The Head of the Audit Bureau, Khalid Shakshak, signed a contract with the British International Auditing Company (BDO) to enhance cooperation in forensic auditing and accounting.

The Audit Bureau explained that the contract signed at the company’s headquarters in London came within the Bureau’s endeavor to adopt a strategy to contract major audit offices to follow up on and evaluate Libyan investments and assets abroad, push toward improving their performance, and take the necessary measures to protect them from losses. 

According to the statement, BDO is one of the five largest accounting companies in the world, specializing in the field of auditing and consulting, present in 164 countries, and has more than 1,800 offices across the US, Europe, Asia and the Middle East.

The statement indicated that the Audit Bureau created within its structure an office concerned with reviewing financial statements through communication with local and international audit offices, which is the first experience of its kind in the history of the Bureau. 

"The office aims to develop oversight work and improve the quality of reports, in addition to training the Bureau’s members on auditing and developing the accounting profession by motivating local accounting and auditing offices." It added. 

The Audit Bureau said that, as part of its follow-up on Libyan investments abroad, it concluded the first contract with the international auditing firm RSM in late 2022 in London, to review and evaluate Libyan investments abroad, and to train members of the Bureau in the field of investment portfolios.