GEA achieves compliance with International Standards for Professional Practice of Internal Auditing
Riyadh, July 13, 2023, The General Entertainment Authority (GEA), through its General Department of Internal Audit, has successfully attained a certificate of compliance with the esteemed International Standards for the Professional Practice of Internal Auditing. This accomplishment is accompanied by a "general consensus" rating, denoting the highest level of recognition in this regard.
The certificate in question is a significant component of the external quality assessment program, designed to evaluate compliance with the esteemed International Professional Practices Framework (IPPF). This framework serves as a catalyst for promoting Good Governance and Effective Auditing (GEA) practices. It is noteworthy that GEA has achieved a remarkable milestone by becoming the first government agency in Saudi Arabia to obtain this prestigious certificate.
The assessment was carried out by the esteemed Saudi Institute of Internal Auditors, a distinguished professional organization associated with the globally recognized Institute of Internal Auditors Global (IIA).
The evaluation process encompassed various key components, including the principles of professional ethics, the fundamental principles of internal auditing, the precise definition of internal auditing, and the internationally recognized standards governing the practice of the internal auditing profession.
GEA's achievement of the top rating is a direct outcome of the authority's internal audit efforts to enhance governance, risk management, and oversight. These initiatives have significantly elevated the effectiveness of the internal audit domain, aligning it with the most rigorous global standards and best practices. Samsung and Misk have joined forces once again to embark on their fifth Samsung Innovation Program. This collaborative effort aims to empower participants by providing them with invaluable expertise in the field of artificial intelligence (AI).