(MENAFN - The Peninsula) The Peninsula
The Institute of Chartered Accountants of India (ICAI) Doha Chapter conducted a seminar titled ‘Internal Controls over Financial Reporting (ICOFR) as per Qatar Financial Market Authority (QFMA) at the Holiday Inn Doha The Business Park recently.
Around 110 members of the group who are finance professionals in senior positions in various businesses and organizations across Qatar attended the event.
ICAI Doha Chairperson CA Rukkaiya Pachisa, in her opening remarks thanked the members for their participation. She also emphasised that good governance determines the functions and responsibilities of the Board of Directors, Senior Executive Management, and employees of the company in upholding the interests of the public, the company, and its stakeholders over personal interests.
During the seminar, CA George Abraham, Manager at E & Y Qatar, explained the meaning of Internal Controls and its underlying responsibilities and compliance with QFMA Requirements. He stressed that each one in an organization is responsible for the controls and detailed the methodology to ICOFR in an hour-long session.
The ICAI Doha Chapter was established in 1981 and is the oldest among the 33 ICAI overseas chapters. The current membership of the Chapter is approximately 300, who hold key positions in private and public sector establishments in Qatar and are actively involved in support and development of accounting profession in Qatar.
The Chapter is actively involved in enhancing and updating the professional knowledge of its members, local professionals and non-members. ICAI Doha is the first professional membership body to be registered with Qatar Financial Centre.