Saudi Institute of Internal Auditors to Hold 10th Conference in Riyadh

The Saudi Institute of Internal Auditors (IIA SA) will hold its 10th Internal Audit Conference, themed “Promising Horizon”, at the Ritz-Carlton in Riyadh on September 11-12, 2024. The conference, which operates under the patronage of President of the General Court of Audit and Chairman of the Board of Directors of the IIA SA Hussam Al-Angari, is expected to draw dignitaries and executives from the Institute of Internal Auditors globally.

Context and Background

This landmark event represents the largest gathering of its kind for internal audit professionals in Saudi Arabia. The IIA SA, as the exclusive branch and representative of the Institute of Internal Auditors locally, plays a pivotal role in guiding and enhancing compliance, governance, and oversight across the public, private, and third sectors. The conference comes at a time when robust internal audit practices are increasingly critical to ensuring transparency and efficiency in line with the Kingdom’s modernization goals.

Key Details

The two-day conference will bring together a select group of local and international leaders and specialists to discuss key challenges facing the internal audit field. Attendees will include dignitaries and executives from the Institute of Internal Auditors, underscoring the global interest in Saudi Arabia’s audit framework. A highlight of the event will be the signing of agreements and memoranda of understanding aimed at enhancing the development and quality of internal audit practices. These agreements are expected to foster collaboration and introduce best practices to the region.

Implications and Impact

The conference underscores Saudi Arabia’s commitment to strengthening institutional governance and accountability, which are vital for attracting foreign investment and supporting economic diversification. By hosting global experts and facilitating knowledge exchange, the IIA SA is positioning the Kingdom as a hub for professional excellence in internal audit. This initiative aligns with broader efforts to elevate standards in public financial management and corporate oversight, contributing to a more transparent business environment.

Vision 2030 Alignment

The 10th Internal Audit Conference directly supports Vision 2030 by reinforcing the foundations of good governance, compliance, and oversight across Saudi Arabia’s institutions. As the Kingdom advances its ambitious transformation agenda, robust internal audit mechanisms are essential for ensuring accountability and efficiency in both public and private sectors. This conference, by promoting innovation and collaboration in the audit profession, contributes to the creation of a sustainable and prosperous future for Saudi Arabia.

20 Questions

Q1. What is the Saudi Institute of Internal Auditors?

A1. The Saudi Institute of Internal Auditors (IIA SA) is the official branch of the Institute of Internal Auditors in Saudi Arabia, guiding audit practices and enhancing compliance and governance.

Q2. When will the 10th Internal Audit Conference take place?

A2. The conference is scheduled for September 11-12, 2024, at the Ritz-Carlton in Riyadh, bringing together audit professionals from around the world.

Q3. What is the theme of the conference?

A3. The theme is “Promising Horizon”, reflecting the forward-looking vision of internal audit’s role in supporting Saudi Arabia’s transformation under Vision 2030.

Q4. Who is the patron of the conference?

A4. The conference is under the patronage of Hussam Al-Angari, President of the General Court of Audit and Chairman of the Board of Directors of the IIA SA.

Q5. What is the General Court of Audit?

A5. The General Court of Audit is Saudi Arabia’s supreme audit institution responsible for overseeing public funds and ensuring financial accountability in government entities.

Q6. Why is this conference significant for Saudi Arabia?

A6. It is the largest gathering of internal audit professionals in the Kingdom, highlighting Saudi Arabia’s commitment to transparency, governance, and economic modernization.

Q7. Who will attend the conference?

A7. The event will host local and international leaders, specialists, and executives from the Institute of Internal Auditors, along with dignitaries from Saudi institutions.

Q8. What agreements will be signed at the conference?

A8. Memoranda of understanding and agreements focused on enhancing the development and quality of internal audit practices are expected to be signed.

Q9. How does the IIA SA support the audit profession?

A9. The IIA SA provides guidance, training, and resources to improve compliance, governance, and oversight across public, private, and third sectors in Saudi Arabia.

Q10. Is the IIA SA affiliated with an international body?

A10. Yes, the IIA SA is the only branch and representative of the global Institute of Internal Auditors in Saudi Arabia, linking local practices to international standards.

Q11. What sectors benefit from internal audit improvements?

A11. Internal audit enhancements benefit the public, private, and third sectors by strengthening accountability, risk management, and operational efficiency.

Q12. How does the conference relate to Vision 2030?

A12. The conference promotes good governance and transparency, which are essential for achieving Vision 2030’s goals of economic diversification and sustainable growth.

Q13. What are the main challenges in internal audit today?

A13. Key challenges include adapting to digital transformation, managing complex risks, and ensuring compliance with evolving regulations in a dynamic business environment.

Q14. Will international experts participate in the conference?

A14. Yes, the conference brings together a select group of local and international leaders and specialists to share knowledge and discuss industry challenges.

Q15. How does the conference promote collaboration?

A15. Through the signing of agreements and networking opportunities, the conference facilitates partnerships between Saudi institutions and global audit organizations.

Q16. What is the role of internal audit in governance?

A16. Internal audit provides independent assurance on risk management, control processes, and governance, helping organizations achieve their objectives effectively.

Q17. How often does the IIA SA hold this conference?

A17. This is the 10th edition of the Internal Audit Conference, indicating a decade-long commitment by the IIA SA to advancing the profession in Saudi Arabia.

Q18. What is the significance of the Ritz-Carlton venue?

A18. The Ritz-Carlton in Riyadh is a prestigious venue often used for high-level conferences, reflecting the importance and official support for this event.

Q19. How can professionals benefit from attending?

A19. Attendees gain insights into best practices, network with peers and experts, and learn about emerging trends that enhance their skills and organizational impact.

Q20. What is the long-term goal of the IIA SA?

A20. The IIA SA aims to elevate the internal audit profession in Saudi Arabia to international standards, supporting the Kingdom’s vision of a transparent and accountable economy.

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