Saudi Institute of Internal Auditors Aims for Global Leadership

The Saudi Institute of Internal Auditors (IIA Saudi Arabia) has announced its ambition to achieve global leadership in the internal auditing profession, a goal driven by the Kingdom’s Vision 2030 and supported by its strong national leadership and international standing. This declaration was made by the Institute’s CEO, Abdullah Al-Shebeili, during the closing of the 10th Internal Audit Conference, held on September 11-12, 2024, in Riyadh.

Context and Background

The conference, a premier annual forum for internal auditing in the Kingdom, gathered professionals, officials, and media from both Saudi Arabia and abroad. The event focused on the future of the profession, emphasizing the effective use of technology, the potential of artificial intelligence, and the critical areas of governance, risk management, and compliance (GRC). Al-Shebeili praised the impressive achievements of young Saudi talent in the field, highlighting the conference’s role in fostering innovation and addressing professional challenges.

Key Details and New Initiatives

The Saudi Institute of Internal Auditors introduced three key initiatives at the conference: “From Riyadh to the World,” the “Internal Audit Award,” and a specialized “Governance, Risk and Compliance (GRC)” program. The “From Riyadh to the World” initiative aims to export Saudi internal auditing expertise globally by sharing best practices and learning from international experiences. As part of this, the Institute will embark on a world tour, visiting countries including China, the United States, Canada, Switzerland, Russia, Australia, and Austria. The Internal Audit Award is designed to foster professional competition and development among auditors. The GRC program, developed in partnership with the University of Cambridge, offers a comprehensive online and in-person training experience to equip professionals with the tools needed to integrate GRC practices into their organizations.

Implications and Impact

These developments position Saudi Arabia as an emerging hub for professional excellence in auditing and corporate governance. By taking its expertise global, the Institute aims to raise international standards while attracting knowledge and best practices back to the Kingdom. This outward-looking approach strengthens Saudi Arabia’s role in the global professional services landscape and supports the diversification of its knowledge economy.

20 Questions

Q1. What is the main ambition of the Saudi Institute of Internal Auditors?

A1. The Institute aims to achieve global leadership in the internal auditing profession, driven by Saudi Arabia’s Vision 2030 and supported by the Kingdom’s strong leadership and international standing.

Q2. Who is the CEO of the Saudi Institute of Internal Auditors?

A2. The CEO of the Saudi Institute of Internal Auditors is Abdullah Al-Shebeili. He announced the Institute’s global ambitions at the closing of the 10th Internal Audit Conference.

Q3. When and where was the 10th Internal Audit Conference held?

A3. The conference was held on September 11-12, 2024, in Riyadh, Saudi Arabia. It served as a major forum for internal auditing professionals.

Q4. What were the main themes of the conference?

A4. The conference focused on the future of internal auditing, effective use of technology, the potential of artificial intelligence, and best practices in governance, risk management, and compliance (GRC).

Q5. How many new initiatives were introduced at the conference?

A5. The Saudi Institute of Internal Auditors introduced three new initiatives at its conference in Riyadh.

Q6. What is the “From Riyadh to the World” initiative?

A6. This initiative aims to export Saudi internal auditing expertise globally, share best practices, and learn from international experiences through a world tour.

Q7. Which countries will the Institute visit as part of its world tour?

A7. The Institute will visit China, the United States, Canada, Switzerland, Russia, Australia, and Austria to share expertise and learn from global partners.

Q8. What is the purpose of the “Internal Audit Award”?

A8. The Internal Audit Award is designed to foster professional competition and development among internal auditors, encouraging excellence in the field.

Q9. What is the “Governance, Risk and Compliance (GRC)” program?

A9. The GRC program offers comprehensive online and in-person training to equip professionals with the knowledge and tools needed to integrate GRC practices into their organizations.

Q10. Which university partnered with the Institute to develop the GRC program?

A10. The GRC program was developed in partnership with the University of Cambridge, a world-renowned educational institution.

Q11. How does the conference contribute to Vision 2030?

A11. The conference fosters innovation, develops local talent, and promotes Saudi expertise globally, directly supporting Vision 2030’s goals of economic diversification and a knowledge-based economy.

Q12. Who did Abdullah Al-Shebeili praise during the conference?

A12. Al-Shebeili praised the young Saudi talent and their impressive achievements in the field of internal auditing.

Q13. What was the role of the conference in professional development?

A13. The conference served as a platform for reviewing best practices, discussing international developments, and gaining insights from global experts in internal auditing.

Q14. Is the conference an annual event?

A14. Yes, the Internal Audit Conference is described as the most prominent annual forum for internal auditing in Saudi Arabia.

Q15. What is the strategic significance of the “From Riyadh to the World” initiative?

A15. It positions Saudi Arabia as a global hub for auditing knowledge, facilitating two-way exchange of expertise and raising international standards.

Q16. How does the GRC program benefit professionals?

A16. The program provides specialized training that helps professionals better manage governance, risk, and compliance within their organizations.

Q17. What is the vision behind the Internal Audit Award?

A17. The award aims to create a competitive environment that drives continuous improvement and recognizes outstanding contributions in internal auditing.

Q18. How does the Institute plan to support young Saudi talent?

A18. By fostering innovation, providing development opportunities, and recognizing achievements, the Institute helps young Saudis advance in the auditing profession.

Q19. What international bodies are involved in the Institute’s initiatives?

A19. The Institute collaborates with international entities like the University of Cambridge and plans to engage with professional bodies in countries such as China, the US, and the UK.

Q20. What is the long-term goal of the Saudi Institute of Internal Auditors?

A20. The long-term goal is to lead the internal auditing profession regionally and internationally, establishing Saudi Arabia as a benchmark for excellence in the field.

Vision 2030 Alignment

This forward-looking strategy aligns seamlessly with Saudi Vision 2030, which prioritizes the development of human capital, the diversification of the economy, and the elevation of national expertise to global standards. By aiming for leadership in internal auditing, the Saudi Institute of Internal Auditors is not only enhancing professional standards but also reinforcing the Kingdom’s role as a hub for innovation and governance in the region and beyond.

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