GCC chief editors examine means of closer cooperation

DOHA, Oct 13 (KUNA) -- The 14th meeting of GCC chief auditors and accountants got underway here on Tuesday, with agenda basically stipulating plans for bolstering cooperation and integration of the auditing systems among the member states.
Qatar's Head of the Audit Bureau Bandar Bin Mohammad Al-Thani said in the opening statement that the conferees would examine training strategies, preparation of studies, researches and the common auditing project.
The GCC states are currently witnessing extraordinary conditions, due to falling oil prices, he said, noting that the member states need to revise their development strategies to withstand effects of the bearish crude prices. Moreover, "this warrants that auditing be up to level of challenges to ensure sound control of financial resources, avert squandering or misappropriation of the (financial) resources," the chief Qatari auditor pointed out.
Furthermore, Bandar Bin Mohammad indicated that to attain abovementioned goals, greater coordination is warranted among the GCC countries.
Dr. Abdul Latif bin Rashid Al-Zayani, the GCC Secretary General, addressed the inaugural session, underscoring role of the audit authorities in the GCC countries that play a crucial role in preserving public funds and the countries' financial resources. However, he called for greater cooperation and employment of more advanced methods and techniques to revamp the sector in the regional states.
The Kuwaiti delegation taking part in the meeting includes the Audit Bureau Acting Chairman, Abdel Abdulaziz Al-Saraawi. (end) nnd.rk