Finance Minister Mohammed Al-Jadaan said that the financial oversight law reflects a fundamental shift in the oversight methodology.
In remarks delivered during the Financial Oversight Forum, the minister sees that it is an upgrade to the legislative framework governing financial operations in government entities, through a more flexible and comprehensive model that focuses on empowerment and the protection of public funds.
The new law contributes to enhancing technical oversight and leveraging government financial systems and data, which supports continuous monitoring and helps enable the early detection of risks and their efficient mitigation.
Saudi Arabia is witnessing qualitative progress in achieving Vision 2030 objectives, as the public fund management and oversight represent a core pillar for enhancing the efficiency and sustainability of government performance.
Al-Jadaan stated that the General Court of Audit plays a vital and central role, exerting professional efforts to develop oversight practices and raise the level of financial discipline, thereby contributing to the integration of supervisory roles and the achievement of efficient public spending.
According to data available on Argaam, the Council of Ministers, chaired by Crown Prince Mohammed bin Salman, Prime Minister, approved the financial oversight law last November.
The Official Gazette recently published the details of the Financial Oversight Law, defining financial oversight as the policies, procedures, and tools applied by the ministry to entities through the oversight methods stipulated in the law, without encroaching on the mandates of other supervisory bodies.
Finance Minister Mohammed Al-Jadaan said that the financial oversight law reflects a fundamental shift in the oversight methodology.
In remarks delivered during the Financial Oversight Forum, the minister sees that it is an upgrade to the legislative framework governing financial operations in government entities, through a more flexible and comprehensive model that focuses on empowerment and the protection of public funds.
The new law contributes to enhancing technical oversight and leveraging government financial systems and data, which supports continuous monitoring and helps enable the early detection of risks and their efficient mitigation.
Saudi Arabia is witnessing qualitative progress in achieving Vision 2030 objectives, as the public fund management and oversight represent a core pillar for enhancing the efficiency and sustainability of government performance.
Al-Jadaan stated that the General Court of Audit plays a vital and central role, exerting professional efforts to develop oversight practices and raise the level of financial discipline, thereby contributing to the integration of supervisory roles and the achievement of efficient public spending.
According to data available on Argaam, the Council of Ministers, chaired by Crown Prince Mohammed bin Salman, Prime Minister, approved the financial oversight law last November.
The Official Gazette recently published the details of the Financial Oversight Law, defining financial oversight as the policies, procedures, and tools applied by the ministry to entities through the oversight methods stipulated in the law, without encroaching on the mandates of other supervisory bodies.
