Home
The Financial Supervision Authority announces the preparation of a draft of the updated unified accounting system
Office of Financial Supervision Building
money and business
Economy News - Baghdad
On Thursday, the Financial Supervision Bureau announced that
measures had been taken to develop and improve the accounting and auditing professions in Iraq, and while
it referred to the issuance of the internal control guide binding on all government agencies,
it confirmed the preparation of a draft of the updated unified accounting system in accordance with international standards.
The Assistant Head of the Financial Supervision Bureau, Qaiser Al-Saadi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that
“the Federal Financial Supervision Bureau seeks to achieve its goals specified in accordance with its founding law, including developing the accounting and auditing professions in Iraq.” He explained that
"one of the most prominent steps taken by the Bureau is issuing reports evaluating internal control systems in ministries and entities not affiliated with a ministry and governorates," indicating that
"the goal of this is to
raise the level of performance of these formations,
enhance efforts to combat financial and administrative corruption,
improve institutional performance, and
work on the principle of preventive oversight." To reduce this phenomenon. He pointed out that
“the Bureau has issued an internal control guide that has been circulated to all government agencies for mandatory adoption starting from 7/1/2024,” noting that
“this guide aims to help these agencies accomplish their work in a way that ensures tight supervision and control.” on financial transactions and preservation of public money.” He added,
"The Bureau has finished preparing the draft of the updated unified accounting system in accordance with international standards.
This draft has been circulated to government agencies, unions, and universities for the purpose of expressing opinions and making appropriate amendments in preparation for its actual implementation in the near future." He continued:
"The Bureau also contributed to the holding of the first session of the Regulatory and Accounting Standards Council in the Republic of Iraq for the year 2024 after a break of more than four years.
During this session, oversight and accounting issues were discussed and appropriate decisions were taken regarding them, which contributes to developing the work of the profession in Iraq." He pointed out,
"These steps come within the framework of the Bureau's commitment to
developing and improving the accounting and auditing professions in Iraq in line with
international standards and contributing to
enhancing integrity and transparency in government institutions." He continued,
“The Bureau relies, in performing its work, on international standards issued by the International Organization of Supreme Audit Institutions (INTOSAI), and
the Bureau is also a
prominent member of the organization and has many contributions, including participating as a
member of (5) working groups and attending seminars between INTOSAI and the United Nations.”
And cooperation with the INTOSAI Development Initiative in its various programs, in addition to the Bureau assuming the presidency of the organization’s strategic planning committee.” Al-Saadi stated that
“the Bureau has cooperation with international and local organizations and counterpart supervisory bodies such as the
Dutch Court of Audit, in the field of performance evaluation and peer review, the
Court of Accounts in Morocco in the field of judicial oversight, the
Polish Oversight Service in the field of auditing according to the risk method, as well as the
German Cooperation Agency (German Cooperation Agency) Giz), the
Korea International Cooperation Agency (Koica), the
Japan International Cooperation Agency (Jika) and the
Indian Technical and Economic Cooperation (ITEC) programme. He pointed out,
“the numerous activities with the regulatory bodies in the Arab and Islamic countries, such as the
General Accounting Bureau in the Kingdom of Saudi Arabia, the
Audit Bureau in the State of Qatar, the
Turkish Court of Accounts, the
Supreme Court of Audit in the Islamic Republic of Iran, the
Accounting Council in the Republic of Algeria, and many others,” pointing out that
“these Standards and evidence, along with international cooperation, contribute to enhancing the effectiveness and efficiency of the Bureau in exercising its oversight work in a way that ensures transparency and integrity in government institutions.” He stressed
“the commitment of the Federal Financial Supervision Bureau to enhance transparency and integrity in all state institutions by working in accordance with international standards and effective cooperation with regulatory authorities and international organizations,” stressing
“continuing efforts in
developing the accounting and auditing professions and
providing technical and accounting support to ensure performance is achieved.” Optimization and preservation of public money, as well as attaching great importance to
supporting the role of youth in building the future by enhancing their capabilities to be true partners in combating corruption and evaluating government performance in order to achieve the desired goals.”
views 258 Added 07/11/2024 - 5:37 PM
[You must be registered and logged in to see this link.]
Office of Financial Supervision Building
money and business
Economy News - Baghdad
On Thursday, the Financial Supervision Bureau announced that
measures had been taken to develop and improve the accounting and auditing professions in Iraq, and while
it referred to the issuance of the internal control guide binding on all government agencies,
it confirmed the preparation of a draft of the updated unified accounting system in accordance with international standards.
The Assistant Head of the Financial Supervision Bureau, Qaiser Al-Saadi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that
“the Federal Financial Supervision Bureau seeks to achieve its goals specified in accordance with its founding law, including developing the accounting and auditing professions in Iraq.” He explained that
"one of the most prominent steps taken by the Bureau is issuing reports evaluating internal control systems in ministries and entities not affiliated with a ministry and governorates," indicating that
"the goal of this is to
raise the level of performance of these formations,
enhance efforts to combat financial and administrative corruption,
improve institutional performance, and
work on the principle of preventive oversight." To reduce this phenomenon. He pointed out that
“the Bureau has issued an internal control guide that has been circulated to all government agencies for mandatory adoption starting from 7/1/2024,” noting that
“this guide aims to help these agencies accomplish their work in a way that ensures tight supervision and control.” on financial transactions and preservation of public money.” He added,
"The Bureau has finished preparing the draft of the updated unified accounting system in accordance with international standards.
This draft has been circulated to government agencies, unions, and universities for the purpose of expressing opinions and making appropriate amendments in preparation for its actual implementation in the near future." He continued:
"The Bureau also contributed to the holding of the first session of the Regulatory and Accounting Standards Council in the Republic of Iraq for the year 2024 after a break of more than four years.
During this session, oversight and accounting issues were discussed and appropriate decisions were taken regarding them, which contributes to developing the work of the profession in Iraq." He pointed out,
"These steps come within the framework of the Bureau's commitment to
developing and improving the accounting and auditing professions in Iraq in line with
international standards and contributing to
enhancing integrity and transparency in government institutions." He continued,
“The Bureau relies, in performing its work, on international standards issued by the International Organization of Supreme Audit Institutions (INTOSAI), and
the Bureau is also a
prominent member of the organization and has many contributions, including participating as a
member of (5) working groups and attending seminars between INTOSAI and the United Nations.”
And cooperation with the INTOSAI Development Initiative in its various programs, in addition to the Bureau assuming the presidency of the organization’s strategic planning committee.” Al-Saadi stated that
“the Bureau has cooperation with international and local organizations and counterpart supervisory bodies such as the
Dutch Court of Audit, in the field of performance evaluation and peer review, the
Court of Accounts in Morocco in the field of judicial oversight, the
Polish Oversight Service in the field of auditing according to the risk method, as well as the
German Cooperation Agency (German Cooperation Agency) Giz), the
Korea International Cooperation Agency (Koica), the
Japan International Cooperation Agency (Jika) and the
Indian Technical and Economic Cooperation (ITEC) programme. He pointed out,
“the numerous activities with the regulatory bodies in the Arab and Islamic countries, such as the
General Accounting Bureau in the Kingdom of Saudi Arabia, the
Audit Bureau in the State of Qatar, the
Turkish Court of Accounts, the
Supreme Court of Audit in the Islamic Republic of Iran, the
Accounting Council in the Republic of Algeria, and many others,” pointing out that
“these Standards and evidence, along with international cooperation, contribute to enhancing the effectiveness and efficiency of the Bureau in exercising its oversight work in a way that ensures transparency and integrity in government institutions.” He stressed
“the commitment of the Federal Financial Supervision Bureau to enhance transparency and integrity in all state institutions by working in accordance with international standards and effective cooperation with regulatory authorities and international organizations,” stressing
“continuing efforts in
developing the accounting and auditing professions and
providing technical and accounting support to ensure performance is achieved.” Optimization and preservation of public money, as well as attaching great importance to
supporting the role of youth in building the future by enhancing their capabilities to be true partners in combating corruption and evaluating government performance in order to achieve the desired goals.”
views 258 Added 07/11/2024 - 5:37 PM
[You must be registered and logged in to see this link.]
