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Appointment of DFSA's Paul Koster to Key International Accounting Standard Setters.

Summary: At its meeting in Washington last week the Public Interest Oversight Board approved the appointment of Mr Paul Koster, Chief Executive of the Dubai Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh.  (DFSA DFSA Dubai Financial Services Authority (Dubai International Financial Centre)
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) as a member of an influential advisory board of two key international accounting bodies, the International Auditing and Assurance Standards Board (IAASB IAASB International Auditing and Assurance Standards Board ) and the International Ethics Standards Board (IESB IESB Inland Empire Strikes Back ).

Appointment of DFSA's Paul Koster to Key International Accounting Standard Setters

At its meeting in Washington last week the Public Interest Oversight Board approved the appointment of Mr Paul Koster, Chief Executive of the Dubai Financial Services Authority (DFSA) as a member of an influential advisory board of two key international accounting bodies, the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board (IESB).

While the IAASB is responsible for setting standards for auditing, review, other assurance, quality control and related services, and facilitating the convergence of national and international standards; the IESB is responsible for setting ethical standards and providing guidance for the accounting profession

Recognising that the Gulf states were not represented on these boards, the International Federation of Accountants The external links in this article or section may require cleanup to comply with Wikipedia's content policies.  (IFAC IFAC - International Federation of Automatic Control, involved in informatics related to control systems. ), the parent body of the IAASB and the IESB, invited the DFSA and the Emirates Securities and Commodities Authority (SCA (Single Connector Attachment) An 80-pin plug and socket used to connect peripherals. With a SCSI drive, it rolls three cables (power, data channel and ID configuration) into one connector for fast installation and removal. ) to join the advisory groups as the Gulf States Regulatory Authorities. As a result, Mr Koster and SCA's Director of Research & Awareness, Dr Obaid Saif Hamad Al Zaabi, will represent their respective authorities on the consultative advisory groups for a renewable three year term.

Mr Paul Koster, Chief Executive of the DFSA said, "The role of the accounting and auditing standard setters is a critical one, and it is important for regulators, especially in the current environment, to be closely involved in the evolving standards for auditing. I welcome the opportunity to participate in and contribute, with my SCA colleague, to the work of these two advisory groups." 2009 Al Bawaba (www.albawaba.com)

2009 Al Bawaba (Albawaba.com)

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Title Annotation:Dubai Financial Services Authority
Publication:Albawaba.com
Geographic Code:1USA
Date:Jul 6, 2009
Words:332
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