Saudi Arabia's victory in the INTOSAI presidency: an international achievement in the field of financial oversight
In a development that strengthens the Kingdom of Saudi Arabia's international standing in the field of accounting and financial oversight, the Kingdom has successfully won the presidency of the International Organization of Supreme Audit Institutions (INTOSAI) . This victory grants the Kingdom leadership of the world's largest gathering of audit institutions, which includes more than 195 audit bodies from around the globe.
Confidence in the Kingdom's capabilities
Saudi Arabia's victory was acknowledged during the 25th General Assembly of the International Organization of Supreme Audit Institutions (INTOSAI), held in Sharm El Sheikh, reaffirming the international community's confidence in the Kingdom's capabilities in the areas of transparency, financial auditing, and performance governance. In addition to this achievement, the Kingdom also received the INTOSAI Future Award, which recognizes its pioneering role in developing financial oversight systems using digital transformation and artificial intelligence tools.
Digital transformation and artificial intelligence
This achievement is the culmination of the Kingdom's efforts to employ modern technologies to enhance financial audits, including digital transformation and the adoption of artificial intelligence. The General Auditing Bureau emphasized the significance of this accomplishment as a new milestone that reinforces the Kingdom's role as a global leader in developing oversight bodies.
Financial and regulatory reform within Vision 2030
Under the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and Crown Prince Mohammed bin Salman, the Kingdom continues its journey of financial and regulatory reform within the framework of "Saudi Vision 2030." The Kingdom's leadership of regulatory bodies has demonstrated high efficiency in implementing international commitments to good governance and integrity.
Future responsibilities
During its presidency, the Kingdom will play a pivotal role in leading efforts to develop modern auditing tools and enhance international cooperation in financial oversight. It will also focus on supporting and building the capacity of oversight bodies in developing countries to ensure greater efficiency in public financial management.
The pivotal role of Prince Mohammed bin Salman:
Prince Mohammed bin Salman has played a key role in this success by directing reform policies that strengthen the regulatory framework and financial governance of the Kingdom, thus earning it a prestigious international standing in this field.
