The Kingdom of Saudi Arabia, represented by the General Court of Audit (GCA), and Korea, represented by the Board of Audit and Inspection (BAI), signed a memorandum of understanding (MoU) today at the headquarters of BAI in Seoul to enhance cooperation between the two friendly countries in the fields of accounting, auditing, and professional work.
The agreement was signed by GCA President Dr. Hussam Alangari and BAI Chair Choe Jaehae, in the presence of Saudi Ambassador to Korea Sami Alsadhan.
Through the MoU, the two sides aim to exchange expertise, build professional capacities, and develop professional work manuals in financial and compliance auditing as well as performance auditing.
Joint workshops and specialized training programs on topics of mutual interest will further these objectives.
The agreement aligns with both parties’ membership in the International Organization of Supreme Audit Institutions (INTOSAI) and the Asian Organization of Supreme Audit Institutions (ASOSAI).
Alangari stressed GCA’s continuous pursuit of boosting cooperation and expanding partnerships with peer institutions in brotherly and friendly countries through several MoUs.
These agreements reflect the court’s distinguished professional standing at regional and international levels and its vital role in sharing its expertise with member institutions of regional and international audit organizations.
BAI chair Choe highlighted the importance of this MoU in enhancing joint work between the two institutions, contributing to enhancing performance efficiency and improving the quality of auditing in GCA and BAI.
Following the signing ceremony, the two sides held a meeting to discuss areas of joint work and ways of alignment on several related topics, with the participation of specialists from both institutions.
This initiative comes as part of the GCA’s efforts to boost its strategic partnerships with peer institutions in several countries, with the aim of exchanging professional expertise and developing and implementing specialized programs that serve the objectives of cooperation.
