GAB President Dr. Hossam bin Abdul Mohsen Al-Anqari presented the report to King Salman at Al-Yamamah Palace in Riyadh.

:: Saudi Arabia’s King Salman on Tuesday received the 58th annual report of the General Auditing Bureau (GAB) for the fiscal year 1438/1439 (end-2017 to end-2018), which showed the total funds collected, supplied or provided to the public treasury amounted to SR9 billion.

GAB President Dr. Hossam bin Abdul Mohsen Al-Anqari presented the report to the king at Al-Yamamah Palace in Riyadh.

The king appreciated the performance of the bureau and its officials.

Al-Anqari said the amount collected, supplied or provided to the public treasury was four times more than the previous fiscal year.

“The total amount demanded to be collected by GAB was about SR38 billion, almost double the amount claimed back in the previous fiscal year. This substantial increase in the collected amounts reflects good performance of the bureau.”

The official said GAB has established electronic connections with around 100 government agencies in line with the royal directives to allow the bureau to establish Shamel e-audit system and to make it available to auditees for free.

He said GAB has established the Saudi Center for Financial Auditing and Performance Monitoring and provided a wide range of training programs to the staff of the internal audit departments at GAB’s auditees.

Al-Anqari said rental contracts have been finalized for a number of buildings that serve as GAB’s branch offices, highlighting that most of the new buildings for the branches have been completed in several provinces.

He said GAB continues to actively represent Saudi Arabia in regional and international organizations through his position as the second vice-chairman of the International Organization of Supreme Audit Institutions (INTOSAI), chairman of its committee on policies and financial and administrative affairs, and chairman of its donor steering committee.

“GAB is also an executive board member of the Arab Organization of Supreme Audit Institutions (ARABOSAI) and the Asian Organization of Supreme Audit Institutions (ASOSAI),” he added.

Following the Cabinet’s approval, he said, GAB signed a number of memorandums of understanding with its counterparts in the UAE, Egypt, Russia and the US to exchange experience in accounting, auditing and other professional issues.

The GAB chief thanked King Salman and Crown Prince Mohammed bin Salman for lending support to the bureau.

GAB President Dr. Hossam bin Abdul Mohsen Al-Anqari presented the report to King Salman at Al-Yamamah Palace in Riyadh.