Saudi Institute Of Internal Auditors Engages With Swiss Counterparts Under Global Initiative

The Saudi Institute of Internal Auditors recently visited Zurich, Switzerland, as part of its "From Riyadh to the World" initiative. Led by Chief Executive Abdullah Saleh Al-Shebeili, the delegation included leaders from various government entities. They met with executives from the Institute of Internal Auditors Switzerland and other Swiss agencies and companies.

The visit featured a presentation by the Swiss institute and discussions on successful experiences in Saudi Arabia. The focus was on best practices in internal auditing and control systems within participating entities. The meeting also explored internal control assessments for operational readiness, organizational culture, and regulatory structures concerning governance, risks, and compliance.

Key intersections between internal auditing, governance, risk management, and conformity were highlighted during the discussions. The roles of internal audit departments at the King Abdullah Financial District (KAFD) and the General Court of Audit were also addressed. These discussions aimed to enhance understanding of how these elements interact within organizations.

Al-Shebeili emphasized that the Swiss institute is among the top branches of the Institute of Internal Auditors (IIA). This made it a significant stop for their initiative. He noted that they discussed best professional practices in internal auditing and control systems within entities represented in the initiative.

The meeting also focused on ambitious projects undertaken by Saudi Arabia, with a particular emphasis on auditing processes within these projects. This reflects the Kingdom's commitment to maintaining high standards in its auditing practices as it undertakes significant development initiatives.

The "From Riyadh to the World" initiative aims to elevate Saudi Arabia's status in the internal audit profession globally. It seeks to share knowledge and successful experiences from Saudi Arabia with other countries. This initiative capitalizes on significant advancements made by Saudi Arabia over recent years, especially in oversight involving both government and private sectors.

By engaging with international counterparts like those in Switzerland, Saudi Arabia hopes to further refine its auditing practices while contributing valuable insights to global standards. This exchange is part of a broader effort to position Saudi Arabia as a leader in internal auditing worldwide.

With inputs from SPA