Oman hosts 20th meeting of heads of GCC Financial audit, accounting institutions

Muscat: The Sultanate of Oman today hosted the 20th meeting of heads of GCC financial audit and accounting institutions.

The meeting was held at the premises of the GCC Supreme Council’s Advisory Board in Muscat. It was chaired by Sheikh Ghosn Hilal Al Alawi, Chairman of State Audit Institution (SAI), and attended by the GCC Assistant Secretary-General for Legislative and Legal Affairs.

The meeting discussed ways of enhancing knowledge and research aspects of auditing in member states by organizing the 6th GCC Audit and Accountancy Competition.

The officials exchanged views about a proposal to sign memorandum of understanding with King Fahd Library with a view to enriching sources of knowledge for employees of member states’ audit offices.

They also elaborated on an initiative undertaken by the International Organization of Supreme Audit Institutions (INTOSAI)—known as INTOSAI Development Initiative (IDI), which seeks to develop the capabilities of audit staff in the organization’s member states.

The meeting also discussed the GCC states’ training plan (2024-2025), which covered the operational plan and strategic aspects of training. Besides honing the skills of employees in financial audit institutions, the plan deals with exchanging expertise and upgrading cooperation between professionals and researchers.

The conferees looked into final versions of joint audit manuals. These included manuals on performance auditing, audit report drafting, information technology, privatization and governance public projects’ auditing.

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