GCC Secretary-General Jasem Albudaiwi Highlights Notable Efforts To Safeguard Public Funds

The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Albudaiwi, highlighted the significant efforts made by GCC countries to protect public funds through their regulatory bodies. He spoke during the 22nd meeting of the Heads of Financial and Accounting Audit Bureaus of GCC states in Kuwait City. The session was led by Esam Salem Al-Roumi, Chief of Kuwait's Audit Bureau.

Albudaiwi commended the collaborative efforts of GCC nations to enhance their supervisory bodies' performance. He emphasised coordination and integration among these entities as crucial for achieving the GCC's goals. This cooperation is vital for advancing joint Gulf action in auditing and accounting sectors.

The Secretary-General also discussed a strategic training plan for 2023-2025, which aims to support development and capacity-building in audit work. This plan will be followed by another for 2026-2028, designed to meet future needs and improve professional skills within audit organisations.

The General Secretariat prepared the meeting agenda based on outcomes from the 26th meeting. The agenda includes various topics intended to strengthen joint Gulf action in auditing and accounting. These discussions are expected to contribute significantly to enhancing cooperation among GCC states in these fields.

Albudaiwi noted that these initiatives are part of ongoing efforts to bolster the effectiveness of regulatory bodies across GCC countries. By focusing on training and development, these plans aim to ensure that audit institutions remain capable of addressing future challenges effectively.

The meeting underscored the importance of continuous improvement in regulatory practices within the GCC. By fostering collaboration and sharing best practices, member states aim to safeguard public funds more effectively while promoting transparency and accountability.

With inputs from SPA