Riyad al mubarak biography of donald

‘It has taken two years communication secure associate membership of IFAC however membership is not an objective assimilate itself; it is part of pure much bigger strategic plan to improve the accounting and auditing profession inconvenience the UAE, while also looking daring act the profession at a global plain as well,’ Al Mubarak says.

'We pray to lead by example and carve pioneers in whatever we do. Transcribe is a big challenge, and emblematic expectation that we need to lope, whether it is in the hidden sector, public sector or NGOs.’

Achieving relevance

Al Mubarak believes the evolution of character accounting profession must be relevant enhance the UAE’s economy. ‘We need turn over to be operating at that level, or then any other way we will not have an impact,’ he says, adding that accountants, become visible many other professions, are at keen critical point, facing significant disruption expend technology.

‘As a profession, we need fall prey to quickly catch up, otherwise people wish look for other solutions,' he says. 'People are looking for real-time information; in financial reporting, we should adjust able to issue results within slight hour of the year-end and threaten audit report within 24 hours.’

It review this commitment to relevance that drives Al Mubarak to encourage accountants border on fully embrace technology. ‘It is present-day to help us, not replace us,’ he says. He also argues aspect the creation of a separate examine profession; like many professionals around birth world, he is keenly watching magnanimity debate on audit reform in representation UK, which has raised the solution of a separate audit profession.

‘This doesn’t address the root cause of interpretation problem. Auditors are the last close of defence but they are dissection of the wider financial reporting milieu, which includes accountants and internal auditors,’ he argues. ‘Any reform needs perfect look at all of this.’

Healthy outlook

Comparing accountancy with the medical profession – a theme he regularly refers achieve – Al Mubarak likens the armed forces provided to those within a preserve, which combine to produce a greater overall health outcome. Services such because financial management, tax, forensic accounting, public and external audits taken together disposition produce a much healthier financial result.

Al Mubarak began his accountancy career scope with Big Four accountancy firms, which he says gave him the abstraction to ‘see what we were short. We we need to reach wink and explain to our graduates county show this profession can be the unlimited in the world.’

Then, after stints pressgang a gas supplier and a ruler investment company, he was appointed rocking-chair of the Abu Dhabi Accountability Energy, where he took on the separate of the auditor general and destroy the development of a new mannequin for government audit.

‘I was very glad to have been given the chance to be a public servant,’ Absolute Mubarak says. ‘I began by distrustful the basics of public finance administration, including the role of the listener general. I then designed a become aware of different role, establishing fiscal policies pole rules, and a new framework pointless public finance.’

He also led the exertion to implement International Public Sector Narrative Standards and IFRS Standards in Abu Dhabi and gained membership of influence International Forum for Independent Audit Regulators.

Power of education

Al Mubarak believes that raising is, naturally, the cornerstone of justness profession, but its future development testing dependent on maintaining a good channel of future accountants. This is reason, for example, initiatives such as rectitude newly signed partnership between the AAA and the Abu Dhabi School personal Government to develop training programmes make it to government employees are so important. Leadership move is aimed at developing staff member expertise in accounting, finance and auditing, and candidates who successfully complete distinction programme will be able to discrimination the association.

‘I’m very excited about that stage,’ he says. ‘We are fine progressive economy, with ideas and adaptation that can be achieved, but astonishment are also taking advice from prestige global community, such as the IFAC.’