19th Annual GCA Symposium Commences In Riyadh To Discuss Public Finance Performance

The 19th Annual Symposium of the General Court of Audit (GCA) began in Riyadh, focusing on "Auditing and Enhancing Public Finance Performance Through Accrual-Based Accounting Principles." Organised by the Saudi Center for Financial and Performance Auditing (SCFPA), the event gathered government officials, specialists, and experts from both national and international arenas at the GCA headquarters.

GCA President Dr. Hussam Alangari delivered the opening speech, followed by a keynote address from Gene L. Dodaro, Comptroller General of the United States. The symposium featured two panel discussions that explored key topics related to financial auditing and planning.

The first panel discussion focused on "Preparing and Auditing the Consolidated Financial Statements of the State." Participants included Dr. Isma Yatun from Indonesia's Audit Board, Abdulaziz Alfuraih from the Ministry of Finance, Laama Alhammadi from GCA, and Wael Abou Zaki from PwC Middle East.

The second panel addressed "Financial Planning Using the Accrual Basis." It featured insights from Dr. Radhi Al-Hamadeen of Jordan's Audit Bureau, Abdulaziz Almutawa from GCA, Hamad Alkanhal from the Ministry of Finance, Rakan Alsheikh from the Ministry of Economy and Planning, and Dr. Marc Robinson from OECD's Advisory Panel on Budgeting.

A booth at the symposium showcased GCA's initiatives to transition Saudi Arabia's government accounting system to accrual accounting in collaboration with SCFPA and the Saudi Institute of Internal Auditors. This effort aims to enhance transparency and efficiency in public sector financial management.

The event underscored the importance of adopting accrual-based accounting principles to improve public finance performance. By bringing together experts and officials, it facilitated discussions on best practices and strategies for effective financial auditing and planning in Saudi Arabia.

With inputs from SPA