The President of the Audit Bureau, Khaled Shakshak, and the Undersecretary of the Bureau, Ala Al-Masallati, discussed with the President of the Libyan Investment Authority, Ali Mahmoud, in a meeting today, Thursday, contracting mechanisms to audit some of the corporation’s subsidiaries abroad by assigning an international audit office.
The meeting was devoted to discussing the steps taken by the State Audit Bureau related to contractual procedures with the International Audit Office and the auditing work of those companies within a legal framework that guarantees independence and transparency in order to find out and evaluate the financial conditions of companies in order to make the necessary decisions to achieve financial returns for the Libyan state.
The two sides agreed to form a joint working group to finalize the contracting, assignment and supervision mechanisms with the External Audit Office in the final form required in accordance with the roles and specializations entrusted to the Bureau and the Authority.