Global Arab Network | Oman Selected as Financial Auditor for INTOSAI

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Oman Selected as Financial Auditor for INTOSAI

Global Arab Network - - Mohammed Almasri

Tuesday, 30 November 2010 17:36

Oman (Muscat) - The Sultanate represented by the State Audit Institution (SAI), alongside with the Auditor General Office in Malaysia, were selected as a financial auditors for the International Organisation of Supreme Audit Institutions (INTOSAI) for the coming three years (2011-2013).

This was includedin the recommendations of International Organization of Supreme Audit Institutions (INCOSAI) summit which concluded at the beginning of this week in Johannesburg in South Africa. The Sultanate participated in this summit with a delegation presided over by Sayyid Abdullah bin Hamad al Busaidi, Chairman of the State Audit Institution during the period from November 17th to 27th 2010.

The main job of INTOSIA financial auditor is to audit the financial statement, the financial report and management of INTOSAI assets. The Secretariat General will provide auditors with the necessary information that enables it to carry out its duties. INTOSAI revenues comes mainly from the membership fees collected from the members and other estimated revenues as well. The expenditure includes the expenses of the secretariat general, the contribution to the cost of the international magazine for financing auditing and accounting, the training programmes and the cost of the conference. The two auditors will raise their reports to the secretariat General to be included in the annual report and be submitted to the Executive Council.

The INCOSAI conference in Johannesburg came out with a number of recommendations included encouraging audit processes. The summit also encouraged the audit agencies to give priority to environment and sustainable development issues related to their countries.

It is worth mentioning that the INCOSAI 21st conference is scheduled be held in the People's Republic of China in 2013.
(ONA)

Global Arab Network

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