Meetings on INTOSAI professional standards kick off in Bahrain

Manama, May 8 (BNA): The meetings for the preparation of the Strategic Development Plan (SDP) for the Professional Declarations Framework of the International Organization of Supreme Audit Institutions (INTOSAI) and the INTOSAI Forum for Professional Declarations (FIPP) kicked off.

The 5-day event is hosted by the National Audit Office (NAO) with 33 participants from 15 countries: Bahrain, USA, Australia, Austria, Denmark, Norway, Sweden, Luxembourg, Bulgaria, Tunisia, Brazil, India, South Africa, Guatemala and Nepal, some of whom are representatives of the African Organization of Anglophone Supreme Audit Organizations (AFROSAI). -E), the INTOSAI Development Initiative (IDI) and the European Court of Auditors.

Sheikh Ahmed bin Mohammed Al Khalifa, Auditor General of the National Accountants Organization, said that hosting this important event adds to Bahrain’s achievements and enhances its global standing.

He stressed that these meetings provided an opportunity to enhance joint audit work, exchange experiences, exchange knowledge and build bridges with international regulatory organizations and agencies.

Sheikh Ahmed pointed out the need for standards to be clear, accessible, and open to review and amendment to enhance professional performance and facilitate auditing.

The meetings include joint meetings between the members of the International Social Security Union and representatives of the chairmen of the INTOSAI Objectives Committees to discuss the new strategic plan for the development of INTOSAI’s professional standards.

The FIPP meetings will focus their discussions on developing new standards, updating existing standards, developing procedures for preparing and updating standards, and improving business processes and governance in general.

READ MORE  Bahrain press review

The Auditor General praised the important role that INTOSAI plays for auditors and accountants, especially with regard to setting professional standards that help enhance professional performance and accomplish tasks.

He appreciated those who set these standards and who refined them to make them work for everyone.

He explained that the work of the office is based on the professional standards issued by INTOSAI, and added that since April 2022 the office has formed an internal committee for professional standards to emphasize the importance of adherence to standards to improve its oversight work.

He added, “The National Audit Office also brings stakeholders together and acquaints them with professional standards to avoid deficiencies in auditing. It studies different and new auditing methodologies to continuously enhance and improve the quality, efficiency and effectiveness of audits.”

Sheikh Ahmed emphasized that the office is keen to develop and modernize its work in line with developments at the regional and global levels, such as artificial intelligence and technology programs in auditing, forensic auditing, cybersecurity auditing, and others.

The National Audit Office has been a member of the INTOSAI Declarations Professional Forum (FIPP) since January 2020. Its role is to promote INTOSAI as an international standard-setter and to drive the continuous development and quality of appropriate standards for public sector auditing.

Since 2005, the National Accounting Office has been a member of the Oversight Committee of the Professional Standards Committee (PSC) as a representative of the Arab Organization of Supreme Audit Institutions (ARABOSAI).

READ MORE  Pope thanks King in Vatican prayers; praises Bahrain's preparations for visit


Source link

Leave a Comment