The Institute of Chartered Accountants in England and Wales is, according to Accountancy Magazine (not available on line) about to launch its second international regional office — in Dubai!
If the knack of getting things right is mainly about timing the ICEA certainly hasn’t got it.
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This IS the right time for the ICAEW to open a regional office in the Middle East and Dubai IS the right location for that office. The reasons are many:
The Middle Eastern markets are growing and becoming increasingly important on a global scale. For this development to continue, it is critical that there are enough highly skilled, qualified accountants in the region. That represents an opportunity for us.
The ICAEW has invaluable experience and expertise is areas that are of fundamental importance to increased growth, such as financial reporting and audit. This is something we are keen to share with the relevant stakeholders in the region and thus another opportunity for us. We are already assisting the Dubai Financial Services Authority in their audit monitoring work.
The Middle East and the UAE in particular have a high proportion of members and by being here we can offer them better support.
Finally, Dubai is where most of our members in the region are based. It is also a well-connected centre from an infrastructure point-of-view, allowing us to easily reach the other capital centres in the region, and thus the best place for us to open an office.