Tag: Albania

During Sharm El-Sheikh INCOSAI XXV, the General Court of Audit (GCA) of the Kingdom of Saudi Arabia organized a side event titled “FISP Meet & Greet”, bringing together beneficiaries of the Saudi Fund for Improved SAI Performance (FISP). The Saudi FISP is a funding initiative established by the GCA under the leadership of its President, H.E. Dr. Hussam Alangari. Since 2020, the GCA has allocated 1 million U.S. dollars annually to support the needs of Supreme Audit Institutions (SAIs) in developing countries, helping INTOSAI respond to the increasing demand for direct capacity-building assistance. By 2026, the fund had reached a total value of 7 million U.S. dollars, with continued growth anticipated.

As the independence of SAIs is the cornerstone of their ability to safeguard public resources, promote transparency, and strengthen trust in government, it is widely accepted in the international audit sphere that without institutional, financial and operational autonomy, audit findings and recommendations risk being influenced, underestimated, or ignored, undermining accountability. As such, through frameworks as the Lima and Mexico Declarations, it has been consistently affirmed that independent SAIs are essential pillars of democratic governance. Yet, independence is not a fixed state as it requires protection and adaption to dynamic realities.

Public finances are like the lifeblood of a country – they fund social programs, build infrastructure, and provide essential services that people rely on every day. Keeping public administration efficient and transparent is key to earning people’s trust – it’s about more than just good governance; it’s about showing citizens that their institutions truly work for them. Financial audits are the main instrument used by Albania’s Supreme Audit Institution (ALSAI) to guarantee efficiency, accountability, and transparency in the administration of public funds.

Albania is in a favorable geographic position to serve as a trade hub, tourist destination, and provider of financial and other services. The enhanced use of technology in manufacturing, infrastructure, and communications could give the country a competitive advantage in these fields.