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SAI and FINTEQ sign deal

MUSCAT — Oman's State Audit Institution (SAI) has signed a deal with an Indian company to develop a software application for an audit planning and scheduling system for the country.

The agreement, to design and develop software application for Audit Planning and Scheduling System (APSS), was signed here on Sunday by Sayyid Abdullah bin Hamad Al Busaidi, the SAI President, with Subhankar Patra, Director of FINTEQ Enterprises Private Ltd.

The application, in addition to optimising the audit planning process based on audit risks and organisational and resources constraints, will optimise the skill matrix of audit teams and make the best use of their experiences and professional skills, a spokesman for SAI explained.

"The project will help SAI maximise the coverage of audit in the long and medium term. It is also expected to provide flexibility to audit planning by enabling rescheduling of audit programmes and the audit teams, and enable monitoring progress of implementation of audit plan according to organisational standards and best practices," he added.

The spokesman said the signing of the agreement was part of the process initiated by SAI, to introduce modern technology in the area of auditing and to keep abreast with the rapid developments in the Sultanate in the field of planning and modernisation.

The project will be implemented by SAI as part of the Seventh Five-Year Plan.