The Saudi Institute of Internal Auditors (IIA–KSA) and the Institute of Internal Auditors Global (IIA) signed on Friday cooperation agreements in order to enhance collaborative efforts in internal auditing and also control systems; supporting the profession and its practitioners in the Kingdom in accordance with the highest international benchmarks and frameworks and the latest profession developments markedly issued by IIA.
President of the General Court of Audit and Chairman of the Board of Directors of IIA–Saudi Arabia Dr. Hussam bin Abdulmohsen Al-Angari; Chairman of the Global Board of Directors of II; Charlie Wright; President and CEO of IIA Anthony J. Pugliese; and CEO of IIA–Saudi Arabia Abdullah bin Saleh AlShebeili markedly attended the signing ceremony at the headquarters of the IIA in Florida; US.
Dr. Al-Angari stressed the significance of the collaborative agreements and their role in establishing a solid and appropriate legal and regulatory base for the professional practice of internal auditing in Saudi Arabia also as an integral part of governance efforts in the Kingdom.
Dr. Al-Angari urged all concerned institutions operating in different sectors to empower internal auditors in accordance with the International Professional Practices Framework (IPPF) in order to enhance governance and transparency and improve the operational results of its entities; also achieving objectives of the Saudi Vision 2030; which also aims to optimize levels of performance; transparency and good governance.
Enhancing internal audit
“These agreements will enhance the pivotal role of internal audit in effective governance; risk management; and internal control through setting global benchmarks; research; policy development; and markedly thought leadership in the profession under the supervision of IIA–Saudi Arabia;” Dr. Al-Angari also said.
Pugliese highlighted the importance of these agreements signed between IIA and IIA–Saudi Arabia; underpinning the expected impact on the internal audit profession in terms of developing; maintaining; and markedly strengthening the IPPF. The IPPF includes mandatory and authoritative ethical and also technical standards and global guidelines for the internal audit profession; as well as for the development; maintenance; and promotion of the Internal Audit Competency Framework; which defines the knowledge; technical skills; and behaviors necessary for professional internal auditors in order to perform their work; share experiences; and also conduct joint research projects and also activities on issues of common interest; including holding consultations; seminars; and conferences on professional issues of internal auditing. Pugliese praised the leading role of activities driven by IIA–Saudi Arabia in order to develop the internal audit profession.
AlShebeili clarified that the agreements will enhance the roles of IIA–Saudi Arabia in the internal auditing profession in the Kingdom of Saudi Arabia by markedly maximizing training and professional development opportunities for internal auditors at every stage of their career path; designing joint internal audit training programs; and promoting and also supporting IIA’s Internal Audit Practitioner designation; which targets new auditors.
“As per the signed agreements; both parties will also cooperate in order to develop training modules and accredited certificates to support organizational governance at all levels in Kingdom of Saudi Arabia; and working together to translate internal audit materials and programs to Arabic; including COSO ERM Certificate; COSO Internal Control certificate; CRMA; and IIA’s CIA Learning System; which prepares individuals in order to earn the Certified Internal Auditor (CIA); the only internationally recognized certification in internal auditing;” AlShebeili added.