The Iraqi Union of Accountants and Auditors (IUAA) is a professional association for accountant

Accountant

An accountant is a practitioner of accountancy or accounting , which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.The Big Four auditors are the largest...

s and audit

Audit

The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.- Accounting...

ors in Iraq

Iraq

Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....

. It is the sole Iraqi member of the International Federation of Accountants

International Federation of Accountants

International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...

 (IFAC).

Training activity

Between 2004 and 2008 the IUAA received assistance from USAID in upgrading its members to international standards. Training in international methods, methodologies and standards was delivered to 38 master trainers, 802 professional accountants and 437 students.
In 2006 the IUAA completed the infrastructure at the IUAA training center, with 28 workstations for student use. The IUAA planned to start a Certified Management Accountant course in 2007.
Under the same program, in late 2007 a course on Cost and Management Accounting was delivered to 727 Iraqi students and professional accountants, auditors, businessmen and managers from across Iraq.
Also in 2007, the IUAA delivered a course on International Accounting Standards and International Financial Reporting Standards

International Financial Reporting Standards

International Financial Reporting Standards are principles-based standards, interpretations and the framework adopted by the International Accounting Standards Board ....

 (IAS/IFRS) to employees of the Central Bank of Iraq

Central Bank of Iraq

-History:The Central Bank of Iraq was established as Iraq's central bank by Central Bank of Iraq Law 2004 with authorised capital of 100 billion dinars. The current Governor of the Central Bank of Iraq is Sinan Al Shabibi.-Architecture:...

.

Controversy

In 2010, a letter from the body to various national institutions in Iraq appeared to forbid the international accounting firm Ernst & Young

Ernst & Young

Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....

 from practising in the country. The firm denied that the Union had any regulatory authority. The firm has employees who are members of the Union, but as it currently has no Iraqi partners

Partner (business rank)

A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position. Originally, these businesses were set up as legal partnerships in which the partners were entitled to a share of the profits of the enterprise. The name has remained even though many of these...

it is not yet able to certify audit reports.