Court of Audit stresses importance of enhancing transparency, accountability, and public resource management

Geneva, September 29 (KUNA) -- The Court of Audit emphasized today, Tuesday, the importance of strengthening the principles of transparency, accountability, and sound management of public resources, stressing the necessity of shifting from ex-post control to preventive oversight to enhance the efficiency of government financial management and mitigate risks before they materialize. This was stated in a speech delivered by the President of the Court of Audit, Nada Al-Suhaili, at the 43rd meeting of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) of the United Nations Conference on Trade and Development (UNCTAD), held in Geneva until October 2.

Al-Suhaili outlined Kuwait’s experience in governance and preventive financial oversight, highlighting their role in supporting institutional sustainability and safeguarding public funds, alongside the Court’s vision for developing oversight systems and enhancing their effectiveness in supporting government financial decision-making. She underscored the importance of improving the quality of both financial and non-financial information as a fundamental pillar for supporting decision-makers and strengthening the capacity of government institutions to respond to sustainability requirements. She also emphasized the need to develop human and institutional capacities, and to leverage modern technologies, digital transformation, and artificial intelligence in advancing financial oversight systems.

Al-Suhaili noted that institutional sustainability does not begin with the preparation of a report, and that effective oversight does not start after an error has occurred. In this context, she stressed the importance of building preventive oversight systems capable of supporting the decision-making process, enhancing integrity and transparency, protecting public funds, and achieving long-term sustainability.

The Kuwait Court of Audit delegation, led by Al-Suhaili, included Fouad Al-Tabtabaee, Director of the Financial Control Department; Ali Al-Shamari, Director of the Court of Audit Office; and Dina Al-Subaih, Assistant Financial Controller. Their participation is part of the Court’s engagement in the meeting and its side events.

Kuwait’s participation in the meeting reflects its commitment to strengthening its presence at international forums focused on governance, sustainability, and financial reporting, as well as its aim to benefit from international expertise and practices and exchange experiences with participating institutions and organizations. The participation also reflects the Court’s interest in enhancing cooperation with UNCTAD and the ISAR to develop oversight practices and support efforts to achieve the Sustainable Development Goals.

The meeting’s proceedings are preceded by an event held today on building the organizational, institutional, and human capacities necessary to implement globally recognized sustainability reporting requirements. (End) A.M.Kh./M.A.A.