Amman:The International Professional and Scientific Conference of the Jordan Association of Certified Public Accountants (JACPA) concluded with a significant call for the integration of artificial intelligence and AI risk management into accounting education curricula and professional development programs.
According to Jordan News Agency, the conference, held under the theme "The Future of Accounting and Auditing in the Arab World," also recommended the establishment of a national advisory council. This council would include government regulatory bodies, JACPA, academics, and practitioners to actively participate in drafting industry-related legislation before its enactment.
Participants of the conference urged the conduction of regulatory impact assessments for proposed legislation and amendments impacting the profession and business environment, focusing on the compliance costs for enterprises. The first session, "Digital Transformation, Artificial Intelligence, and Cybersecurity," highlighted that while technology and AI are crucial tools, they cannot replace professional judgment and human expertise.
The conference explored collaboration with the National Cyber Security Center (NCSC) for technical support and advisory services in cyber governance to enhance the readiness of audit firms and association members. It also advocated adopting a "security by design" principle in financial and accounting systems, emphasizing comprehensive risk management.
In the session on "Governance and Compliance," recommendations included establishing policies to increase awareness among boards of directors and stakeholders about AI risks and opportunities and ensuring integrated governance of AI systems with human oversight for high-risk decisions. The "Legislation and Laws" session emphasized empowering JACPA to issue guidelines suited to the local business environment and establishing a regulatory framework to protect client data confidentiality.
The final session, "The Reality of the Profession in the Arab World," focused on promoting mutual recognition of professional certificates among Arab accounting bodies and coordinating with international organizations for Arabic translations of auditing standards. JACPA proposed issuing a guidebook on AI tools usage in audit offices and suggested AI usage disclosures in corporate governance reports for public shareholding companies.