In 2021, IFAC expanded its membership to include two new professional accountancy organizations (PAOs) from the United Arab Emirates and Yemen. The Yemeni Association of Certified Public Accountants (YACPA), the only national PAO in Yemen, invested a great deal of time, energy, and resources to be fully prepared to submit a successful IFAC membership application. YACPA is no stranger to adversity as it operates in a country whose recent history is one of turmoil. YACPA was formally welcomed as an IFAC Associate at the IFAC Council meeting in November 2021. Here YACPA leadership shares their journey as inspiration and guidance for future IFAC members.  

Dana Jensen: How did YACPA’s journey to joining IFAC start?

Dr. AbdulMalek: When YACPA first applied for IFAC membership in 2011, we were given advice at the time by IFAC to postpone the application submission so we could prioritize ongoing efforts in developing the profession.

Dana Jensen: What were some of the recommendations that YACPA addressed?

Dr. AbdulMalek: Between 2013-2020, YACPA worked diligently to address all IFAC policy recommendations. Namely, it developed a strategic planning process and has been working towards a formal review to consider how differences between national legislation and international standards can best be addressed as well as how to strengthen its continuing professional development and professional experience requirements. While not the national standard-setter for corporate accounting and auditing standards, and professional ethics, YACPA supported the Government of Yemen with the adoption of International Standards on Auditing (ISA), the International Ethics Standards Board for Accountants (IESBA) Code of Ethics, International Financial Reporting Standards (IFRS Standard), and introduction of a mandatory continuing professional development (CPD) requirement.

 

Dana Jensen: What is next for YACPA? 

Majid Al-Qawsi: Today, YACPA is legally recognized as a mandatory membership professional association for Certified Public Accountants (CPAs) under Audit and Review of Accounts Law No. 26 of 1999, with the authority to (i) participate in drafting resolutions related to the profession; (ii) ensure members’ compliance with ethical, accounting, and auditing standards and cooperating with the Ministry of Industry and Trade (MIT) to support investigation & disciplinary processes; (iii) organize and monitor professional education and training; (iv) deliver CPD; (v) administer Certified Public Accountant (CPA) examinations; (vi) maintain the CPA registry; and (vii) operate a quality assurance (QA) review system under the MIT’s supervision.

Looking ahead, we see a new decade of possibility and progress as YACPA actively works towards strengthening the profession despite ongoing conflict in the country. With more tools available, and potential partnerships with other IFAC member organizations, YACPA is moving into a new phase of action. Inspired by the belief that partnership is the new leadership, YACPA seeks to collaborate with development partners and professional accountancy organizations for exponential impact.

Dr. AbdulMalek: Even in what seems like dark times with the onset of a global pandemic and ongoing wars, YACPA believes that our best days are ahead of us. YACPA has spent the past decade building the profession with passion and trust and endeavoring to create an even stronger, and more inclusive and sustainable future for all accountancy professionals in Yemen.

Majid Al-Qawsi: And that future starts right now.

 

For more information on YACPA’s journey, please refer to the presentation which was translated by Mr. Majid Al-Qawsi, former General Secretary of YACPA.


Dr. AbdulMalek Hajar

Dr. AbdulMalek Hajar received his bachelor’s degree in Accounting from Sana’a University in Yemen, his Master’s degree in Accounting from the Catholic University of America, and his PhD from Alexandria University in Egypt. He is a Certified Public Accountant in Yemen and currently serves as an associate professor at Sana’a University as well as being a partner in Deloitte Touche (M.E).

Dr. Abdulmalek is a former Chairman of the Yemeni Association of Certified Public Accountants (2018-2021),  former Chairman of the General Authority for Social Security & Pensions (GASSP) in the Republic of Yemen,  former Chairman of the Accounting Department at Sana’a University and Chairman of Board of Trustees in Yemenia University. Dr. AbdulMalek was also a Board Member of Yemen Liquefied Natural Gas (YLNG) Company in Yemen, the Arab Yemen Libyan Holding Company, the Berue of the International Social Security Association – ISSA (Geneva), the Special Olympics in Yemen, the Civil Service Fund and the early retirement Fund – The Ministry of Civil Service in Yemen.

Majid Al-Qawsi

Majid Al-Qawsi is the former General Secretary of the Yemeni Association of Certified Public Accountants (2018-2021), and current Chairman of the Tax Appeal Committee (2017- present). He is a Financial Sustainability expert; writer and researcher in the economic and financial impacts of climate change and Blockchain adoption who helps finance professionals and Fin-tech startups build an audience. Majid Al-Qawsi spent eighteen years as a financial professional auditor & tax advisor for financial companies in Yemen and Middle East. After a successful career helping small and medium entities, Majid now helps them to work according to the highest standards of financial and economic sustainability standards. Majid is available to cooperate through a distinguished team to provide the best solutions and proposals for major problems and obstacles related to financial sustainability, limiting the economic and financial impacts of climate change, and the best possible solutions for the finance application of blockchain technology for small and medium-sized companies.

 

Dana Jensen
Dana Jensen

Senior Manager, IFAC

Dana Jensen is a trilingual Senior Manager with more than 10 years of experience working at IFAC to support the development, adoption, and implementation of high-quality international standards. She is primarily responsible for managing engagement with the Middle East North Africa (MENA) and Caribbean regions at IFAC. She is also the lead staff responsible for managing the IFAC Professional Accountancy Organization (PAO) Development & Advisory Group, which actively contributes to IFACs strategic objectives by raising awareness on PAO development, facilitating adoption and implementation of international standards and best practices, and empowering PAOs with guidance, leadership, and technical assistance. Since 2021, Dana has led IFAC’s Islamic Finance thought leadership program to support the United Nations Sustainable Development Goals (SDGs) as it promotes socially responsible development and links to economic growth and social welfare.

Prior to her time at IFAC, Dana was a Policy Coordinator at the United Nations (UN) in the Department for Peacekeeping Operations. She holds an MSc from Columbia University (2011); Prince Sultan University-Banque Saudi Fransi Graduate Fellow in Islamic Finance (2021-2023); and holds a Diploma in Islamic Finance from the Chartered Institute of Management Accountants (CIMA) (2023).

Dana was born in New York to parents that worked at the UN as diplomats. She identifies as a Third Culture Kid with family in Lebanon, Saudi Arabia, Singapore, Turkey, United Arab Emirates, and Yemen. She lived in several countries in the Middle East including Iraq, Jordan, and Lebanon before settling back in New York for University and Graduate level studies in 2004. While currently residing in New York with her husband and kids, Dana continues to travel to the Middle East regularly.