Evolution and Practices of the Auditing Profession in the Gulf Countries

Mohamed E. Ibrahim

Chapter 6 in Accounting, Finance, and Taxation in the Gulf Countries, 2008, pp 119-130 from Palgrave Macmillan

Abstract: Abstract This chapter reviews the historical development of the auditing profession and its practices in the Gulf countries. It shows that the necessary institutions and their infrastructures required for truly functional professions are still in the early developmental stage in some countries and do not exist at all in some others. In countries such as Saudi Arabia, a national profession body has been established to set accounting and auditing standards and monitor practices. In other countries such as the UAE and Sultanate of Oman, such national bodies do not exist. That is to say, the auditing profession is still a young one and it will be sometime before it achieves its professional status as in the Western societies.

Keywords: Saudi Arabia; Audit Committee; Audit Firm; Islamic Banking; International Accounting (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61454-3_6

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DOI: 10.1057/9780230614543_6

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