Saudi Institute of Internal Auditors Shines at 2024 IIA Conference

The 2024 International Conference of the Institute of Internal Auditors (IIA) was inaugurated in Washington, D.C., on July 15, 2024, with a high-level Saudi delegation led by Dr. Hussam bin Abdulmohsen Al-Anqari, President of the Saudi General Court of Audit (GCA) and Chairman of the Board of Directors of the Saudi Institute of Internal Auditors. The Saudi Institute of Internal Auditors is participating as the conference’s Diamond Sponsor, underscoring the Kingdom’s growing influence in the global internal auditing profession.

Context and Background

The IIA International Conference is the premier annual gathering for internal audit professionals worldwide, bringing together thought leaders, practitioners, and policymakers to discuss emerging trends, challenges, and innovations. This year’s event in Washington, D.C., has attracted 2,300 internal auditors from various countries and features 55 speakers addressing seven main topics critical to the profession’s future.

The Saudi Institute of Internal Auditors, a key player in the region’s auditing landscape, has sent a delegation of 100 internal audit leaders and service providers. Their participation reflects Saudi Arabia’s commitment to advancing the profession in line with international best practices and the goals of Saudi Vision 2030, which emphasizes transparency, accountability, and good governance.

Key Details

As Diamond Sponsor, the Saudi Institute of Internal Auditors has a prominent presence at the conference. Five nominated speakers from the institute are actively participating in sessions, discussing a range of topics including the 2035 vision for the profession, the consultant’s role in internal auditing, integrated assurance across lines of defense, and audit considerations in construction projects. These discussions highlight Saudi Arabia’s leading and pioneering role in internal auditing regionally and internationally.

Dr. Al-Anqari emphasized the Kingdom’s pioneering status in all fields, particularly in internal auditing. He noted that the profession is evolving rapidly, especially with the integration of artificial intelligence (AI). “The Kingdom of Saudi Arabia, represented by the Saudi Institute of Internal Auditors, aims to be at the forefront of developing the profession,” he stated. “This emphasizes its pioneering and leading role in the oversight system, which has become essential for all entities and institutions. The goal is to achieve professional and technical development in internal auditing and its clear impact on improving performance and efficiency within government, private, and third-sector entities.”

Dr. Al-Anqari also highlighted ongoing preparations for new global standards and the importance of readiness for future challenges. The conference sessions cover critical areas such as AI, cybersecurity, fraud and crime, sustainability, international internal auditing standards, governance, leadership, relationships with the board of directors, as well as human and social capital.

Implications and Impact

Saudi Arabia’s strong showing at the IIA conference signals its growing influence in shaping global auditing standards and practices. By sharing its expertise and vision, the Kingdom contributes to the international dialogue on key issues such as AI adoption, cybersecurity, and sustainability—areas that are increasingly vital for effective governance and risk management. This participation also reinforces Saudi Arabia’s commitment to transparency and accountability, which are essential for attracting foreign investment and fostering economic growth.

Furthermore, the involvement of Saudi internal audit leaders in discussions on the 2035 vision for the profession demonstrates the Kingdom’s forward-looking approach. By aligning with global trends and standards, Saudi Arabia positions itself as a model for other nations in the region and beyond, enhancing its reputation as a leader in professional development and oversight.

Vision 2030 Alignment

The participation of the Saudi Institute of Internal Auditors in the 2024 IIA International Conference directly supports the objectives of Saudi Vision 2030, which seeks to build a transparent, accountable, and efficient public and private sector. By promoting best practices in internal auditing, the Kingdom enhances governance and performance across all sectors, contributing to sustainable economic development. As Dr. Al-Anqari noted, the aim is to achieve professional and technical development that improves performance and efficiency within government, private, and third-sector entities. This aligns with Vision 2030’s overarching goal of diversifying the economy, strengthening institutions, and creating a vibrant society. Through its active engagement in international forums, Saudi Arabia continues to demonstrate its leadership and commitment to global cooperation in advancing the auditing profession.

20 Questions

Q1. What is the 2024 International Conference of the Institute of Internal Auditors?

A1. The 2024 International Conference of the Institute of Internal Auditors (IIA) is a premier global event for internal audit professionals, held in Washington, D.C., from July 15, 2024, featuring 2,300 participants and 55 speakers discussing key topics like AI, cybersecurity, and sustainability.

Q2. Who led the Saudi delegation to the conference?

A2. The Saudi delegation was led by Dr. Hussam bin Abdulmohsen Al-Anqari, President of the Saudi General Court of Audit (GCA) and Chairman of the Board of Directors of the Saudi Institute of Internal Auditors.

Q3. How many members were in the Saudi delegation?

A3. The Saudi delegation comprised 100 internal audit leaders and service providers, demonstrating the Kingdom’s strong engagement in the global auditing community.

Q4. What role did the Saudi Institute of Internal Auditors play at the conference?

A4. The Saudi Institute of Internal Auditors participated as the conference’s Diamond Sponsor, highlighting its leadership and commitment to advancing the profession internationally.

Q5. How many speakers from the Saudi Institute participated?

A5. Five nominated speakers from the Saudi Institute of Internal Auditors took part in conference sessions, sharing insights on various topics.

Q6. What topics did the Saudi speakers discuss?

A6. They discussed the 2035 vision for the profession, the consultant’s role in internal auditing, integrated assurance across lines of defense, and audit considerations in construction projects.

Q7. What did Dr. Al-Anqari emphasize about the Kingdom?

A7. Dr. Al-Anqari emphasized that the Kingdom is a pioneer in all fields, especially internal auditing, and is committed to professional development that keeps pace with technological advances like artificial intelligence.

Q8. How does Saudi Arabia aim to lead in internal auditing?

A8. Saudi Arabia, through the Saudi Institute of Internal Auditors, aims to be at the forefront of developing the profession, emphasizing its pioneering role in the oversight system to improve performance and efficiency across all sectors.

Q9. What are the main topics at the conference?

A9. The conference covers seven main topics: artificial intelligence, cybersecurity, fraud and crime, sustainability, international internal auditing standards, governance, leadership, relationships with the board of directors, and human and social capital.

Q10. How many countries are represented at the conference?

A10. The conference hosts 2,300 internal auditors from various countries worldwide, making it a truly global event.

Q11. What is the significance of Saudi Arabia’s participation?

A11. Saudi Arabia’s participation underscores its growing influence in shaping global auditing standards and its commitment to transparency, accountability, and Vision 2030 goals.

Q12. How does this participation align with Vision 2030?

A12. It supports Vision 2030 by promoting best practices in internal auditing, enhancing governance and performance, and contributing to sustainable economic development and institutional strengthening.

Q13. What did Dr. Al-Anqari say about new global standards?

A13. He highlighted ongoing preparations for new global standards and the importance of readiness for future challenges and updates in the profession.

Q14. What is the 2035 vision for the profession?

A14. The 2035 vision outlines a forward-looking roadmap for internal auditing, focusing on technological integration, enhanced governance, and professional development to meet future demands.

Q15. How does artificial intelligence impact internal auditing?

A15. Artificial intelligence enhances internal auditing by improving efficiency, risk assessment, and data analysis, enabling auditors to provide deeper insights and better assurance.

Q16. What is the role of the consultant in internal auditing?

A16. Consultants in internal auditing provide expert advice, enhance processes, and help organizations achieve strategic objectives while maintaining independence and objectivity.

Q17. What is integrated assurance across lines of defense?

A17. Integrated assurance across lines of defense is a framework that coordinates risk management and control activities across different organizational layers to ensure comprehensive coverage and efficiency.

Q18. Why are audit considerations important in construction projects?

A18. Audit considerations in construction projects ensure compliance, cost control, and quality, mitigating risks associated with large-scale infrastructure developments.

Q19. How does the conference foster international cooperation?

A19. The conference facilitates knowledge exchange and networking among global audit professionals, promoting shared standards and collaborative solutions to common challenges.

Q20. What is the expected outcome of Saudi Arabia’s participation?

A20. Saudi Arabia’s participation is expected to strengthen its leadership in the profession, enhance its global reputation, and contribute to the advancement of internal auditing standards worldwide.

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