Dead Sea, Jordan January 21, 2016 By Ahmed Qaid Ashaybani, Chairman/President of YACPA, Republic of Yemen

1. Presentation of Yemen Association for Certified Public
Accountants (YACPA) to IFAC/JACPA/WB Workshop
Addressing IFAC Statements of Membership Obligations
(SMOs) #7 – IFRS Adoption and Implementation
Dead Sea, Jordan
January 21, 2016.
By
Ahmed Qaid Ashaybani
Chairman/President of YACPA
Republic of Yemen

2. OVERVIEW OF LEGAL AND REGULATORY FOUNDATION
IN YEMEN
• Yemeni Association of Certified Public Accountants (YACPA) was established
under the Law No. 31 (1992) relating to accounting and auditing profession in
Yemen and superseded by Law No. 26 (1999).
• Under the law, the membership of YACPA covers all certified public
accountants – as such membership in YACPA is compulsory.
• YACPA members are classified as practicing and non-practicing members.

3. OVERVIEW
OF
GOVERNANC
E IN YACPA
Permanent and
Ad-Hoc
Committees
LeadershipExecutive BodyRepresentational
General
Assembly
Administrative
Council / Board
President
IFAC Task Force
YACPA G 20
Training
Quality
Assurance
Ethics
Audit Standards
Accounting
Standards

4. IFRS IN YEMEN
• Law No. 26 (1999) as a regulating tool of the accounting and auditing profession in
Yemen, empowers a specific body, entitled the ‘Higher Council of Accounting and
Auditing (HCAA) to set accounting and auditing standards.
• However, to date, this entity has not been established. As such, there is a lack of a
legal standard setter to legislate the application of IFRS.
• How has YACPA been operating to address the lack of the HCAA and the lack of
existence of a legally empowered standard setter?
• YACPA has been proactive in directing members (under its authority all CPAs) to
use international standards (IFRS, IESBA Code of Ethics and ISA) and as such, has
been acting as an ‘interim standard setter.’

5. YACPA: Proactivity in IFRS Adoption and
Implementation
• To ensure implementation of IFRS, YACPA works with universities to include international
standards in their curriculum and ensures their engagement in Education Committee.
• YACPA also plays an effective role through the development and delivery of the CPA exam
and sees this as a vehicle for IFRS implementation amongst newer members.
• YACPA works to ensure that not only new members of the profession, but current
members of the profession are aware of the standards and of the need for their
application through comprehensive IFRS CPD Offerings (IFRS and IFRS for SMEs) for all
members.
• Through YACPA Standards Committee for accounting, auditing and ethics our PAO
examines, researches and promotes IFRS, ISA, Ethics, etc. amongst members, regulators,
ministries, NGOs and the public.

6. YACPA: Proactivity in IFRS Adoption and
Implementation
• YACPA maintains relationships and engagement with regulators to ensure compliance
with IFRS and other standards and has ensured their inclusion in IFRS-related adoption
and implementation efforts.
• YACPA has sought and achieved government support for the adoption of IFRS
(Presidential and Ministerial Decrees).
• YACPA has convened a diverse group of national stakeholders and in its role in
regulating the profession has led negotiations and discussions with IASB in the
adoption and implementation of IFRS.
• Yemen Ministry of Industry and Trade (MIT) is responsible for field supervision (or audit
quality assurance) under law. However as this is not implemented in practice, YACPA
has created practice review system to ensure application of standards in practice.

7. WHAT HAS MADE YACPA SUCCESSFUL IN IFRS
ADOPTION / IMPLEMENTATION?
Being PROACTIVE
and Not Waiting for
Things to Change!
Dialogue &
Relationship
with World
Bank
IFAC
Application
&
Deferment
Maintaining
Motivation and
Morale
Strong
Engagement
with IASB
Working with
Gov’t & Gov’t
Inclusion
Focus on
IFRS
Education
& Training

8. YACPA DEVELOPMENT PRIORITIES AND
ACHIEVEMENTS
• Continue push for comprehensive national legal adoption of international standards
(IFRS and ISA) as well as continue YACPA implementation of IASB agreement to adopt
and provide Arabic and English language versions of the standards to membership and
beyond;
• Additional strengthening of YACPA’s internal technical and financial capacity – in part
through development of YACPA Training Institute which serves to both provide high
quality training and CPD offerings as well as a solid revenue stream for YACPA;
• Inclusion of a requirement for mandatory achievement and system for monitoring of
Continuing Professional Development (CPD) within education criteria; and
• Development of a system of audit quality assurance (QA) – expanding upon YACPA’s
current system of peer review.

9. SO…
WHAT IS
NEXT FOR
YACPA?
Aim to be
Center of
Excellence
Focus on IFAC
Recommend.
Strengthen
YACPA
Membership
Improve
Implementation
of Standards
Strengthen
Licensing
Regime
Strengthen
Education

10. WORDS OF ACKNOWLEDGEMENT AND
APPRECIATION
I would like to express my gratitude, appreciation and
acknowledgement for the people who have continuously supported
our association and work tirelessly to support YACPA attain its
objectives and goals.
In particular, I would like to acknowledge the following dignitaries:
Gabriella Kusz, Moad Arubaidi, Walid Al-Najar (World Bank) and
Clare McGuiness (IASB).

11. THANK YOU!
IF YOU HAVE ANY QUESTIONS, PLEASE NOTE
THAT I WILL BE AVAILABLE THROUGH WEBEX
FOR THIS EVENT.