MOCI Convenes Inaugural Forum To Discuss Auditors' Encountered Challenges

Doha, Qatar: The Ministry of Commerce and Industry (MOCI) organized the inaugural Forum to discuss the challenges facing auditors, bringing together a contingent of specialists and experts in the field of accounting and auditing, as well as representatives of MOCI and professional and academic entities.

In a statement issued Monday, MOCI affirmed that convening the forum was part of its commitment to advancing the auditing profession, identifying the foremost professional, regulatory, and technical challenges encountered by those working in this field, in light of rapid economic developments and the growing digital transformation.

The statement added that the event intended to address these challenges, thereby contributing to enhancing the profession, as well as the quality of professional performance, and adhering to international standards.

Participants addressed myriad themes related to the auditing profession, weighing in on the challenges auditors encounter in their work based on practical experience, in addition to examining avenues for fostering channels of communication and interaction between MOCI and auditors to help forge a professional partnership based on transparency and collaboration.

They also debated the key challenges and impediments facing this profession and put forward a raft of applicable proposals and solutions, in addition to identifying mechanisms to enable the Ministry, in tandem with the Qatar Association of Certified Public Accountants, to monitor emerging challenges, in preparation for taking them into account when fashioning future policies and plans.

The forum highlighted a set of procedures and practices that would help overcome the challenges facing the profession, boost compliance with professional standards, and support the development of the accounting work environment, contributing to raising the quality of auditing work and achieving the highest levels of transparency and reliability.

The event wrapped up with practical recommendations that help develop the auditing profession and optimize the quality of professional performance, as participants affirmed that continuing to convene specialized forums and strengthening collaboration among relevant entities matters most, in pursuit of augmenting auditors' efficiency, shoring up confidence in financial reports, and supporting the stability and growth of the national economy.

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