Manama, Bahrain participated in the 21st meeting of the heads of the audit institutions of Gulf Cooperation Council (GCC) countries, held in Doha.
The meeting was chaired by Abdulaziz bin Mohammed bin Ahmed Al Emadi, President of the State Audit Bureau of Qatar (SAB) and president of the current session. The meeting was attended by the heads of the GCC Audit Institutions from the member states.
Jasem Mohamed Al Budaiwi, Secretary-General of the GCC, stated that the diligent efforts of the member states to enhance transparency and establish an advanced accounting monitoring system are have enabled them to attain a distinguished regional and global position.
The Secretary-General thanked His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar, for hosting the meeting and for the support provided by the State of Qatar to ensure the success of the Council’s work. He also commended the support for joint Gulf cooperation from the leaders of the GCC member states.
The Secretary-General noted
the accomplishments that contributed to reaching many goals outlined by the leaders of the GCC states to enhance cooperation and integration in all fields. He noted that efforts are ongoing to reach the highest levels of integration in response to the aspirations of the leaders of the GCC and the ambitions of their citizens.
Moreover, he highlighted the interest of the heads of Financial and Accounting Audit Bureaus in the member states in approving decisions and regulatory guidelines aimed at enhancing joint Gulf cooperation in the field of financial control and accounting.
He said this served as a clear indication of the importance of the existing cooperation among the GCC member states in this vital area. He emphasised that this cooperation not only contributes to enhancing financial transparency and credibility but also serves as a fundamental pillar supporting sustainable development and achieving the desired economic integration among the GCC countries.
The GCC Secretary General said that consultatio
n and agreement on regulatory guidelines reflects the commitment of the member states to international standards and the achievement of best global practices, thereby enhancing investor confidence and supporting the stability of the Gulf economy in facing regional and global challenges.
He noted that the heads of the GCC audit institutions are steadily progressing towards achieving cooperation and integration in the fields of financial and accounting oversight by improving monitoring mechanisms for public funds and enhancing cooperation among the audit bureaus through the establishment of organised frameworks and controls for regulatory work following plans and strategies aimed at developing and improving performance efficiency and adopting the best professional practices.
Additionally, the Secretary-General pointed out that the GCC countries have attained a distinguished regional status in various fields, including political, economic, and investment areas, leading many international indicators that place
them on par with the most advanced countries.
He said this was particularly significant as many countries and organisations are actively seeking to establish strategic partnerships with the GCC, due to its credibility and steadfast commitment to transparency and sustainability across all its national institutions.
Source: Bahrain News Agency
