Au­dit Bureau says US visit was to gain ex­per­tise

Kuwait Times - - LOCAL -

Act­ing Chair­man for the State Au­dit Bureau of Kuwait Adel Al-Saraawi said yes­ter­day that his visit to Wash­ing­ton aimed to ben­e­fit from the ex­per­tise of sim­i­lar bod­ies around the world. Kuwait is on the verge of switch­ing from the tra­di­tional au­dit­ing method­ol­ogy to Risk-based In­ter­nal Au­dit (RBIA), in­clud­ing au­dits based on in­for­ma­tion tech­nol­ogy and ser­vice as­sur­ance, in or­der to im­prove mon­i­tor­ing ser­vices in the coun­try.

A time­frame be­tween 2018 and 2020 has been set for the plans, he said, which have been praised by US coun­ter­parts, whom have pledged to meet with the Kuwaitis on an an­nual ba­sis and of­fer work­shops and ex­per­tise ex­change fo­rums. Ex­per­tise de­liv­ered at these fo­rums will fo­cus on four ma­jor top­ics, said Saraawi, in­clud­ing IT au­dit­ing, oil and gas ex­ca­va­tion, risk as­sess­ment and per­for­mance mea­sure­ment in­di­ca­tors.

This ex­change will bring Kuwait up to par with ad­vanced coun­tries in the field of au­dit­ing, he men­tioned. On the con­clu­sion of his two-day visit, he said he met with World Bank rep­re­sen­ta­tives, whom he briefed on Kuwait’s am­bi­tions and the chal­lenges fac­ing the coun­try’s au­dit­ing body in train­ing its em­ploy­ees.

Mean­while, the World Bank ex­pressed readi­ness to pro­vide Kuwait with many as­pects of its own ex­per­tise on the mat­ter, he said. Saraawi’s trip to the US also saw him visit the US Govern­ment Ac­count­abil­ity Of­fice (GAO), where he was wit­ness to the body’s role in con­duct­ing the High Risk List - a bi­en­nial re­port which high­lights state bod­ies and pro­grams that face the risk of fraud, waste, abuse or mis­man­age­ment.

Kuwait’s State Au­dit Bureau is ex­tremely keen to ben­e­fit from global ex­per­tise, and has in­creased its in­ter­ac­tions with other coun­tries. This month alone, Saraawi said Kuwaiti rep­re­sen­ta­tives held meet­ings, in the aim of tech­ni­cal co­op­er­a­tion, with their coun­ter­parts from China, In­dia and South Korea. In China, they dis­cussed de­vel­op­ing staff po­ten­tials, while talks in In­dia fo­cused on IT au­dit­ing and the Orange Book eval­u­a­tion sys­tem along with dis­cus­sions in South Korea on au­dit­ing re­lated to con­struc­tion projects. —KUNA

WASH­ING­TON: Act­ing Chair­man for the State Au­dit Bureau of Kuwait Adel Al-Saraawi at­tends a meet­ing dur­ing his visit to US au­dit and ac­count­ing ap­pa­ra­tuses. — KUNA

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