MoCI holds seminar on quality of auditing and its impact

The Ministry of Commerce and Industry yesterday hosted a seminar on 'The Quality of Auditing Work and its Impact on Users of Financial Data'.
Various participants, including the General Tax Authority, Qatar University, the Qatar Association of Certified Public Accountants, financial managers from small and medium-sized enterprises, as well as auditors representing accounting offices and companies, attended the event.
Organising this seminar aligns with MoCI’s commitment to advancing the accounting and auditing profession, governed by Law No (8) Of 2020 on the Regulation of the Auditing Profession.
It seeks to discuss the issues and challenges encountered by auditors, with a concerted effort to contribute to the growth of the accounting and auditing profession, which serves as a safeguard for the stability and progress of the national economy.
Moreover, the seminar shed light on several topics, encompassing an introduction to the accounting and auditing profession and its vital role in assessing and overseeing economic activities, companies, and economic entities.
It emphasised the significance of quality of auditing in enhancing transparency and reliability in financial data. Additionally, discussions addressed the mechanism for advancing the auditing profession and the critical necessity to elevate accounting awareness among community members.
The seminar also shed light on the factors influencing the quality of audits from the perspective of external auditors. This included considerations such as the client, adherence to professional standards and ethics, the level of performance quality, and the stakeholders benefiting from the auditors’ reports.