An agreement between Central Agency for Financial Supervision and Russian Chamber of Accounts in St. Petersburg Forum

Economy

The Central Agency for Financial Supervision signed a joint cooperation agreement with the Chamber of Accounts of the Russian Federation, with the aim of enhancing and developing prospects for Syrian-Russian cooperation in the field of oversight work and the exchange of experiences and knowledge.

The signing of the agreement came on the sidelines of the activities of the 26th  St. Petersburg International Economic Forum, which was held in the Russian Federation, with the participation of the delegation of the Syrian Arab Republic headed by Minister of Finance Dr. Kinan Yaghi.

The delegation of the Central Agency for Financial Supervision also participated in the “Global Financial Risks and New Challenges of External Review” session at the forum and in many specialized meetings.

During the session, Head of the Agency, Muhammad Barq, shed light on the issue of information technology control, the role of the regulatory body in analyzing and identifying financial risks, and how to benefit from information technology in monitoring work and drawing conclusions, given that the whole world is moving towards digitization and relying on technical programs in organizing financial and accounting business.

The delegation also held a meeting with representatives of the supervision bodies participating in the forum, during which many issues related to developing oversight work and prospects for cooperation and joint coordination to implement the INTOSAI standards in the oversight process were raised.

In another meeting, Barq discussed with the head of the Chamber of Accounts in the Republic of Belarus, Vasily Gerasimov, the reality of oversight work in both countries, and ways of cooperation and joint coordination to enhance the role of oversight bodies in addressing imbalances and protecting public money in Syria and the Republic of Belarus.

During its meeting with the representatives of the Court of Auditors of the Islamic Republic of Iran, the delegation was briefed on the reality of their oversight work and the experience of the Court of Auditors.

Inas Abdulkareem

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