Future of auditing in UAE discussed at roundtable

The Future of the Audit, a roundtable gathering focused on how the auditing industry is prepared to meet the evolving needs of the United Arab Emirates (UAE) economy, recently was held in Abu Dhabi and Dubai.

Organized by the international assurance and advisory firm Grant Thornton and the Association of Chartered Certified Accountants (ACCA), the event was attended by some of the largest leading businesses in the UAE.

Attendees noted that the role of auditing must include a "trusted adviser" approach whereby the auditor becomes a strategic partner.

Challenges identified for the future of auditing in the UAE included the use of technology, moving from
historical financial statements to integrated reporting and the fact that one standard report won't meet the needs of all the different.

After the event, a whitepaper was released by Grant Thornton and ACCA. That report is available online at www.grantthornton.ae.