West Bank/Gaza Accounting Reform
The USAID West Bank/Gaza Accounting and Auditing Sector Reform project was a 4-year program implemented by EWMI under a subcontract with Deloitte Touche Tohmatsu (now Emerging Markets Group). The primary objective of this project was the adoption by the Palestinian Authority (PA) of international accounting, auditing and educational standards and norms of self-regulatory organizations. The project encompassed three core areas: (i) training; (ii) educational reform; and (iii) regulatory reform. It addressed multiple constituencies, including academia, professional organizations, regulators, and users of financial information. The project was designed to broadly integrate international standards into the operating and intellectual environment and encourage the Palestinian accounting profession to raise its presence in the international community. The West Bank/ Gaza Accounting project had significant accomplishments despite the dangers and obstacles posed by the on-going conflict. Several of the key systematic improvements achieved by the project include the translating and publication of multiple textbooks related to International Standards on Auditing and International Accounting standards, with related courses initiated at the university level. The project also initiated a process of association with the International Federation of Accountants (IFAC).