Professional Department


Personal Request

The firm's Professional Department is responsible for quality assurance of the firm's professional conduct, technical assistance and backup of the firm's professional team as well as technical training of the staff.  The department updates the firm's employees and clients about changes occurring in the fields of accounting, auditing, as well as relevant legislation and regulation.  These updates are carried out by way of seminars and training session organized by the department, and also by drafting and issuing professional publications.

Database of updates and professional publications

The department maintains a database of updates and professional publications for the firm's clients, and ensures ongoing updates of new rulings on various business aspects, accounting and auditing standards, both in Israel and abroad.  These include Israeli GAAP, IFRS and US GAAP.  As part of its work, the Professional Department publishes updates about new developments, and constantly advises the firm's employees and clients regarding implementation of various professional guidelines.

Quality assurance and aspiring to excellence

The Professional Department is also engaged in drafting and writing work- and quality assurance procedures for the firm, and oversees their implementation.  A key tool is the AFiQS System©, the firm's system of work procedures and principles, structured so as to meet the needs of the firm, which provides auditing services to public companies, traded in Israel and abroad.  The firm is also supervised by outside parties: first and foremost within the framework of peer review conducted by the Peer Review Institute; secondly by an annual inspection conducted by Russell Bedford International; and, finally, by being registered with the Public Company Accounting Oversight Board (PCAOB) in the US.  The professional procedures implemented by the firm are intended to ensure the provision of professional, high quality auditing services, tax advisory services and additional economic and financial services on an ongoing basis.

Ties with international accounting firms

As part of its affiliation with Russell Bedford International, Raveh Ravid & Co.'s  Professional Department maintains ongoing contact with other members of the network around the world, which allows it to remain updated on various developments in accounting and auditing standards as well as tax, throughout the world.  

Professional activity within the framework of the Institute of Certified Public Accountants

Representatives of the firm's Professional Department take part in the professional activities of the Institute of Certified Public Accountants in Israel (ICPAS).  Mr. Eli Goldstein, CPA, our Professional Director, heads the "Window to Practice" forum, which is the institute's technical information channel.  Through the forum, members of the Institute submit inquiries and obtain responses to their questions in all areas of their professional activities, including auditing, accounting and financial reporting issues; internal auditing; valuations, etc.   In September 2015, Eli was re-elected member of the board of the Institute of Certified Public Accountants in Israel (ICPAS), for a three-year term, and he participates in the Professional Committee of the Israeli Accounting Standards Board. Mr. Doron Cohen, CPA, Head of the Tax Department, is a member of the team of experts working through the forum.