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IASCA and the Libyan Audit Bureau Launch the Professional Certification Program Specialized in Auditing Work of the Libyan Audit Bureau in accordance with the INTOSAI Standards
16-Oct-2022
AMMAN - The International Arab Society of Certified Accountants (IASCA), in cooperation with the Libya Audit Bureau, has organized a digital ceremony to launch the project of the “Professional Certification Program Specialized in Auditing Work of the Libyan Audit Bureau in accordance with the INTOSAI Standards”. The program is funded by the USAID in Libya, and the ceremony was attended by the guest of honor, H.E Dr. Talal Abu-Ghazaleh, as well as the president of the Libyan Audit Bureau, Mr. Khalid Shakshak, with the participation of the United States Special Envoy for Libya, Ambassador Richard Norland, and Mr. Al-Munji Al-Hamami, General Supervisor of the General Assembly of the Arab Organization of Supreme Audit Institutions (ARABOSAI), Mr. Najib Al-Qatari, First President of the Court of Accounts in Tunisia and the Secretary General of the ARABOSAI, and Mr. Nathan Park, Acting Director of the USAID Mission in Libya.
The program aims at building a professional material based on the international standards and the relevant instructions issued by the INTOSAI which cover the three types of auditing: Financial, compliance, and performance auditing, in order to establish an efficient and effective supervisory body through scientifically and professionally qualified human resources.
At the beginning of the ceremony, the president of the Libyan Audit Bureau, Mr. Khalid Shakshak, thanked all those who participated in the digital ceremony, and appreciated the role of the USAID in Libya for their support and funding of the project, and he praised the role that IASCA has played in the implementation of the project.
Mr. Shakshak has emphasized the important role of the supervisory bodies in protecting the public funds, and in attaining a high level of transparency in presenting the financial statements in accordance with the INTOSAI standards. He also noted that the Libya Audit Bureau has included the development of human resources and the digital transformation in its priorities and strategic plan. Mr. Shakshak has also noted that the program of the Specialized Professional Certificates for the auditing work is one of the objectives of the Libyan Audit Bureau that aims at establishing an effective supervision over the public funds and ensuring that it is exploited in the most efficient manner.
From his side, the United States Special Envoy for Libya, Ambassador Richard Norland, has noted that the protection of the Libyan public funds is of great importance, and that the USAID in Libya has included, among its priorities, achieving economic stability in Libya as well as the equal distribution of resources, especially after the resumption of oil extraction.
Ambassador Norland has thanked IASCA, represented by its president, Dr. Talal Abu Ghazaleh, for undertaking the technical part of the project by providing training courses for the Libyan accountants and auditors to qualify them for carrying out their duties in an effective and transparent manner.
During his speech as a guest of honor, Dr. Talal Abu Ghazaleh has emphasized that launching this project is a great achievement in the pathway of the Libyan Audit Bureau, and that it will have a great impact on the management and protection of the gains of the Libyan people.
Moreover, Dr. Abu Ghazaleh indicated that IASCA, since its establishment, is exerting the utmost efforts to establish the basis for protecting the profession, and setting its rules through the responsibilities it has assumed which influenced the development of the profession; noting that IASCA will make all its expertise available to assist the Libyan Audit Bureau in adopting these standards.
Dr. Abu Ghazaleh has also indicated that the standards are a consistent accounting reference that help in improving the quality of the financial reports presented by the public sector, which will eventually lead to better and more informed assessment decisions in the allocation of resources provided by governments, and thus increase transparency on business issues and provide periodic comparisons.
In his speech, Mr. Aladdin Al-Masallati, the deputy of the Libyan Audit Bureau, has elaborated on the strategic plans developed by the bureau in accordance with the INTOSAI standards. The plan aims at enhancing the performance of the bureau, focusing on the institutional structure, development of the human capabilities, enhancing the professional supervision and the business ecosystem, as well as the communication with stakeholders.
The ceremony was also attended by Mr. Abdul Qader Rahhal, Director of USAID’s Libya Public Financial Management program, and Dr. Jamal Tarayrah, expert of IASCA, where a technical presentation of the project, as well as the stages and mechanisms of its implementation were presented.
To watch the ceremony, please click the following link:
https://www.youtube.com/watch?v=DbXFuLom3Ws&t=1s