IMF, World Bank name Audit Bureau as watchdog over loans, aid to the Kingdom | Business | Ammon News


IMF, World Bank name Audit Bureau as watchdog over loans, aid to the Kingdom


[8/19/2020 8:21:47 AM]

AMMONNEWS - President of the Audit Bureau, Asim Haddad, said the International Monetary Fund (IMF) and the World Bank have named the oversight body to independently audit loans and aid provided to the Kingdom.

In a press statement to "Petra," he said the Audit Bureau's accreditation to administer auditing operations has come after its committees have paid scheduled visits to these world lending institutions.

This step is an alternative to resorting to the private sector to carry out auditing, thus the bureau monitors and issues its reports in accordance with international standards applied in the auditing process, according to Haddad.

The international donors are working to periodically review and evaluate the bureau's work, its supervisory position and extent of its independence, Haddad pointed out.

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