The skill sharers

ACCA members Mohamed Taha Hammod Al-Hashimi from Yemen, and Abbas Shojaei from Iran, are respected and influential financial professionals in the Middle East. They tell Colette Steckel about their careers and what they hope to achieve as ACCA voluntary representatives

Mohamed Taha Hammod Al-Hashimi

Mohamed Taha Hamood Al-Hashimi always knew he would become an accountant, even from a young age when he shadowed his father at work in Aden, in the south of Yemen, picking up tips on how to do business and later working behind the tills in his father’s shops. “My father was a property owner and trader in Yemen and East Africa. I was the eldest son and, as was quite common in the Middle East back then, my father would take me to work. From the age of nine, I would watch his every move, learning about the business and then later, as I grew older, I started working in his shops and selling tickets in the family cinemas.”

Any hope of following in his father’s footsteps and continuing to grow the family business was dashed by the political unease in the country in the late 1960s when southern Yemen (later known as the People’s Democratic Republic of Yemen) became a Marxist state and split from the traditionalist north. Skirmishes and border wars between the south and the north (named the Yemen Arab Republic, or YAR, after a military coup in 1962) forced many to flee the country, including Al-Hashimi’s family. “The communist regime in the south nationalised most of the economy and seized our properties and businesses. My father lost everything and had no choice but to leave the country,” says Al-Hashimi.

The family moved to the UK, settling in London, by which time Al-Hashimi, who had already spent some of his formative years in the UK, was already in Newcastle doing a business studies course at university. Unable to return to Yemen when he graduated, he started his ACCA studies in Newcastle and joined the finance department of Accountancy Personnel to gain work experience. Two years later, he moved south to London to join his family and complete his ACCA studies. An appointment at Ernst & Young in 1980 put him on the fast track to audit manager but perhaps more importantly for Al-Hashimi, he was offered the opportunity to return to the Middle East, which he admits came at the right time as he was feeling home-sick. “When I joined Ernst & Young, I was asked whether I would return to the Middle East. I spoke fluent Arabic, I knew about the cultural and economic background in the region, and I had experience of doing business there. And I agreed because I really wanted to be back in the Middle East,” he says.

Al-Hashimi was transferred to the Ernst & Young office in Kuwait, where he stayed for eight years before moving to Dubai. He returned to Kuwait three years later by which time he had left the firm and joined an investment guarantee company. “I was asked to establish the internal audit department within the company, which was a complete change for me; I had spent so long working for the Big Four,” says Al-Hashimi. “Unfortunately, it didn’t last very long.” Al-Hashimi returned to Kuwait in early 1990. By August that year, Iraq had invaded Kuwait. Like most residents who moved out to neighbouring countries, he did also, choosing his homeland. In May 1990, after over two decades of power struggles between the north and south, the two halves of Yemen declared a truce and reunified as the Republic of Yemen under the leadership of President Saleh, who had led the YAR since 1978. “When reunification happened, there was of course a great change in the political situation because of the move to liberal economy. People felt safer and more confident about doing business. There were already many oil companies in Yemen but, with stability returned to the country, international companies would eventually return,” recalls Al-Hashimi.

While in the Ernst & Young office in Dubai, Al-Hashimi was the executive in charge of business in Yemen. Although not based in the Sana’a office - a fact he puts down to his southern Yemeni background and the difficulties posed by the ongoing disputes between the north, where the office was based, and the south - he supported the partner and staff. However, the continued exodus of international business from Yemen and high costs led Al-Hashimi to close the office in 1989, a year before reunification. “When I returned to Yemen in 1990, I met a lot of expatriates and former international clients who had come back to the country and they all asked when Ernst & Young would re-open the Sana’a office.”

He put forward a proposal to his former colleagues at Ernst & Young that he would open an office in Sana’a in his name but work as a correspondent office for it. Al-Hashimi notes that he didn’t take the decision lightly. “With the one-country approach in Yemen, things were looking up and I felt that opening an office would be a good opportunity, but it was the most challenging decision I have ever made. When you have the experience, the qualifications and the knowledge to work anywhere in the world, and you choose to go to a place like Yemen... well, it’s not going to be easy.”

Reputation

Despite concerns about establishing the business and finding international clients, Al-Hashimi’s firm has grown in reputation. This year, the office numbers 52 staff and two partners and, although initially focusing on audit work, the firm has since moved into management consultancy, tax, and IT consultancy, partnering with the likes of Microsoft and Oracle. “In recent years, Yemen has seen the World Bank and the European Union, as well as international organisations, contribute to projects in the country and that has provided the firm with opportunities. It’s exciting and challenging work.”

Is he optimistic about the future of business in Yemen? Well, yes. He argues that, in a country of 20m - a high proportion of which is under 21 - there is the potential to educate and train tomorrow’s employees to further Yemen’s development, which, he says, is where ACCA steps in. Appointed ACCA voluntary representative in Yemen last August, one of Al-Hashimi’s tasks is to promote the ACCA qualification in the country and develop the accounting profession. This, he notes, will not be easy, particularly in a country where, historically, professional qualifications are viewed as inferior to academic qualifications. But Al-Hashimi argues that attitudes are slowly changing for the better, noting that there is a small community of ACCA members in Yemen as well as a growing number of ACCA students. “There is a demand for internationally-qualified accountants in Yemen and it’s important for firms to hire the right people.”

Al-Hashimi’s financial background and business credentials certainly help in his endeavours. He has earned the respect of the business community through his work in the country for the past decade and, as a well-known and well-liked businessman, people are willing to listen to him and act on his recommendations. Stephen Shields, ACCA’s head of corporate development, Middle East, sees Al-Hashimi’s efforts in representing ACCA in Yemen as invaluable. “Mohamed’s incredible sphere of influence and ability to open doors will bring a very positive impact to the accounting profession in Yemen,” he reasons.

Some of Al-Hashimi’s former staff, many of whom trained as ACCAs and learnt from him about doing business in Yemen, have gone on to scale the career heights within the Middle East and are often in touch with their mentor to update him of their professional progress. “Imparting my experience and knowledge to other people and seeing how they succeed in Yemen and the Middle East has given me a lot of satisfaction,” says Al-Hashimi.

Abbas Shojaei

Abbas Shojaei is one of the very few ACCA lecturers in Iran, which means his students often call him at all hours asking for advice on how to tackle a particular paper or even just to have a heart-to-heart about life as a student. Not that Shojaei minds at all; in fact he has his mobile switched on until late at night and his students have the number. “Many students call me to ask questions. I tell them that if they’re stuck, don’t worry, give me a call and we’ll try to work it out. I’m like a hotline for students,” explains Shojaei, smiling broadly. “I get a lot of pleasure from sharing my knowledge and experience, and I enjoy teaching.”

Shojaei began his lecturing career the moment he stepped foot in Iran after a 17-year absence. He returned in 1989 and immediately started lecturing at the University of Oil Industries and the Economic Cooperation Organisation College, both in Tehran. “I realised there was a shortage of expertise in Iran so I felt that, by teaching, I could help a new generation learn about international business and finance. I felt compelled to use my expertise to teach others.”

Iran’s lack of teachers with the right qualifications and experience in international business and finance is due to the country’s political history. In 1979, the monarchy was overthrown and Ayatollah Khomeini took power, promising an Islamic revolution. A year later, Iran was at war with Iraq, which was to last for eight years. In the ensuing political mayhem, many professional Iranians left the country. At the time, Shojaei was in the UK, studying for his ACCA qualification under the sponsorship of the Central Bank of Iran. By then he had already spent much of his education in the UK and had recently graduated from the London School of Economics. His parents advised him to stay put and finish his studies in the UK, while the Central Bank of Iran pulled the plug on his sponsorship. “Obviously, it wasn’t the right time to return to Iran, especially for an educated individual. How could I find a job in a country at war? Though I was determined to come back to Iran when the war was over. That’s where my home is.”

Since his sponsorship money had dried up, Shojaei started work in accountancy firms in the UK, studying for his ACCA whenever he could, developing his skills in various disciplines and working his way up the career ladder. “Those 10 years working in the UK gave me valuable experience from which I still benefit today,” says Shojaei. “As a teacher I use my academic knowledge as well as my practical experience because both help students to understand and deal with the kind of problems they will face in their jobs.”

The end of the war in Iran in 1988 led Shojaei to pack his bags and leave the UK to return home. With his lecturing income barely covering his cost of living - “I’m afraid it doesn’t pay an awful lot but I do it for reasons other than money” - Shojaei looked for full-time work. He found employment as a financial expert in international court cases, which meant that he split his time between Iran and the Netherlands to make presentations at The Hague Court. A year later, he moved on to work for the National Iranian Oil Company in the financial affairs department, specialising in international contracts. With two-and-a-half years of experience under his belt, he was lured into the banking sector with an offer of a salary hike and a more prestigious role at the Central Bank of Iran. His stint in banking, which was followed by a move into the private sector, lasted for eight years, five of which were in the role of chief representative in Iran for Standard Bank. “I put it down to my appetite for new experiences but, after eight years in banking, I felt I needed to do something different,” reasons Shojaei.

Reforms

He recalls that after the war in Iran ended, a series of reforms have taken place to aid the economy and strengthen business in Iran. The country, whose economy has long been dominated by its nationalised companies, has been nurturing a private sector, developing joint companies with the Government and encouraging private business start-ups. This development has been coupled with the establishment of the Iranian Association of Certified Public Accountants (IACPA) in 1994 along with a law that compulsory audits are required for all private and joint-ownership companies in the country. All of which, says Shojaei, has made the audit profession a more alluring prospect.

In 2003, he joined an audit firm, Salehandishan & Co, as manager and was appointed partner shortly after. Shojaei concedes that despite a growing private sector, Iran is still a country in which the majority of businesses are nationalised. “Since the change of supreme leader in Iran (Ayatollah Ali Khomeini) in 1989, there has been a more business-like attitude in Iran, which is a good thing. But today the Government still has a major share of the economy through its nationalised companies. That means that when pupils finish their schooling, they opt to study for an MBA or PhD rather than a professional qualification like ACCA, so that they can find highly paid work in the public sector.”

Promoting ACCA

Shojaei, who has been ACCA’s voluntary representative in Iran for the past five years, notes that in order to attract potential students, it is important to justify the value of a professional qualification in Iran. He has been tireless in his efforts to persuade key industries and companies in Iran of the benefits of training their staff as ACCAs. “I’ve approached various organisations throughout Iran including the Ministry of Energy, the Ministry of Oil, the Central Bank of Iran and the private banking sector, with which I have a good rapport. It’s important to convince them that employing staff with professional qualifications like ACCA would be to their advantage,” says Shojaei, with his trademark burst of enthusiasm. He adds that changing ingrained attitudes within the business community with regard to education and qualifications is not easy, although he is optimistic that change will come.

The outlook is good. A new tuition provider is due to open a college in Iran this July and the Ministry of Energy, the other tuition provider currently in the country, is looking at an accreditation scheme. In the meantime, Shojaei and ACCA have been building a relationship with the IACPA, which may lead to mutual benefit agreements in the future. “I’m hoping that, once professional qualifications and ACCA are appreciated fully in Iran, we are going to see a boom in the number of ACCA students and members in the country. As the audit profession becomes more established, and the private sector continues to flourish, there will be a lot more demand for internationally qualified accountants.”