutions such as automation, AI and cryptocurrencies. These technological advances will see the role of professional accountants evolving increasing the need for professional accountants to ensure they are focused on driving insights and value to industries, organisations and the wider economy.

The UAE is fast becoming the regional financial hub and therefore, it is imperative that accountants begin to ‘think local and act global’ to not only further position their organisations, but play their part in driving global and regional growth.

2018 saw the introduction of VAT across the UAE amongst various other accounting changes, as the government continues to drive Vision 2021 forward – we must all play a role in ensuring sustainable growth for both us, as finance professionals but for the accounting profession too. To keep one step ahead of machines and the digital economy, education and training systems should focus on the kind of creative thinking or human interaction skills that artificial intelligence cannot yet easily replicate. Therefore, professional accountants in the UAE need to ensure they further strengthen their professional quotients to drive locally relevant insights for an ever changing globalised world.”