Dubai, UAE: As part of its commitment to advancing sustainable business practices and reporting across the Middle East, the Institute of Chartered Accountants in England and Wales (ICAEW) joined leading voices at the recent Middle East and North Africa (MENA) Sustainability Forum. The event brought together government officials, industry leaders, financial professionals, and sustainability experts, to address the latest developments in sustainability reporting and assurance.

Organised by the International Federation of Accountants (IFAC) in partnership with the Emirates Association for Accountants & Auditors, the forum brought together key stakeholders, to discuss the implications of new reporting frameworks, including the Corporate Sustainability Reporting Directive (CSRD) and the International Ethical Standards for Sustainability Assurance (IESA). ICAEW participated in a panel discussion exploring accountants’ expanding responsibilities in supporting sustainable economies. Panel participants included:

  • Warren Maroun, Board Member, IAASB
  • Jon Reid, Principal, IESBA
  • Paul Winrow, Partner – Sustainability Reporting & Assurance, Forvis Mazars
  • Hanadi Khalife, Head of Middle East, ICAEW
  • Christine Albrecht, Chair, Transnational Auditors Committee, as moderator.

The panellists emphasised the critical role of ethics and independence in sustainability assurance, noting that these principles are essential for ensuring that sustainability reports provide accurate, reliable information in line with growing public interest in corporate sustainability.

While sustainability reporting is still maturing, the panel discussed the challenges of achieving consistent, reliable data, particularly for companies transitioning to mandatory disclosures and to move gradually from limited to reasonable assurance . Global alignment of standards, ensuring comparability and transparency across jurisdictions, was identified as a vital step forward. The development of the IESA, expected to be finalised by the end of 2024, is seen as a major advancement in this area.

Hanadi Khalife, Head of Middle East, ICAEW, said: “Sustainability assurance presents a significant opportunity for chartered accountants to lead in shaping a more transparent and resilient future. By staying ahead of regulatory, policies and standards developments, accountants are well-positioned to guide organisations through the nuances of sustainability reporting, ensuring alignment with global best practices.

“This forum provided an important platform for exchanging insights on how the accounting profession can meet the rising expectations around sustainability. As the Middle East progresses in its sustainability journey, chartered accountants will be integral in

building trust and confidence in this critical part of the journey to net zero and to a more sustainable economy.”

Media enquiries:
Ramzi Alabras, Mojo PR, on email ramzi@mojo-me.com

About ICAEW

Chartered accountants are talented, ethical and committed professionals. ICAEW represents more than 208,000 members and students around the world.

Founded in 1880, ICAEW has a long history of serving the public interest and we continue to work with governments, regulators and business leaders globally. And, as a world-leading improvement regulator, we supervise and monitor over 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.

We promote inclusivity, diversity and fairness and we give talented professionals the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet's resources are managed sustainably.

ICAEW is the first major professional body to be carbon neutral, demonstrating our commitment to tackle climate change and supporting UN Sustainable Development Goal 13.

ICAEW is a founding member of Chartered Accountants Worldwide (CAW), a global family that connects over 1.8m chartered accountants and students in more than 190 countries. Together, we support, develop and promote the role of chartered accountants as trusted business leaders, difference makers and advisers.

We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create sustainable economies and a better future for all.