Jeddah: The Libyan Audit Bureau has entered into a memorandum of understanding with the Arab Organization of Supreme Audit Institutions (ARABOSAI) to bolster oversight work within the organization. This agreement was signed during the 16th ARABOSAI General Assembly meetings held in Jeddah.
According to Libyan News Agency, the memorandum focuses on strengthening both bilateral and multilateral cooperation among supreme audit institutions. It aims to facilitate the exchange of professional and technical expertise in auditing and oversight. The agreement also outlines the development of modern oversight methodologies aligned with international best practices, emphasizing the importance of coordinating regional efforts to enhance oversight performance within member states.
The agreement includes plans to launch joint training and development programs and initiatives. It also seeks to standardize certain oversight practices among Arab institutions and reinforce the organizational and professional role of the General Secretariat. This initiative supports the Libyan Audit Bureau’s role in managing the General Secretariat of the AFROSAI-Arab Organization.