Abu Ghazaleh Patronizes the Graduation Ceremony of the Libyan Audit Bureau Employees
Amman - The Arab Society for Certified Accountants (ASCA) has celebrated the graduation of the employees who participated in the qualifying training course that was held for the employees of the Libyan Audit Bureau, “Certified auditor in financial control according to the INTOSAI standards”.
The ceremony was patronized by H.E Dr. Talal Abu Ghazaleh, and attended by Mr. Aladdin Almasalati, deputy of the Libyan Audit Bureau, Mr. Abdul Qadir Al-Rahal, director of the Public Fund Management Program in Libya, Mr. Adel Al-Qassar, and Mr. Tariq Al-Aydoudi from the project’s team.
The training course is part of the framework of implementing the project of enhancing the capabilities of the employees of the Libyan Audit Bureau in the financial control related issues according to the INTOSAI standards. The project is financed by the USAID.
In addressing the ceremony, Dr. Talal Abu Ghazaleh emphasized that this project is a great achievement in the pathway of the Libyan Audit Bureau that will have great influence on the management and protection of the gains of the Libyan people. Dr. Abu Ghazaleh praised the efforts of the Bureau regarding the development of the professional capabilities of its employees.
He also expressed his thanks for the Libyan Audit Bureau and those in charge for their confidence in ASCA, emphasizing ASCA’s readiness to exert the utmost efforts to serve the Bureau and all other Libyan institutions and departments.
Mr. Aladdin Almasalati, deputy of the Libya Audit Bureau, acknowledged the USAID’s efforts in Libya for their support for the project.
Mr. Almasalati added that the program is part of the Bureau’s objectives to achieve effective control over the public funds and to employ such funds appropriately and efficiently. Therefore, a professional material was developed based on the international standards and the relevant instructions issued by the INTOSAI which cover the three following types of auditing: Financial, Compliance, and Performance auditing, to establish an efficient and effective supervisory body by the hands of professionally qualified candidates.
The subjects of the training course focus on the concept and objectives of financial auditing and how the auditing contributes to adding value for people, how to mitigate the risks and threats the auditor faces during the audit, and how to address the risks that limit the entity’s ability to achieve its objectives.
The Arab Society for Certified Accountants (ASCA)
In 1986, ASCA (Jordan) was established as a professional accounting nonprofit body by an elite of Arab accountants with the aim of preserving the professional independence and assuring the protection of accountants. ASCA aims at applying the standards of professional supervision over accountants to raise the bar for the professions of accounting and auditing.
Libya Audit Bureau
The Libya Audit Bureau is the highest body of financial control and accounting in Libya. The Bureau is a professional unbiased independent body, that has a legal personality and an independent personal financial status. It primarily aims to achieve effective control over public funds to ensure the proper use of such funds and how to allocate them by examining and reviewing accounts and evaluating the performance of all entities subject to its control.