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IASCA and the Libyan Audit Bureau Launch Professional Certification Program in Accordance with INTOSAI Standards

18-Oct-2022 | Source : AG-IP-News Agency | Visits : 2615
IASCA and the Libyan Audit Bureau Launch Professional Certification Program in Accordance with INTOSAI Standards

Special to AG-IP-News Agency 

AMMAN - The International Arab Society of Certified Accountants (IASCA) in cooperation with the Libya Audit Bureau has organized a digital ceremony to launch the “Professional Certification Program Specialized in Auditing Work of the Libyan Audit Bureau in accordance with the INTOSAI Standards” project which is funded by the USAID in Libya.

The ceremony was held in the presence of the Guest of Honor, HE Dr. Talal Abu-Ghazaleh, chairman of IASCA, and the President of the Libyan Audit Bureau, Mr. Khalid Shakshak, with the participation of the United States Special Envoy for Libya, Ambassador Richard Norland, General Supervisor of the General Assembly of the Arab Organization of Supreme Audit Institutions (ARABOSAI), Mr. Al-Munji Al-Hamami, First President of the Court of Accounts in Tunisia and the Secretary General of the ARABOSAI, Dr. Nejib Gtari, and Acting Director of the USAID Mission in Libya, Mr. Nathan Park.

The program aims at developing professional material based on international standards and the relevant instructions issued by the INTOSAI which covers  the three types of auditing: financial, compliance, and performance auditing. This is to establish an efficient and effective supervisory body armed with qualified human resources.

During the event Mr. Shakshak thanked all those who participated in the ceremony, praising the role USAID plays in Libya in providing the necessary support and funding for the project. At the same time he highly commended IASCA’s role in implementing such an important project.  

Mr. Shakshak further stressed the important role the supervisory bodies play in protecting public funds, and in attaining a high level of transparency in presenting the financial statements in accordance with the INTOSAI standards. He also noted that the Libya Audit Bureau’s goals and strategic plan clearly underline the development of human resources and digital transformation.

Mr. Shakshak also affirmed that the program of the Specialized Professional Certificates for auditing work is one of the objectives of the Libyan Audit Bureau which aims to establish effective supervision over public funds to make sure that they are utilized in the most efficient manner.

For his part, Ambassador Norland emphasized the importance of safeguarding the Libyan public funds, noting that the USAID in Libya seeks to achieve economic stability in the country as well as fair distribution of resources, especially after the resumption of oil extraction.  

Ambassador Norland, further, thanked IASCA represented by its Chairman, Dr. Abu-Ghazaleh, for undertaking the technical part of the project by providing training courses for the Libyan accountants and auditors to qualify and build their capacities to carry out their duties effectively and transparently.

In his speech as the Guest of Honor, Dr. Abu-Ghazaleh stated that launching this project by the Libyan Audit Bureau is a great achievement that would positively affect the management and protection of the interests of the Libyan people.

Dr. Abu-Ghazaleh indicated that IASCA, since its establishment, has been exerting utmost efforts to establish the basis for protecting the profession, and setting its rules through its assumed responsibilities, which influenced the development of the profession; noting that IASCA will devote its expertise and resources to assist the Libyan Audit Bureau in adopting these standards. 

Dr. Abu-Ghazaleh also indicated that the standards are a consistent accounting reference that helps improve the quality of the financial reports provided by the public sector. "This will ultimately lead to better and more informed assessment decisions in the allocation of resources provided by governments, and thus increase transparency on business issues and provide periodic comparisons”, he said.

In his remarks, Mr. Al-Masallati gave a brief on the strategic plan developed by the Bureau in accordance with the INTOSAI standards, which aims at enhancing the performance of the Bureau, focusing on the institutional structure, developing human capabilities, and enhancing the professional supervision and the business ecosystem, as well as the communication with stakeholders.     

 The ceremony was also attended by Mr. Abdul Qader Rahhal, director of USAID’s Libya Public Financial Management program, and Dr. Jamal Tarayrah, expert at IASCA, where a technical presentation of the project, as well as the stages and mechanisms of its implementation were presented.

To watch the ceremony, please click the following link:


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