Professional Documents
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The Yemeni Association of Certified Public Accountants was established 1992. However, since its inception, the Association has not been able to play an important role in the development of a sound accounting and auditing profession. The Association also was not able to provide for the professional development for its members. This is mainly due to the lack of financial resources, which are less than US $ 3,000 each year, and lack of support from the related institutions.
Currently, there are about 700 members in the Association, and 220 of them are actively involved in auditing practice.
Is the Yemeni Government doing all it should do for the profession in Yemen?
I dont think so. As you aware, the Yemeni government started a successful economic reform package in 1995. It has also been enhanced by administrative and financial reform in recent years. We believe as part of this reform, greater efforts should be directed toward comprehensive reform of the accounting and auditing profession in Yemen. Such reform is essential for the development of private and public sectors. It is also impossible for current Yemeni businesses to be developed further and for the Yemeni Government to establish a Yemeni stockmarket without sound accounting and auditing practices that enhance quality financial reporting and transparency. We believe that the government is not doing enough in the development of the accounting and auditing, which is the milestone in the development of the Yemeni economy. Currently there is mission from the World Bank performing an assessment of strengths and weaknesses of accounting and auditing practices in Yemen. We hope that the results of the assessment will help in the development of accounting and auditing practices in Yemen.