Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi stated that the diligent efforts of the member states to enhance transparency and establish an advanced accounting monitoring system are key elements that have enabled them to attain a distinguished regional and global position.
Addressing the 21st meeting of the heads of financial and accounting audit bureaus, held in Doha, Qatar, Albudaiwi expressed his gratitude to the State of Qatar for hosting the event and providing unwavering support to the GCC. He highlighted the significant achievements of the GCC in fostering cooperation and integration across all fields, reflecting the aspirations of the member states’ leaders and citizens.
Albudaiwi praised the GCC’s journey, which has achieved significant accomplishments contributing to the attainment of many goals outlined by the leaders of the GCC member states. These goals aim to enhance cooperation and integration in all fields. He noted that efforts are ongoing to reach the hig
hest levels of integration in response to the aspirations of the leaders of the GCC and the ambitions of their citizens.
Furthermore, he expressed the interest and aspirations of the heads of financial and accounting audit bureaus in the member states to approve several decisions and regulatory guidelines aimed at enhancing joint Gulf cooperation in the field of financial control and accounting.
“This serves as a clear indication of the importance of the existing cooperation among the GCC member states in this vital area,” he stressed, emphasizing that this cooperation not only contributes to enhancing financial transparency and credibility but also serves as a fundamental pillar supporting sustainable development and achieving the desired economic integration among the GCC countries.
“The consultation and agreement on regulatory guidelines reflect the commitment of the member states to international standards and best global practices, thereby enhancing investor confidence and supporting the stability of
the Gulf economy in facing regional and global challenges,” he added.
Albudaiwi also pointed out that the Committee of Heads of Financial and Accounting Audit Bureaus of the GCC is steadily progressing toward achieving cooperation and integration in the fields of financial and accounting oversight. This is being accomplished by improving monitoring mechanisms for public funds and enhancing cooperation among the audit bureaus through the establishment of organized frameworks and controls for regulatory work, in line with plans and strategies aimed at developing and improving performance efficiency and adopting best professional practices.
Additionally, he noted that the GCC countries have gained a distinguished regional status in various fields, including political, economic, and investment areas, leading in many international indicators that place them on par with the most advanced countries.
“This is particularly significant as many countries and organizations are actively seeking to establish strategic p
artnerships with the GCC, due to its credibility and steadfast commitment to transparency and sustainability across all its national institutions,” he concluded.
The meeting was chaired by President of the State Audit Bureau of Qatar and president of the current session Abdulaziz bin Mohammed bin Ahmed Al Emadi.
Source: Saudi Press Agency
