Abu Dhabi, United Arab Emirates: A delegation from the Supreme Audit Institution of the United Arab Emirates, headed by His Excellency Humaid Obaid Abushibs, President of the Supreme Audit Institution, is participating in the 67th meeting of the Executive Board of Arab Organization of Supreme Audit Institutions (ARABOSAI) that is taking place in Riyadh, Kingdom of Saudi Arabia on the 6th and 7th of December 2023.
The meeting, at which the UAE serves as the second Vice Chair of the Organization, will discuss the activities of the General Secretariat and the Executive Council of ARABOSAI, operational and oversight standards’ reports, the organization's strategic plan, the financial budget, development initiatives, structure of committees, oversight reports on sustainable development goals, as well as joint cooperation between participants and mechanisms for future sustainable actions. The meeting will also examine the participation in the work of INTOSAI committees, in addition to the participation of member bodies and the preparation of financial studies on the compensation value for employees' work.
A spokesperson of SAI said: “Our participation in the Arab Organization of Supreme Audit Institutions (ARABOSAI) reflects the UAE’s commitment to achieving unification of efforts among auditing and regulatory bodies responsible for overseeing audit institutions in the Arab region. We believe that this cooperation enhances transparency and accountability mechanisms, contributing to building a strong and reliable economic base. Through this cooperation, we seek to share expertise and knowledge, and develop financial control of audit capacities that ensure effective management of public resources, supporting sustainable economic growth in our region."
The Arab Organization of Supreme Audit Institutions (ARABOSAI) was established in 1976 and its objective is to organize and develop cooperation among member SAIs to strengthen the relations between them. It also encourages the exchange of knowledge, ideas, experiences, studies and researches in financial management among member SAIs, and to provide the necessary assistance to Arab countries who plan to establish Supreme Audit Institutions or to develop their existing SAIs. It also aims to manage the standardization of technical terminologies among member SAIs in the field of financial management while raising audit quality in the region, which helps to strengthen the role of the SAIs to perform their tasks.
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