ISLAMABAD: Pakistan and Saudi Arabia have signed a Memorandum of Understanding (MoU) to enhance cooperation in auditing, accounting, and professional standards.
The MoU, signed in Islamabad on Monday by Saudi General Court of Audit (GCA) President Dr. Hussam Alangari and Pakistan’s Auditor General Muhammad Ajmal Gondal, aims to foster collaboration in financial oversight and performance monitoring, the Saudi Press Agency (SPA) reported.
Alangari expressing his views on the occasion said that this MoU is part of a series of agreements signed by the GCA with peer institutions in friendly and brotherly countries.
These agreements demonstrate the GCA’s high professional status at the regional and global levels and its vital role in sharing its distinguished expertise with peer institutions that are members of regional and international organisations for supreme audit institutions.
He pointed out that the MoU aims to strengthen cooperation between the GCA and the Auditor General’s Office in Pakistan in financial and compliance auditing and performance monitoring. This cooperation will be achieved through various research and consultancy projects and by organising meetings, conferences, and training programs on topics of mutual interest.
The collaboration will occur within the framework of the International Organisation of Supreme Audit Institutions (INTOSAI) and the Asian Organisation of Supreme Audit Institutions (ASOSAI).
Alangari went on to say that the agreement will be implemented through direct coordination between the two institutions, including joint meetings, training courses, and forming committees and task forces to outline work mechanisms and implementation timelines.
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He also handed over the peer review report to the Pakistani auditor general, detailing the audit work conducted by the GCA in the Auditor General’s Office. Saudi Ambassador to Pakistan Nawaf Al-Malki attended the signing ceremony.
The Saudi delegation arrived in Pakistan on Sunday on a four-day official visit to Pakistan.
According to Arab News Pakistan and Saudi Arabia are close regional partners and economic allies, and both countries signed 34 agreements worth $2.8 billion in October last year. Saudi Arabia is home to over 2 million Pakistani expatriates, serving as the top destination for remittances for the cash-strapped South Asian country.
