Minister of Finance: The "TSA" system will contribute to improving the quality of banks' financial statements
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Economy News - Baghdad
Finance Minister Taif Sami confirmed, on Sunday, that the TSA system will contribute to improving the quality of banks' financial statements, while pointing to a package of measures and procedures to control the movement of financial accounts.
The Ministry of Finance said in a statement, "Minister Taif Sami chaired, today, the consultative meeting regarding the requirements for designing and implementing the TSA unified treasury account system, in the presence of the general managers of the Rafidain and Rasheed banks, the real estate, industrial and agricultural, Al-Nahrain Islamic Bank, the Iraqi Trade Bank, the general manager of the accounting department and representatives of the banks above." And the representative of the Office of Financial Supervision and the ministerial team concerned with the project.
During the meeting, the Minister of Finance stressed the importance of doubling the work efforts of the subcommittees by obliging all spending units within ministries and institutions to allocate allocations for them and not to exceed their account ceilings, to reduce cases of out-of-control spending, in addition to doubling oversight and audit efforts around them.
She referred to "a package of measures and procedures that the ministry is working on to control the movement of financial accounts to include various sectors and to determine the accuracy of the financial data, in addition to moving towards updating the financing accounts towards the investment account and the current operational account."
And she emphasized, "The system will contribute to improving the quality of banks' financial statements within the framework of applying international standards in auditing, control, transparency and risk management."
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Added 06/04/2023 - 9:32 PM
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Economy News - Baghdad
Finance Minister Taif Sami confirmed, on Sunday, that the TSA system will contribute to improving the quality of banks' financial statements, while pointing to a package of measures and procedures to control the movement of financial accounts.
The Ministry of Finance said in a statement, "Minister Taif Sami chaired, today, the consultative meeting regarding the requirements for designing and implementing the TSA unified treasury account system, in the presence of the general managers of the Rafidain and Rasheed banks, the real estate, industrial and agricultural, Al-Nahrain Islamic Bank, the Iraqi Trade Bank, the general manager of the accounting department and representatives of the banks above." And the representative of the Office of Financial Supervision and the ministerial team concerned with the project.
During the meeting, the Minister of Finance stressed the importance of doubling the work efforts of the subcommittees by obliging all spending units within ministries and institutions to allocate allocations for them and not to exceed their account ceilings, to reduce cases of out-of-control spending, in addition to doubling oversight and audit efforts around them.
She referred to "a package of measures and procedures that the ministry is working on to control the movement of financial accounts to include various sectors and to determine the accuracy of the financial data, in addition to moving towards updating the financing accounts towards the investment account and the current operational account."
And she emphasized, "The system will contribute to improving the quality of banks' financial statements within the framework of applying international standards in auditing, control, transparency and risk management."
Views 412
Added 06/04/2023 - 9:32 PM
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