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‘It has taken two years to secure associate membership of IFAC but membership is not an objective in itself; it is part of a much bigger strategic plan to reform the accounting and auditing profession in the UAE, while also looking at the profession at a global level as well,’ Al Mubarak says.

'We want to lead by example and be pioneers in whatever we do.

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It is a big challenge, and an expectation that we need to fulfil, whether it is in the private sector, public sector or NGOs.’

Achieving relevance

Al Mubarak believes the evolution of the accounting profession must be relevant to the UAE’s economy.

‘We need to be operating at that level, otherwise we will not have an impact,’ he says, adding that accountants, like many other professions, are at a critical point, facing significant disruption from technology.

‘As a profession, we need to quickly catch up, otherwise people will look for other solutions,' he says.

'People are looking for real-time information; in f