Egypt's auditing organization plays pivotal role in monitoring public funds

President Abdel Fattah El Sisi lauded on Monday the role played by Egypt's Central Auditing Organization (CAO) in monitoring public funds.

Speaking at the Diamond Jubilee of the CAO, Sisi said the organization also plays an important role in improving the performance of the State's executive bodies and ensuring good management of revenues and spending.

He wished more success to the national institution in their efforts to push forward Egypt.

A host of Egypt's statesmen attended the ceremony marking the 75th anniversary of the organization's establishment. 

A documentary featuring the history of the Central Auditing Organization was screened during the ceremony.

According to the film, the CAO was originally created as the Divan of Accounting in 1942 as an instrument of public finance control.

Its name was changed to Divan of Auditing in 1960, before acquiring its current designation in 1964. 

Following the documentary, CAO chairman Hisham Badawi addressed the gathering and welcomed President Sisi in the Diamond Jubilee of the organization.

He said the CAO is considered one of the oldest regulatory and public finance control bodies at international and regional levels.

Also, UAE's State Audit Institution President Harib el Amimi spoke in the ceremony and lauded the effective role of Egypt's auditing organization over the years and its contribution to developing government performance, ensuring transparency and fighting corruption.

Source: MENA