Country Senior Partner at KPMG in Qatar, Ahmed Abu Sharkh
Doha, Qatar: The audit and assurance services market in Qatar at present stands robust, stated an official as another monetary year comes to an end.
In an interview with The Peninsula, Country Senior Partner at KPMG in Qatar, Ahmed Abu Sharkh (pictured) noted that the industry is marked by an intensified focus on audit services.
“We have observed an increased scrutiny in Qatar from regulators on auditors, a development we view positively towards maintaining high standards of quality,” Sharkh said.
The expert elucidated that the organisation’s approach has been designed and carried out not merely to meet the standards but to exceed them, ensuring that the services contribute significantly to developing the integrity and reliability of financial reporting in Qatar.
However, the official remarked that the company is “multifaceted” in bolstering the country’s economy.
He said: “We are committed to integrating our global expertise with local insights to drive meaningful progress in Qatar and continue to focus on assisting government and key personnel in achieving Qatar 2030 vision goals.”
KPMG aims to work closely with its key stakeholders & decision-makers including boards, management teams, and business owners to enhance business strategies, governance, systems, and processes in addition to working extensively with regulators, ministries, and in the area of Environmental, Social, and Governance (ESG), all of which play a critical role in fortifying Qatar’s economy.
While the entity invests in areas that are vital for Qatar’s growth, the focus persists on digital & innovation, and on its transformative role across various sectors.
In order to strengthen the country’s digital tech market, the firm is optimistic about expanding cybersecurity services. “With the recent developments in the field of AI, we believe having the right data fundamentals will be a necessity to benefit from this transformative technology,” Sharkh mentioned.
He also underlined top data and analytics talent will be embarking on their AI journeys to Qatar to meet the clientele needs. Apart from that, the operational, financial advisory, HR consulting, and risk consulting services at KPMG are being tailored to meet the unique needs of Qatar’s dynamic market.
Highlighting some of the significant challenges in the field of audit services this year, Sharkh stressed the need for maintaining high-quality standards while navigating the market conditions that put pressure on profitability and valuations.
“Attracting and retaining top talent is a crucial aspect, as skilled auditors are essential for delivering audits that build public trust. Furthermore, we are focusing on offshoring to reduce costs and increasingly utilising innovation and technology in audits, as general AI gains more prominence,” he said.
Sharkh added: “This strategic approach helps us maintain a balance between upholding rigorous audit standards and adapting to evolving market demands, ensuring both the integrity of our audits and the satisfaction of our clients.”
