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The Accounts Chamber of the Russian Federation and the General Auditing Bureau of the Kingdom of Saudi Arabia signed a Memorandum of Understanding on cooperation in the field of audit.

The document was signed by Tatyana Golikova, Chaiworman of the Accounts Chamber, and Mr. Hussam bin Abdulmohsen Alangari, President of the General Auditing Bureau of the Kingdom of Saudi Arabia.

The MOU is the first bilateral document signed by the General Auditing Bureau of Saudi Arabia with a supreme audit institution of another country.

The main objective of the Memorandum is development of cooperation between the two countries in the field of financial audit and performance audit within INTOSAI and other regional organizations of which they are members. In accordance with the signed agreement, the parties will implement joint research projects and activities including conducting training programs, organizing round tables and conferences on the relevant topics of financial audit and performance audit.

During the meeting, the participants noted the significance of the first state visit to Russia of His Majesty Salman bin Abdulaziz Al Saud, King of Saudi Arabia and the Custodian of the Two Holy Mosques. This historic moment, as was the general opinion of both parties, will serve as an impetus for the development of the entire complex of interstate relations and, first and foremost, will affect trade and economic relations of Russia and Saudi Arabia.

During the meeting, participants also confirmed their readiness to exchange good practices in fields of mutual interest, including the activities of the two control agencies in the international INTOSAI community.

“We would like to invite you to cooperate in the framework of the INTOSAI Committee on Goal 3. As you know, we head two working groups on public procurement and on key national indicators, and we would like to invite the specialists of your country to participate in the work of these groups,” addressed her Saudi colleagues Tatyana Golikova.

In turn, Mr. Hussam bin Abdulmohsen Alangari expressed hope that the Accounts Chamber of the Russian Federation will head INTOSAI in 2019. “We, the General Auditing Bureau of the Kingdom of Saudi Arabia, are looking forward to this along with all of our international community – I mean the Supreme Audit Institutions. This will enable us to cooperate closely and to have the opportunity to offer our experience in this important international organization,” - said Mr. Alangari.

Following the signing of the Memorandum of Understanding, the parties exchanged kind wishes and expressed confidence in the success of further professional cooperation.