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General Bureau for Auditing, in Cooperation with WB, Concludes the “Transition to the Accrual Basis of Accounting” Workshop

Riyadh, May 26, 2022, SPA-- General Bureau for Auditing, in cooperation with the World Bank (WB), has concluded a workshop on "Transition to the Accrual Basis of Accounting", which was organized at its main office in Riyadh from 23-26 May.

The workshop, which was attended by several Bureau employees, was presented by the Global Head of International Public Sector Accounting Standards (IPSAS), partner at Ernst & Young, Chair of the Public Sector Group of the Federation of European Accountants, and Herve-Adrien Metzger. IPSAS Board Member, the Director of External Audit at the World Trade Organization, and advisor at the National Audit Office of France discussed various topics, including the challenges facing the auditor when reviewing financial statements prepared per accounting standards for the public sector, with an explanation of several IPSAS applications.

The workshop also included introducing the conceptual frameworks and practical effects used in auditing in the public sector, the financial reporting mechanisms included in the work structure of IPSAS, and the latest developments on the work plan of the IPSAS Board and its future plans.

This workshop is a reflection of the cooperation between the Bureau and the World Bank, where the Bureau, represented by the Saudi Center for Financial and Performance Auditing (SCFPA), provides several qualitative programs in transformation in accounting and auditing work in the public sector in partnership with the World Bank. The cooperation between the two sides has resulted in awarding several of the Bureau’s employees the International Public Sector Accounting Standards Certificate (Cert IPSAS), offered by the British Association of Chartered Certified Accountants (ACCA).

Source: Saudi Press Agency