The launch of the third course to obtain the International Standards Expert in Financial Reporting (IFRS) certification, starting from 5 April with the accreditation of the International Arab Society of Certified Accountants - for more details, please contact us via:
Phone : 07812591909
Email Address : [email protected]
The Global Academy of Finance and Management GAFM and Al-Jubouri & co. , in cooperation with the Arab Union for Arbitration and Settlement of Economic Disputes (Iraq Branch) and Universe Bath Academy, have the honor to announce the establishment of a course (Specialized Banking Program), online (via the Zoom platform) for a period of 12 days for the period from (27 March to 8 April 2021) daily from six o'clock until ten o'clock, except for Friday.
Chapter One :
Nazeh Abu Tammam,
07711112089 - 07722333989
The Global Academy for Finance and Management (GAFM) and Al-Jubouri & co. , in cooperation with Universe Bath Academy, have the honor to announce the establishment of a course (Effective Budgeting and Cost Control), online (via the Zoom platform) for a period of 5 days for the period from (21 March to 25 March 2021) daily. From six o'clock until nine o'clock.
At the end of the course, participants will be able to:
Professor Iyad Amira
CPA Certified Public Accountant NH-USA
CMA (Certified Management Accountant) New Jersey and USA
CFM Certified Financial Manager NJ - USA
MFC (Master of Financial Controller) - American Academy of Financial Management (AAFM). United States of America
CertIFR is accredited to ACCA / UK International Financial Reporting Standards
CertIFR for Small and Medium Enterprises (accredited to International Financial Reporting Standards) ACCA / UK
CBV is accredited in the UK ACCA / UK Business Assessment
CIFRS is certified in the USA GAFM International Financial Reporting Standards
CHFP (Certified Healthcare Financial Professional) from hfma-USA.
07711112089 - 07722333989
At the end of 2019, the national outlook for Iraq was optimistic. The country was emerging after four years of challenging economic conditions, GDP growth was positive, the non-oil sector was growing, and Iraq had been signatory to several key trade agreements with its neighbors. Overall, reconstruction efforts were proceeding at a reasonable pace and expectations were that this would continue. However, in early 2020, much of this positive progress ground to a halt. As countries around the world came to terms with the impact of the global pandemic, Iraq was faced with a dual health and economic crisis.
As the country navigates the economic challenges presented by the pandemic, the Iraqi Union of Accountants and Auditors (IUAA) has actively supported its members to provide business advisory, strategic planning, and accountancy services. IUAA members have assisted their clients in sectors including manufacturing, agricultural, healthcare, and others to respond to the crisis and contribute to the resilience of the Iraqi economy. Proximity to their clients, and the provision of direct, tailored support has given the IUAA a unique perspective when it comes to looking ahead and supporting businesses both during and post-COVID-19. While the pandemic has highlighted many issues of concern for the Iraqi private sector, in the opinion of the IUAA, chief amongst them is the fundamental weakness of the country’s current basis of financial reporting. Unreliable financial information harms the very foundations of an organization, undermining its strategic planning, health, and sustainability. As the country repositions itself on the path of economic growth and development, the IUAA is calling for clarification of the legal and regulatory framework and adoption of IFRS Standards as issued by the International Accounting Standards Board (Board).
IFRS Standards provide a high quality, internationally recognized set of accounting standards that enable the private sector to be transparent, accountable, and efficient. By enhancing the quality and the international comparability of financial information, IFRS Standards enable investors and other market participants to make informed economic decisions. Furthermore, IFRS Standards reduce the information gap between the providers of capital and the people to whom they have entrusted their money. Finally, IFRS Standards contribute to economic efficiency by helping investors to identify opportunities and risks across the world, thus improving capital allocation. For businesses, the use of a single, trusted accounting language lowers the cost of capital and reduces international reporting costs. The IUAA strongly believes that the use of IFRS Standards would not only help Iraqi companies align to global best practices and attract Foreign Direct Investment (FDI) but would also facilitate businesses’ presentation and assessment of their financial condition today as well as strategic planning of their businesses going forward.
In support of their commitment to the economy, the IUAA has developed training programs and outreach on the subject of IFRS, engaged with regulators and legislators to raise awareness of the standards, and has been in active dialogue with the International Federation of Accountants (IFAC) to access resources and technical assistance. Furthermore, the IUAA will be entering into a collaborative agreement with the Institute of Chartered Accountants of England and Wales (ICAEW) to support the IUAA on its journey and developing a CPA roadmap for the country. Although this support will greatly advance accountancy in Iraq, the IUAA notes that the country’s current piecemeal regulations regarding the use of IFRS Standards and ambiguity regarding their adoption need to be addressed. IUAA recognizes that time, energy, and resources are needed to support client partners as they continue to face the challenges of COVID-19 and its economic and financial impacts. However, in addition to working through the challenges of today, the Iraqi financial sector must also address the underlying vulnerabilities of its financial reporting framework and ensure that the country and its enterprises are sufficiently prepared to meet the challenges of tomorrow. The adoption and implementation of IFRS Standards will facilitate this future-focus, helping the country regain its momentum and securing a brighter future for the Iraqi people.
Al-Juboori & co. is a certified testing and training center from the International Arab Society of Certified Accountants(IASCA).
about Professional exam program:
Al-Jubouri & co. is a certified testing and training center from the Accounting and Auditing Organization for Islamic Financial Institutions.
The earliest test will be on March 31, 2021.
For more inquiries, please contact us at [email protected]
A warning from the company registrar department for commercial agents and companies with commercial agency activity (commission agents) to expedite the renewal of commercial agencies and alert that after this date, a fine will be imposed on the company for each day (50,000) fifty thousand Iraqi dinars, provided that it does not exceed (5,000,000) Five million Iraqi dinars, which is a heavy fine for companies, so please confirm. To speed up the renewal of commercial agencies.
The text of the warning is as stated:
"We advise you to abide by the provisions of Article (6) of the Commercial Agency Regulation Law No. (79) of 2017. We hope to expedite the submission of requests to renew the commercial agent license granted to you within a period of (60) days from the beginning of the year Status (2021) with the necessity to submit the commission register and close the page for the fiscal year ending on 31/12/2020".
Al-Mustansiriya University - College of Management and Economics, in cooperation with the Global Academy of Finance and Management (GAFM) and Al-Juboori & co. , concluded the training workshop entitled (Job Happiness), in which the fourth stages of the departments in the college were targeted on January 12, 2021, in which more than 140 students.Among the most important objectives of the workshop:
The Iraqi Canadian Chamber of Commerce and Industry in Canada (IraqCanadaCham) signed a memorandum of cooperation with Ayman Mahdi Al-Jubouri and its partners for financial and legal services in Iraq, which aims to support the purpose of both institutions by combining strengths and seeking to find and enhance opportunities for mutual cooperation between the two parties, and provide legal advice. Which contribute to the growth and sustainability of Iraqi and Canadian companies, and ensure a safe investment environment. The memorandum of cooperation stipulated the provision of a set of distinguished servicesfor companies and individuals, which include: