State Audit: Governance is the bedrock of Oman’s renewal

SALALAH, SEPT 11

Financial and administrative systems are now in place to monitor compliance with sound governance across government units, state-owned enterprises and publicly listed companies, ensuring proper documentation and addressing gaps as they arise. The aim is to improve institutional performance and raise efficiency in a way that translates the ambitions of Oman Vision 2040, according to a key official of the State Financial and Administrative Audit Institution (SFAAI).

Nasser bin Mohammed al Hosani, Adviser at the Office of the President of the SFAAI, made the comments against the backdrop of a symposium on “Governance and its Role in Enhancing Transparency and Protecting Public Funds” held in Salalah recently. The symposium comes five years into the rollout of Oman Vision 2040 and serves to consolidate the tools adopted to entrench a culture of governance, he noted.

Speaking to the Observer, al Hosani stressed that governance represents the solid foundation from which economic and social pathways advance. With the launch of the renewed renaissance under His Majesty Sultan Haitham bin Tarik, the government reorganised state-owned companies by consolidating ownership under the Oman Investment Authority and issuing unified governance frameworks for major companies, helping to align concepts and strengthen institutional coherence with Vision 2040’s strategic goals, he said.

Significantly, al Hosani stressed that no entity should both design, implement and evaluate its own decisions. “Decision-making must operate within clear checks and balances that prevent breaches, safeguard public funds, protect public assets and facilities, and ensure continuous improvement and service sustainability,” he said.

He noted that the State Financial and Administrative Audit Institution’s role rests on the principles of transparency, independence and accountability in reviewing the financial and administrative performance of entities under its remit, thereby advancing prudent governance and more effective public spending in line with Vision 2040.

al Hosani concluded that embedding a culture of governance and completing its supporting tools will remain a priority in the coming period “to guarantee sustainable growth and enhance the quality of public services.”