Regulation Organizing the Management of Awqaf in Universities · Article 29

1.The University Awqaf Council shall appoint an external auditor for a term of one fiscal year, renewable for a maximum duration not exceeding three years.

2.The external auditor shall have access to all records, documents, request data, and clarifications that they deem necessary to perform their duties, and the relevant authorities of the university shall cooperate with them.

3.If the external auditor is not being enabled to perform their duties, he shall document this in a report submitted to the Chairman of the Waqf Audit Committee for a prompt decision in this regard. A copy of this report shall also be provided to the Chairman of the Supervision Council.

4.The external auditor shall submit a report on the accounts of the University Awqaf to the Audit Committee for the University Awqaf every three months.

5.If any embezzlement or activities endangering the funds of the University Awqaf are identified, the external auditor is obligated to promptly report such findings to the Chairman of the Awqaf Audit Committee for necessary actions. Additionally, copies of the report must be submitted to the Chairman of the University Awqaf Council and the Chairman of the Supervision Council.

6.The external auditor shall review and audit the annual final financial statement of the awqaf, including the financial position, within a maximum period of two months before the end of the fiscal year, and submit it to the Supervision Council for discussion prior to submitting it to the University Awqaf Council within a maximum period of one month. He shall also provide a report with his judgement about the financial position of the University Awqaf and their satisfaction with any clarifications or information requested from the General Secretariat.