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Saturday , February 27 2021

Kuwait Audit Bureau nods 698 projects worth USD 1.12 billion from April-Sept

KUWAIT CITY, Oct 4, (Agencies): The Audit Bureau has approved up to 698 projects worth KD 1.12 billion (USD 3.6 billion) since start of April until September of the current year. The bureau said in a statement on Sunday that the files included contracts, execution of which would last for five years.

Number-one auditor at the department, Yasmin Basha, was quoted by the statement as saying that 83 of the ventures belonged to the cabinet secretariat general, the ministries of public works, power and water, interior, finance, defense and education. Advance auditing succeeded, during the abovementioned period, in saving KD 50 million (USD 16 million), Basha said Moreover, the Diwan disapproved 66 proposed ventures worth KD 163 million (USD 526 million) for various reasons, such as lack of required specifications.

Meanwhile, a delegation from the Kuwaiti State Audit Bureau (SAB) on Sunday participated in the 21th meeting of the Gulf Cooperation Council Accounting and Auditing Organisation, headed by audit undersecretary Abdulaziz Al-Holy. SAB’s Director General of training and international relations Department Saud Al -Zamanan said the meeting agreed unanimously on SAB proposal regarding spreading awareness and knowledge.

Al-Zamanan added that this proposal aims to exchange knowledge in the field of auditing to implement sustainable development goals. The meeting also discussed the follow-up report issued by the 16th meeting of the heads of departments, which included discussion of the training plan for the year 2020 and the implementation of the training program on investment control, which will be organized by Qatar Audit bureau, he noted. In addition, a workshop on international standards for the supreme audit institutions and auditing, to be held in Saudi General Auditing Bureau as well as the approval of Abu Dhabi regarding strengthening cooperation and combating corruption.

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