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Fifth ‘Professional Accounting Day’ opened at PSUT

Wednesday, May 1, 2019 - 13:15

 

Under the patronage of Princess Sumaya University for Technology’s President, Prof. Mashhoor Al-Refai, the Accounting Department opened its fifth annual Professional Accounting Day, at the University campus. The event was organized by the Accounting Department within the King Talal School of Business Technology with the aim of increasing the future prospects for students in the accounting profession and bridging the gap between theoretical knowledge and the practical application of one of the world's most sensitive and evolving professions.

In his inaugural speech, Prof. Al-Refai welcomed the event of the 5th Professional Accounting Day, which aims at linking students’ learned knowledge to the workplace, as well as informing them of the opportunities available for training in business institutions. The overall goal is to give students professional training and practical experience, to enlighten them about the experiences of top accountants, and to let them know about the latest developments in accounting and auditing and current standards in the field. Together, this information promotes the graduation of exemplary students who are capable of making a smooth transition into the labor market. The School believes that it has a major role to play in the realization of the University’s vision and mission and has therefore taken pioneering steps in building strong ties with local community institutions and the labor market. It has made great progress on the path to excellence, becoming the first among Jordanian universities to be made a member of the Association to Advance Collegiate Schools of Business (AACSB).

Prof. Al-Refai talked about the University’s many achievements, which have raised it to a prestigious position among international universities. These achievements were made thanks to the support and guidance of HRH Princess Sumaya bint El Hassan, Chair of the University’s Board of Trustees. Prof. Al-Refai set forward the following examples:

1. The University was awarded the Order of Independence, First Class, for its outstanding performance in the field of higher education.

2. PSUT has obtained ABET accreditation its IT and Engineering Schools and the King Talal School of Business Technology has been granted membership of the American accreditation board, the AACSB.

3. PSUT has obtained top ranking for four consecutive years in the results of the University Proficiency Exam, which is administered by the HEAC to all students in the Jordanian universities in their graduation semester.

4. As part of an initiative from HRH Crown Prince Hussein bin Abdullah II, four PSUT students were selected for training in the US Space Agency (NASA), while two other students underwent training at the world leading company, Airbus.

5. This year, a team of PSUT students ranked first among the Arab universities for the fourth consecutive year, while taking fourth place globally among the 4049 teams competing in the IEEEXtreme competition.

6. In 2011, the University took third place globally in the Microsoft Imagine Cup, making Jordan the first country in the Middle East to achieve such a feat.

7. This year, the University was named Champion of the Middle East and Africa in the ACM Programming Contest.

8. PSUT students ranked third in the world in the Huawei ICT Competition in China.

 

9. Earlier in 2019, PSUT’s Debating Club was crowned World Champions at the Fifth International Arabic Language Debating Tournament which was held in Qatar.

10. In early 2019, PSUT students were awarded first place in the CFA Research Challenge Competition at the local level, and the team qualified to represent Jordan in the international competition in Switzerland.

11. Ten students from the University’s Accounting Department received scholarships through the American Association of Certified Management Accountants (CMA).

Bringing his speech to a close, Prof. Al-Refai thanked the Integrity and Anti- Corruption Commission, Deloitte, PricewaterhouseCoopers (PwC), the Jordan Association of Management Accountants (JAMA), and the Jordanian Association of Certified Public Accountants (JACPA), for their participation in this event. He also thanked all those who organized the event for their untiring efforts.

The Deputy Chairman of the Integrity and Anti-Corruption Commission, Burhan Akroush, thanked the University and its administration for hosting this special day. He highlighted the Commission’s role in promoting efforts towards instilling integrity as an influential societal behavior and achieving a national stance against corruption. He pointed out that the Commission’s Board has developed a set of integrity standards which include several principles, including the rule of law. Mr. Akroush made a presentation, showing how the Commission carries out its work in the investigation of financial and administrative corruption, how they go about detecting violations and abuses and the collection of evidence and data in such cases, as well as how investigations are initiated and the necessary conduct of administrative and legal procedures.

The Jordanian Anti-Corruption Commission was established as an independent body in implementation of the royal decree issued by HM King Abdullah II in 2005. The decree reflects the belief of the country’s Supreme Leadership in the importance of creating an independent body for combating corruption, working to prevent it, and raising awareness of its dangers. This is in accordance with the requirements of the United Nations Convention against Corruption, which was signed by Jordan in 2003, and resulted in the issuance of the Anti-Corruption Law No. (62) of 2006, setting forth the objectives and functions of the Commission and clarifying acts that constitute corruption.

The Chairman of the Preparatory Committee for the fifth Professional Accounting Day, Dr. Radhi Al-Hamadeen, expressed the University's belief in the importance of partnership with professional organizations and private sector institutions. He said he was proud of the size and depth of this partnership and the impact it has on the development of curricula and the enhancement of PSUT’s reputation and that of its graduates in the labor market. The positive impact of this partnership can be clearly seen by the employment rate of graduates, which is the highest in Jordan, with statistics indicating that 96% of the Accounting Department’s graduates get a job opportunity within six months after graduation, as is the case with many other disciplines taught at the University.

Dr. Hamadeen added that the University focuses on international accreditation, both academic and professional, for all the disciplines offered by the King Talal School of Business Technology. The Accounting Department intends to secure professional accreditation for its specialization through partnership with international professional organizations such as the American Institute of Internal Auditors and the Institute of Management Accountants. He pointed out that 10 students from the University's Accounting Department received full grants from the American Institute of Auditors which cover the cost of participating in the CMA professional exam and all the subjects required to prepare for the examination.

The Professional Accounting Day was attended by a number of representatives of major accounting firms and members of PSUT’s academic and administrative bodies. Among the events of the day, a panel discussion was held on professional qualifications and labor market requirements. The discussion was presided over by Mr. Imran Talawi, Chairman of JACPA, and Mr. Ammar Al-Khayyat, President of JAMA. There was also a session presented by Mr. Mohammed Al-Swaiti and Mr. Anan Al-Majali from PwC, focusing on labor market demands. The University also hosted a number of its graduates who are currently working in major accounting firms, who came to talk to the students of their experiences in the field. Their comments were followed by a question and answer session where members of the audience got a chance to add their remarks.