Seoul: 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 countries in the fields of accounting, auditing, and professional work.
According to Saudi Press Agency, 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. The MoU aims to exchange expertise, build professional capacities, and develop professional work manuals in financial and compliance auditing as well as performance auditing. The collaboration will be furthered through joint workshops and specialized training programs on topics of mutual interest.
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). Dr. Alangari emphasized GCA's commitment to boosting cooperation and expanding partnerships with peer institutions through several MoUs. These agreements underscore the court's standing at regional and international levels and its role in sharing expertise with member institutions of audit organizations.
BAI Chair Choe noted the significance of this MoU in enhancing joint work between the institutions, contributing to performance efficiency and improving the quality of auditing in both GCA and BAI. Following the signing ceremony, a meeting was held to discuss areas of joint work and ways of alignment on related topics, with specialists from both institutions participating.
This initiative is part of GCA's efforts to strengthen its strategic partnerships with peer institutions globally, with the aim of exchanging professional expertise and developing specialized programs that serve the objectives of cooperation.