Riyadh, October 29, 2024 – The 19th Annual Symposium of the General Court of Audit (GCA) launched today in Riyadh, focusing on “Auditing and Enhancing Public Finance Performance Through Accrual-Based Accounting Principles.” Hosted by the Saudi Center for Financial and Performance Auditing (SCFPA), the event brought together key figures in finance and auditing from Saudi Arabia and abroad at the GCA headquarters. The symposium began with an address by GCA President Dr. Hussam Alangari, followed by a keynote speech from the U.S. Comptroller General, Gene L. Dodaro.
The symposium features two significant panel discussions. The first panel, titled “Preparing and Auditing the Consolidated Financial Statements of the State,” included esteemed speakers like Dr. Isma Yatun of Indonesia’s Audit Board and Abdulaziz Alfuraih from Saudi Arabia's Ministry of Finance. They discussed strategies for consolidating and auditing financial statements in alignment with Saudi Arabia’s fiscal policies.
The second panel focused on “Financial Planning Using the Accrual Basis,” with speakers such as Dr. Radhi Al-Hamadeen, President of Jordan’s Audit Bureau, and Dr. Marc Robinson from the OECD Advisory Panel. This panel highlighted approaches to advance financial planning through accrual-based accounting.
The symposium also featured a booth showcasing GCA’s initiatives in advancing the adoption of accrual accounting in the Kingdom’s public sector, in collaboration with SCFPA and the Saudi Institute of Internal Auditors. This initiative aligns with Saudi Arabia’s efforts to modernize its public finance and accounting standards.
