Alangari And Australian Institute Of Internal Auditors Sign MoU To Strengthen Internal Auditing Cooperation

The President of the General Court of Audit (GCA) and Chairman of the Board of Directors of the Saudi Institute of Internal Auditors, Dr. Hussam Alangari, has signed a memorandum of understanding (MoU) with Trish Hyde, CEO of the Australian Institute of Internal Auditors. This agreement aims to enhance cooperation in internal auditing, governance, and compliance between the two organisations.

The MoU is built on mutual trust and partnership, adhering to international standards for internal auditing as set by the Institute of Internal Auditors. It highlights the importance of sharing expertise and information to boost professionalism and improve internal auditing practices, governance assessments, and compliance measures in both nations. These efforts will be conducted within their respective legal frameworks.

Dr. Alangari emphasised that this agreement showcases Saudi Arabia's leadership in internal auditing and its dedication to advancing the profession through global partnerships. He mentioned that this collaboration would strengthen ties between Saudi Arabia's and Australia's regulatory bodies, facilitating an exchange of expertise and best practices.

The agreement is designed to tackle challenges in financial, administrative, and operational auditing. It aims to promote regulatory approaches while reducing differences in auditing practices between the two countries. This initiative is expected to lead to more consistent auditing standards across both regions.

Abdullah bin Saleh Al-Shubaili, CEO of the Saudi Institute of Internal Auditors, highlighted that this memorandum underscores Saudi Arabia's active role on the international stage in internal auditing. He described internal auditing as a fundamental aspect of governance, control, and compliance.

Al-Shubaili also noted that the MoU would facilitate information exchange on policies and procedures. It will create opportunities for joint training programs aimed at enhancing the skills of internal auditors. This interaction is expected to enrich their professional knowledge significantly.

The partnership between these institutes is poised to address various challenges while promoting effective regulatory approaches. By fostering cooperation and sharing best practices, both countries aim to achieve more effective governance assessments and compliance measures.

With inputs from SPA