Friday 22 June 2018

Experts dicuss key auditing issues

Manama, May 21, 2014

Major auditing issues were discussed at a key meeting in Bahrain.

The National Audit Office of Bahrain (NAO) is hosting the 11th annual meeting of the International Organisation of Supreme Audit Institutions' (Intosai) Professional Standards Committee Steering Committee.

It was opened by NAO auditor-general Hassan Al Jalahma. The three-day meeting concludes tomorrow, reported the Gulf Daily News, our sister publication.

Al Jalahma praised the committee for its contribution to promoting strong, independent and multidisciplinary Supreme Audit Institutions (SAIs) by encouraging them to lead by example and participate actively in the development and adoption of appropriate and effective professional public auditing standards.

He also briefed the committee on NAO's main activities and achievements, and how it has become a pioneer among its peers in the Arab countries in the application of Intosai's International Standards of Supreme Audit Institutions (ISSAIs).

He pointed out that the NAO has, on its own initiative and by its own staff, carried out an elaborate exercise of measuring and analysing gaps aiming at determining the extent to which NAO's adopted references of work and practices complied with the ISSAIs, the results of which revealed considerable compliance.

He said that the NAO has conducted several training events on this topic for the staff of other Arab SAIs.

The meeting addresses numerous themes, most important of which is the evaluation of Intosai's standard-setting process.

It also discusses the plans and achievements of its' sub-committees, and the draft memorandum of understanding with the Institute of Internal Auditors (IIA).

This meeting is being attended by 36 delegates from 16 SAIs around the world, as well as observers from international professional organisations such as the International Federation of Accountants (IFAC) and the IIA.

The PSC develops and maintains the ISSAIs and Intosai Guidance for Good Governance.

The ISSAIs are the professional standards governing public sector auditing around the world and Intosai Govs provide guidance directed at public authorities.-TradeArabia News Service

Tags: Bahrain | audit |

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