The Financial Professions Development Committee, tasked with reviewing and updating Law No. 33 of 2009, presented the final version of the draft law, paving the way to complete the necessary constitutional and legislative procedures for its issuance. The committee was chaired by Minister of Finance Yasser Barnea, in a move aimed at updating the legal framework governing the profession of certified public accountants in the country.
The Ministry of Finance stated via its Telegram channel on Monday that the draft law includes several main axes that establish its general legislative framework, with details, controls, and necessary procedures for implementation to be determined by relevant executive instructions and regulatory decisions. The most prominent of these axes involves establishing the Governance, Accounting, Auditing, and Financial Professions Council, and defining its composition, competencies, and regulatory and supervisory responsibilities.
For its part, the draft law clarifies the creation of the Financial Professions Advisory Body and defines its tasks and specialized technical committees associated with it, alongside regulating the work of professional associations and enhancing their role in developing the professions they represent. The project also includes defining the scope of practice, competencies, and professional standards for each profession, thereby enhancing their independence and commitment to recognized international professional standards and principles.
The draft law includes the regulation of the professions of legal accounting, external auditing, internal auditing, risk management, financial analysis, financial valuation, tax consulting, and management accounting. This aims to develop qualification systems, professional examinations, licensing conditions, practical experience requirements, and continuing professional development.
The Ministry clarified that once enacted and implemented, the new law will contribute to achieving a set of strategic gains for the national economy, the most prominent of which is raising the efficiency of financial work through adopting clear qualification and licensing requirements. It also contributes to enhancing transparency and governance by consolidating the application of international professional standards and practices, and strengthening the independence and objectivity of specialized professions.
The Ministry added that the law is expected to contribute to efforts to combat corruption and money laundering and protect public and private funds by enhancing the role of financial and supervisory professions in assessing risks and internal controls. The law is also expected to attract investments by developing a professional and regulatory environment based on recognized international standards and providing qualified national cadres.
For his part, the Minister of Finance expressed hope that the new law, once enacted, will contribute to achieving a qualitative and fundamental leap in the development and regulation of financial and supervisory professions in Syria. The Minister of Finance had previously clarified to SANA in June 2025 that the regulation of five new financial professions has been added alongside existing financial professions, namely "financial valuer, tax consultant, internal auditor, risk manager in financial institutions, and financial analyst".
Source: Syrian Arab News Agency (SANA)
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