Abu-Ghazaleh and Kharabsheh Sign a Contract to Implement Audit Methodologies Development Project

To be implemented by IASCA

Abu-Ghazaleh and Kharabsheh Sign a Contract to Implement Audit Methodologies Development Project

D. Abu-Ghazaleh: The Society and the Bureau are partners in implementing the project with the support of the World Bank

Kharabsheh: The Bureau considers TAG-Org as one of the national institutions that serve the national economy

AMMAN – December 8, 2015- The International Arab Society of Certified Accountants (IASCA), chaired by HE Dr. Talal Abu-Ghazaleh, and the Audit Bureau chaired by HE Dr. Abed Kharabsheh, signed the contract of the audit methodologies development project for Jordan Audit Bureau in the presence of the representative of the World Bank Mr. Jad Mazahreh.

This contract has come after the Society won the tender of strengthening the institutional capabilities of the employees of Jordan Audit Bureau through the development of the audit methodologies conducted in the Bureau financed by the World Bank. This project involves the preparation of operating procedures manuals, guidelines and workshops. In addition, it would apply leading audit projects to the state-owned businesses according to the best international standards and practices; taking into account the applicable legislations. It also includes auditing of major projects of the public-private partnerships.

The contract aims to implement the Bureau’s plan for executing development projects and increasing level of professionalism in some specialized fields of audit including the financial audit of the government-owned businesses, the audit of the major projects of the public-private partnershipsas well as the enhancement of the quality of the audit outcomes and the administration letters as a part of the financial audit and the audit methodology that manages the major projects for public-private partnerships.

Dr. Abu-Ghazaleh stressed “the Society and the Bureau are partners in implementing this project with the support of the World Bank that always focuses on the sustainable and capacity-building projects.”

He thanked President of the Bureau for his prominent role in safeguarding the public assets, pointing out to the importance of the project in achieving this goal.

He clarified “this agreement is a true embodiment of the public-private partnership that His Majesty King Abdullah II persistently called for, pointing out that education is a constant need that does not stop at a certain point.

He added: “We, at TAG-Org, continuously concentrate on training and development. Our main mission is to build capacities at the Jordanian and world levels to achieve education democracy for all in different places and regions through Talal Abu-Ghazaleh University.”

Meanwhile, Mr. Kharabsheh expressed his happiness for signing the contract and thanked Dr. Abu-Ghazaleh for his work and knowledge in the field of auditing and for being one of the famous personalities in many professional fields in Jordan and the world.

He stated “the Bureau considers TAG-Org as one of the national institutions that serves the national economy and one of the highly-qualified leading competitive institutions”, expressing his happiness with this cooperation in the development of the accounting profession.

He also stressed that “this agreement is a progress toward professionalism through the public-private mutual efforts as a tool to improve the quality of performance, support and ongoing development for the state institutions.

On his part, Representative of World Bank Mr. Mazahreh stressed “the World Bank is always happy with these partnerships whose mission is to serve the national economy”, expressing hopes that “this project will achieve the best results at the end of its application.”

The project consists of three phases: implementing the audit procedures manuals, holding workshops for training on manuals and applying manuals through field audit of a sample of the state-owned and partially state-owned businesses.

According to the tender, International Public Sector Accounting Standards Book, which is to be translated by the Society, will be distributed to the Bureau’s employees.

It is noteworthy that the Society started with the second phase of the Bureau’s first tender which it won before, relating to the preparation of training courses for the institute affiliate of the Bureau.

About the Audit Bureau:

The Audit Bureau was established in 1952 in accordance with the Audit Bureaus Law no 28 of 1952 to audit the government revenues, expenditures and the manners of the expenditures. It continues its active role in auditing the public money to ensure that spending has been carried out in a sound, legal, and effective manner.

About the International Arab Society of Certified Accountants:

The Arab Society of Certified Accountants (Jordan) was established in 1986 as a non-profit professional accounting organization of the elite of Arab accountants. ASCA (Jordan) aims at maintaining professional independence of accountants, ensuring their protection and applying professional supervision standards as a means to promote accounting and auditing professions.

About the World Bank:

It is one of the UN agencies concerned with development and poverty alleviation; the aim at which it dedicates all of its work. It focuses its efforts on the Millennium Development Goals approved by members of the UN in 2000 aimed at achieving sustainable poverty alleviation.