Accountancy and Finance profession specialists ICAEW and the Bahrain Accountants Association (BAA) have signed a memorandum of understanding (MoU) to support the growth of the accounting profession in the kingdom.

Both organisations have committed to work together to promote a sound and sustainable accounting and finance profession by sharing their knowledge, improving professional and intellectual development and the interests of their respective members and positively contributing to the development of the accounting profession in Bahrain, said a report in the Gulf Daily News (GDN), our sister publication.

The agreement was signed BAA chairman Abbas Al Radhi and ICAEW executive director of professional standards and development Vernon Soare.

It places special emphasis on co-operation in respect of providing the industry and professionals with access to relevant research and development.

“The BAA looks forward to working closely with ICAEW to share experience on the accountancy profession,” Al Radhi said.

“We are excited to be co-operating on initiatives that will help create a strong, sustainable accounting and finance profession in Bahrain.

“Both bodies will be able to capitalise on each other's strengths in order to achieve this aim,” he added.

“We are delighted to be embarking on this mutually beneficial alliance with the BAA,” Soare said.

“We are looking forward to aligning our visions, and sharing our expertise, to bolster the development of the accountancy profession in Bahrain.

“This partnership marks a milestone in the country's journey towards creating an accounting and finance sector which is on par with international counterparts,” he added.

Both organisations will also support each other to develop local talent through identifying professionals to join ICAEW as members upon successful completion of the course of study for the prestigious ICAEW Chartered Accountant qualification.

Internationally recognised as a premier financial business qualification in 160 countries around the world, the ICAEW Chartered Accountant qualification is held by more than 144,000 professionals. - TradeArabia News Service