FAAS Annual Meeting 2018
The Royal Audit Authority organized the Annual Meeting of the Financial Audit and Accounting Subcommittee (FAAS) of International Organisation for Supreme Audit Institutions (INTOSAI) for 2018. The meeting was attended by 23 delegates from thirteen member countries of the FAAS, including representatives from the International Auditing and Assurance Standards Board (IAASB); the International Public Sector Accounting Standards Board (IPSASB); and two officers representing the RAA as observers of FAAS.
The meeting was graced by His Excellency Dr. Harib Saeed Alameemi, the President of the State Audit Institution of United Arab Emirates who is the Chairperson of the FAAS as well as the Chairperson of the INTOSAI. The Hon’ble Auditor General of Bhutan also graced the meeting and welcomed the participants to Bhutan. During the meeting the Committee discussed on improving the quality of ISSAI financial audits and its scope in bringing more clarity besides discussing key accounting challenges and opportunities.
FAAS is one of subcommittees under INTOSAI Professional Standards Committee (PSC) focused on the achievement of developing high-quality and widely recognized international professional standards for public-sector auditing. FAAS develops globally accepted auditing guidelines for the public sector. This is done by leveraging the expertise and resources of the IAASB, an internationally respected assurance standards setting organization.
The three-day Annual Meeting was held from 27-29th March, 2018 at the Tenzinling Resort in Paro.