The Ministry of Finance announced on Apr. 6 the launch of the Self-Oversight Program, an initiative designed to help government entities adopt new oversight models that support financial sustainability and improve public financial management. The program is part of the Financial Oversight Development Initiative and aligns with the goals set by Saudi Vision 2030.
According to the ministry, this effort aims to empower government agencies by providing them with modern tools and practices for internal control and audit, as well as governance, risk management, and compliance. These steps are intended to strengthen financial regulations across government sectors.
The Self-Oversight Program features two specialized training tracks. The first track centers on internal control and audit, focusing on reinforcing internal control concepts, improving IT controls, and supporting auditing standards within agencies. The second track addresses governance issues by developing skills in enterprise risk management, enhancing governance frameworks, and boosting compliance assessment effectiveness among government bodies.
Officials say this initiative builds upon ongoing efforts by the Ministry of Finance to advance its financial oversight system. By moving toward a self-oversight model that leverages technological advancements, the ministry seeks to increase efficiency in oversight processes while encouraging government entities themselves to play a greater role in managing risks and adhering to regulations.
This program is positioned as part of broader reforms aimed at strengthening public sector accountability under Saudi Vision 2030.
