The establishment of State Audit Bureau in Kuwait is aimed at ensuring that financial controls are taken into relevant controls as per existing constitutional processes. Adequate banking issues in Kuwait that control of the way banks monitor and control the way business transactions are carried out exemplify the overall performance indicators especially with an additional know how of the independency of the banking institutions. Within the constructs of the analytical platform, the envisioned SAB programs in banking legislations include among others; supporting financial institutions in Kuwait to deal with the impacts of the economic crisis. As such, the process itself involved creating comprehensive and systemic financial legislations, which could bring about ultimate change within the viewable compositions of the ministries and municipalities in Kuwait. The expressions in the subsequently developed regulatory policies as well as other monetary interventions and success stories have been projected in the aftermath of the SAB development metrics.
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The research study pattern involved a comprehensive analysis of the collection of state revenues in Kuwait. This is in accordance to Article 6 of SAB. The explanations, which have been defined by the inclusion of the causes of poor financial recovery as well as their growing level of financial instability greatly, expressed the systemic deviations that have featured failed economic factors, which have in various ways enhanced performance capacity of the country’s financial sector. The expressions of country’s debt deficits and high unemployment rate at the time of the crisis is as per the specific SAB laws been entrenched in the changing budgetary and accounting controls.
The SAB laws in article 8 indicate that administrative systems must be in various ways be expanded in order to enhance the procedure of collecting state revenues and based on given levels of depositing these revenues, the impact of the process is hence guided by the given laws. The verification process is equally established under this article and financial laws examined by regulations in orders are given appropriate adequacies including establishing rectifiable components in the administration of the laws.
The general terminologies herein therefore refer to a reflection of exercised laws and factors, which the country aims at implementing in an attempt to reimburse its financial position. However, the research indicated that policy redesigns and additional measures were required to help the country recover from the current economic challenges. SAB thereby examines the accountancy laws and in particular, enhancing the documentary application in recording and implementing financial laws as per given structural procedures enshrined in the Kuwaiti constitution.
The strategic definition of the Kuwait State Audit Bureau as well as its importance to Government Auditing organizations lies in its provision of the required protection and safeguard of public funds. This also involves the activation of the protection as stipulated in the constitution of Kuwait in article 151 that defines the establishment of legal aspects within the control of a financial commission as well as the safeguarding of its independence from legal aspects as its requires attachment to the National Assembly. This will in turn provide assistance to the government as well as the national assembly in the collection of state revenues as well as expenditure of funds within the allocation of budgets with the commission being required to submit government and national assembly annual reports entailing activity and any findings yielded from these findings.
As such in order to implement while undertaking the provisions of the constitution under the article number 30 of the law that led to the establishment of the State Audit Bureau in 1964 with the initial article within the law providing for confirmation of the independence of the State Audit Bureau. Furthermore, the second article provided an explanation of the objectives of the State Audit Bureau with a basic structure entailing the performance and control that is effective in consideration of public funding through practices and provided authoritative power as provided by the law. It as it this point that we are introduced to the importance of the Kuwait State Audit Bureau to Government Auditing organizations with is to provide control of its activities as it was initiated to undertake control practices as an outcome of the objective of legal authoritative provisions (Ogneva et al, 2007).
As such this law provided convenience of the realization of the effective control in the field of public funding with the time period as suited in the nature of finance and economic positioning within the state as well as the suited methods of control that are adhered by other countries in the realization of the effective control of their public funds. On the other hand, the practices of auditing undertaken by the Kuwait State Audit Bureau emphasize two audit formats which include pre-auditing under performance prior to engagement with the second practice being the past auditing under performance after engagement (Lopez et al, 2006). As such it has been observed that the audit reporting of the Kuwait State Audit Bureau bears objectivity with expression of opinions with regard for financial positioning and movements that provide a realistic financial positioning within the state with the reports also comprising of the evidence of proof was supportive mechanism remarks made by the Kuwait State Audit Bureau as well as commenting (Lennox,1999).
Furthermore, it provides entity compliance with subjection to control of the Kuwait State Audit Bureau within financial legal aspects and related regulations, which is a format of auditing known as regulated auditing as it has long been established that there was an increase in public expenditure. This was in addition to the role of the state that grew in all fields of social and economic aspects as it became necessitated for the confirmation of the legal financial aspects as well as regulation in addition to the confirmation of efficiency and effectiveness of government based administration in the utilization of public funds as well as in the implementation of established objectives and associated programs.
As such the outcome as reflected in pressure from the public and parliament regarding the possession of individual public accountability and managed sectors regarding public funding as well as the misappropriation of public funds more so foreign funds as stated in article number one of the 1993 law that concerns the protection of public funds as issued. In addition, the Kuwait State Audit Bureau underwent assignment with transaction follow up and related actions with investment in its amounts within the country of abroad.
Besides the changes and there are certain concerns and aspects that have led to auditing roles that were incomprehensible as well as lacking effectiveness within the State Audit Bureau. In this case, the most vital aspects include:
In this regard and with consideration of all aspects in existence led to the development of the State Audit Bureau strategy for methodical control and strategy development as a vital aspect of importance to governmental organizations within Kuwait; This strategy entailed the senior management of the State Audit Bureau to resume the objectives for the early nineties with the notion of continuity in the development and the increase in the efficient development in addition to the apprehension of senior management in the vital placement of strategies for the development of the State Audit Bureau methodical controls so as to match updated developments and scenarios.
The strategy was implemented for the period of 1995 to 2005 with several policies and audit related activities being undertaken. Furthermore, the strategy operated on the basis of the grouped policies in relation to activated control, development of human resources as well as increase in the present efficiency of the administration with further revealed an operational basis revolving around the three vital defined groups in accordance with capabilities for the creation of needed changes to the organization.
All of these aspects being in relation to the activities of the State Audit Bureau as well as its performance with the strategy also comprising of a well specified objectives to be attained as well as the methodical approaches to reach these objectives. In addition several processes where placed by the State Audit Bureau in activation of its activities related to auditing with some of these processes undergoing enforcement while others underwent studied review by authorities that were concerned.
Strategic management in the operational definition entails the analysis of vital initiatives that are undertaken by the top management of an organization in representation of the owners comprising of resources and development that exists internally and externally within defined environments. In a theoretical perspective management and its associated practices creates a common distinction between management that is operation and the strategic facet with the operational aspect entailing the major responses to issues that are internal for instance efficient improvement and control of costs. On the other hand the strategic aspect concerns mainly the response to external factors for instance perceiving the needs of the customers as well as the response to factors of competition (Arndt 2011:325).
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Strategic management in important to an organization as it entails the provision of the general enterprise direction in close relation to the organizational study field which in summarization deals with the specification of the objectives of the organization, policy development and design of plans for attainment of defined objectives followed by resource allocation and plan implementation. Strategic management allows organization to address the difficulties in the entire comprehension and response of the complicated issues faced within an organization that have led to proliferation of models based on strategic management and associated frameworks as stated by (Fiegen 2011: 248). In this case, specific models attempt to provide an organization of varied issues so as to arrange them in a more understandable format with the one of the common and widely applied frameworks being the SWOT analysis which provides an examination of the internal organizational elements as strengths and weaknesses while the external aspects exist as the opportunities and threats.
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