Need To Keep Abreast Of Legislative Changes

It is imperative that accountants and auditors remain aware of legislative developments in Kuwait, given the rapid change in that sector, Minister of Commerce and Industry Khaled Al-Roudhan said on Wednesday. In a speech to open the fifth conference on Accounting and Auditing, Al-Roudhan, who is also Minister of State for Youth Affairs, said that the global financial crisis has led to the re-evaluation of plans dealing with credit ratings.

Moreover, he spoke of the need to establish solid inspection apparatuses that would help increase transparency in financial transactions, adding that His Highness the Amir’s vision of transforming Kuwait into a financial and commercial hub should come to fruition. He also highlighted the significance of a wide range of services to cope with constant change in the legislative sector, noting that Kuwait should curb its reliance on oil revenues, which in turn, will help create a more vibrant economic environment.

SOURCE : ARABTIMES

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