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The Artificial Intelligence and its Role in the Accounting and Auditing Profession conference commenced Wednesday, bringing together experts and professionals from Qatar and abroad to discuss the major transformations the sector is undergoing amid rapid advancements in modern technologies. The conference also explored the opportunities and challenges that artificial intelligence presents to accounting and auditing practices.**media[383490]**Organised by the Qatar Association of Certified Public Accountants (QCPA) under the patronage of the Ministry of Commerce and Industry, the conference sessions focused on the latest AI tools used in accounting, their role in financial data analysis, the challenges associated with their implementation, and ways to enhance compliance and transparency and improve financial risk management using smart technologies.The conference also highlighted the importance of ethical considerations in employing AI in accounting, particularly regarding data privacy protection and information security, given their pivotal role in fostering confidence in the results of financial transactions.During the opening session, QCPA President, Dr. Hashim al-Sayed, affirmed that the world is witnessing numerous developments, most notably in information and communication technology, where AI has begun performing many tasks previously carried out by humans, across various fields.**media[383488]**The accounting profession was no exception; in fact, it is among the ones most affected by artificial intelligence, facing numerous challenges that have forced it to keep pace with change and development.In his address, Dr al-Sayed pointed out that AI has become a strategic partner for accountants, helping them improve quality and performance, and giving them time to develop their skills amidst the digital transformation that institutions are undergoing. He also called for updating academic programmes to keep pace with technological advancements and to enable members of the profession to acquire data analysis skills and work with smart tools.In a later session, QCPA Board member, Dr Ali al-Kubaisi, reviewed the challenges facing the application of artificial intelligence in accounting and auditing, explaining that these challenges are both local and global.He noted that among the most prominent local challenges are inconsistencies in data formatting across systems used, the presence of bilingual financial documents that reduce the accuracy of intelligent models, outdated information systems, and limited historical data. Globally, challenges include poor data quality due to a lack of consistency or completeness, the difficulty of interpreting the outputs of many AI models that operate as black boxes, high implementation costs, and cybersecurity risks that may introduce new vulnerabilities into financial systems.In a third session, QCPA board member, Abdullah al-Mansoori, spoke about sustainability in accounting and auditing in the age of artificial intelligence and the importance of linking the two. He addressed the concept of sustainability in the financial context, the relationship between sustainability and AI in accounting, sustainability in government accounting and the public sector, as well as the current challenges facing accounting in the era of AI and the professional risks associated with digital auditing.It is worth noting that the conference is part of the QCPA's efforts to enhance communication and exchange expertise among specialists, and to discuss the latest trends in AI and modern accounting technologies, in light of the radical transformation the sector is undergoing due to digital developments.

The Ministry of Commerce and Industry (MoCI) has organised a specialised seminar on enhancing quality management in the auditing profession.Held at the ministry's premises with the participation of registered auditors, the seminar aimed to bolster their understanding of the latest updates to quality management standards in the auditing profession and to raise awareness of the practical applications of these standards, thereby contributing to enhancing the quality of auditing work and ensuring strict compliance with professional and regulatory requirements, in accordance with best practices.This event was part of MoCI's steadfast efforts to advance this profession, as regulated by Law No 8 of 2020, through backing auditors' capabilities and enhancing their performance to ensure accurate and reliable financial reports.The seminar featured the International Standard on Quality Management (ISQM 1), which aims to enhance the efficiency of audit processes and emphasises the importance of quality management within auditing and assurance firms, whether regarding financial statement audits or assurance and related services, including engagement quality reviews.In addition, the seminar emphasised that it is important for auditing firms to establish integrated quality management systems, pursue a constant optimisation approach, and implement a monitoring mechanism as a key enabler of success, through quality standards impacting the quality of audit services and their role in building client trust and enhancing firms' presence and credibility in the market.The seminar concluded with an interactive panel discussion, during which experts answered the participants' questions, reviewing methods of navigating key challenges they might encounter when applying these standards, thereby fostering the quality of auditing processes and adherence to international standards.