Introduction
Iraq-Jordan External Auditors’ Capacity Building Workshop. The World Bank launched a regional auditor's capacity strengthening program on June 18-19, 2007. The seminar aimed to : (i) increase efficiency in the selection of independent auditors; and (ii) improve quality of the audit reports. The targeted audience included auditors involved in Bank-financed operations in Jordan and Iraq as well as potential auditors. The workshop was financed by the Bank's own budget.
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Independent External Auditors Workshop
World Bank Audit Policies and Practices
Amman-Jordan, June 18, 2007
AGENDA
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Workshop Objectives
The workshop objectives were to (i) give the auditors an overview of the Bank’s mission and the foundations of fiduciary requirements; (ii) highlight the financial management requirements and the audit policies and practices; (iii) share the “audit toolkit” designed to provide guidance on how to conduct audits using detailed terms of reference, summary of applicable international standards, sample of audit reports, the methodology of the Statement of Expenditures review, FMR review, and some related Bank guidelines; and (iv) have the Bank’s guidelines on the selection of projects’ auditors explained by the Bank procurement experts. The workshop expected outcomes are: (i) increased efficiency in the selection of auditors, and (ii) improved quality of the audit reports with positive impact on compliance.
Participants
In coordination with both the Iraqi Ministry of Planning and Development Coordination, the Jordanian Ministry of Planning and International Cooperation, and both the Iraqi and Jordanian portfolios teams, 23 auditors representing about 11 audit firms, based in Baghdad, Erbil, Amman, and Cairo, participated in this event, in addition to two representatives of the Iraq Trust Fund's Fiduciary Monitoring Agent. The participants were either involved in Bank-financed and administered operations in Jordan and Iraq or were potential audit firms (those who expressed interest but were not selected).
Speakers
Samia Msadek, Mona El-Chami, Diana Masri, Lina Fares and Anas Bou Mikias.
Evaluation and Results
Participants expressed their satisfaction and gratitude to the Bank. They also expressed their interest in future capacity building activities, with a focus on projects’ audit challenges and international accounting and auditing standards.
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