Kuwait moves to align government financial oversight with global standards
- Exposure to international expertise would support the continued development of Kuwait’s government financial control system and improve the efficiency of public finance management — Nada Al-Sahli
Kuwait is looking to strengthen government financial oversight and public finance management by drawing on international practices in accounting, reporting, sustainability and governance, Acting Head of the Financial Controllers Authority Nada Al-Sahli said.
Speaking to KUNA on Friday at the conclusion of the 43rd session of the Intergovernmental Working Group of Experts on International Accounting and Reporting Standards, Al-Sahli said exposure to international expertise would support the continued development of Kuwait’s government financial control system and improve the efficiency of public finance management.
The session, held at the United Nations headquarters in Geneva from September 30, focused on strengthening accounting and reporting infrastructure, building institutional and human capacity to implement internationally recognized sustainability reporting requirements, and addressing the role of human capital in sustainability reporting.
Participants also reviewed progress on technical cooperation projects and the implementation of accounting development tools in member states. Al-Sahli said Kuwait’s participation provided an opportunity to exchange expertise with representatives of governments, international organizations, professional bodies and specialists, while examining international practices that could be adapted to strengthen government oversight and financial operations within Kuwait’s legislative and regulatory framework.
She stressed the importance of continued cooperation with the United Nations Conference on Trade and Development (UNCTAD) and related international bodies, particularly in accounting, oversight, reporting and sustainability. Such cooperation, she said, could help strengthen the professional and oversight capabilities of Kuwait’s national workforce.
Al-Sahli also highlighted the Authority’s focus on preventive governance as a means of promoting integrity, transparency and efficiency in government financial management, while supporting long-term institutional sustainability. Speaking during a session on building organizational, institutional and human capacities to implement globally recognized sustainability reporting requirements, she outlined the Authority’s approach to strengthening governance and financial oversight.
The Authority also plans to maintain its participation in international discussions and initiatives, providing opportunities to exchange experience, showcase Kuwait’s approach to government financial oversight and draw on international practices while taking account of the country’s existing laws and regulations.
The Kuwaiti delegation included Financial Control Department Director Fouad Al-Tabtabai, Financial Controllers Office Director Ali Al-Shammari and Assistant Financial Controller Dina Al-Subaih. The 43rd session concluded with the adoption of its report and discussions on the provisional agenda for the next session.
