Syrian Financial Audit Authority discusses Strategic Partnership with World Bank to Promote Transparency

The President of the Central Financial Audit Authority, Mr. Wasim Al-Mansour, discussed ways of joint cooperation with two representatives from the World Bank, Mr. Mohammad Qamh and Mr. Jad Mazahreh.

They focused focusing on developing audit practices and enhancing the authority’s independence in line with international best practices in financial governance.

During the meeting held at the Authority’s building, Al-Mansour stressed the importance of real-time oversight as an effective tool for controlling public spending and reducing violations in a timely manner, as part of an institutional approach to comprehensively modernizing oversight tools.

He also pointed out the importance of the pivotal role played by the Authority in promoting integrity and financial transparency.

Al Mansour stated, according to the Authority’s official page, that the Authority is working to reformulate the legal and regulatory framework governing its work, in a way that enshrines its institutional and technical independence, and enhances its ability to perform its duties in accordance with international standards.

He indicated that the Authority’s steps in terms of adopting digital transformation within its oversight work through the adoption of artificial intelligence tools and smart data analysis.

Al-Mansour stressed that this path contributes to raising the efficiency of oversight performance and accelerating response to violations, despite the challenges it faces in terms of technical infrastructure and the provision of specialized technical personnel.

He also noted the importance of strengthening cooperation with international institutions, most notably the World Bank, to provide the necessary technical and logistical support to accelerate the pace of digital regulatory transformation.

For their part, the World Bank representatives expressed the bank’s willingness to offer its expertise and recent supervisory experience in this field, while noting the Central Agency for Financial Supervision’s commitment to supporting steps aimed at enhancing financial transparency and accountability.

This meeting comes within a series of meetings held by the Authority with its international partners, as part of a comprehensive strategy to develop the regulatory structure and strengthen its position as an independent and effective institution serving the public interest.