News
National conference aims to spread awareness on internal audit
The Institute of Internal Auditors (IIA) Qatar chapter’s 7th National Conference on Internal Auditing kicked off yesterday in the presence of HE the President of Civil Service and Government Development Bureau (CGB) Abdulaziz bin Nasser bin Mubarak al-Khalifa. Held under the theme “Be Brave”, the two-day conference aims to spread awareness on internal audit and its signifi cance in optimising works, as well as upgrading surveillance, governance and risk management. Al-Khalifa said the event refl ects the spirit of the robust cooperation and partnership between the bureau and IIA in Qatar. He underscored the CGB’s keenness to perpetuate the professional co-operation with IIA which is demonstrated through the joint commitment to enhance effi cacy and innovation in functionality, in recognition of the signifi cance of an eff ective internal audit in ministries and institutions, to off er an added value and be one of the vital tools of advancement. The objective of the eff ective professional co-operation between the two sides lies in bolstering transparency, excellence in performance, quality and accountability in the multi-pronged government operation aspects to achieve development and sustainability, al-Khalifa said. HE the Chairman of Abdullah bin Hamad al Attiyah International Foundation for Energy and Sustainable Development, and former Deputy Prime Minister and Minister of Energy and Industry Abdullah bin Hamad al-Attiyah emphasised the signifi cance of the conference theme and its role in solidifying the works of the institutions, particularly with respect to transparency and combating corruption. He pointed out that the conference covers broad topics, such as risk management, combating of fraud, internal audit reports and other relevant topics, in addition to highlighting numerous challenges related to upsurge in corruption issues in the entire region, and underscoring the need to seriously operate in the fi eld of audit in general. Chief of IIA Adel al-Hashimi pointed out that the theme of the conference expresses the courage inspired by wisdom and science, and derived from professionalism and international standards which constitute an added value for the operation of institutions. (QNA)
Internal Auditors meet on 'Strategies to improve internal audit function'
'Continuous auditing-building a better internal audit function' was the seminar topic by The Institute of Internal Auditors Qatar Chapter held recently. The presenters were Jon Taber, Internal Audit Manager at Casey's, USA, and Alexander Ruehle, an audit innovation evangelist who believes that in a data-driven world, it is human beings who make a difference. Jon has a Masters in Financial Fraud Investigations from Pfeiffer University and hosts the 'AUDIT IS FUN' podcast. Alexander, CEO and co-founder @ zapliance, Germany, works on AI and Data Analytics tools for business process improvement.
The key objectives of the session were to define continuous auditing, differentiate it from continuous monitoring, and demonstrate how internal audits can benefit through early detection of abnormalities. Alexander covered future strategies by applying artificial intelligence and advanced data analytics.
Jon defined Continuous auditing as close to real-time review of key processes enabled through a collaborative approach with input from the business. While continuous auditing is IA's domain, the business is responsible for monitoring. While an increase in internal audit effectiveness is possible with continuous auditing, improving the internal control environment to meet a business objective is the benefit of continuous monitoring.
"There are quick wins by recovery of duplicate payments, making supplier payments on due dates, locating misappropriations, etc. An ounce of Fraud prevention is worth a pound of cure," said Jon, with stories of unveiling frauds through continuous auditing.
"AI is here to stay. Implement machine learning and automate the review process. It is important to work towards exception-based reporting," Ruehle stated on the future readiness of auditors. "Every finance or compliance function will have to transform itself several times over the next 10 years. The window for not applying AI in business is closing fast," Dr. Nick Gehrke was quoted in the context of AI or not AI.
Alexander dealt with transforming the value contribution of internal audit function as data-based, people-centric, and context-driven. The mantras were to Develop solutions, Enable business professionals, Convert feedback to knowledge, and share knowledge.
"The hallmark of the seminar was novel ideas and real-life case studies to explain the concepts and break down the benefits that could be achieved in the business. How to obtain data, pre-trained model, prioritized results through innovative tools like ChatGPT, KINME, zapCash was thought-provoking," Sundaresan Rajeswar, Board Member, said in his closing remarks.
Girish Jain, Seminar Chair, handled the Q&A session, Muralikrishna was tech support, and Aisha Rafeeque liaised with the speakers.
The Top business risks 2024
As we approach 2024, companies must stay ahead of emerging risks and prioritize their efforts accordingly. The Middle East is going through rapid development with large projects and technology advancements attracting investment and innovation. The risk landscape is dynamic and fast-moving, with interconnected threats that require proactive involvement.
The top business risks in 2024 are predicted based on research, surveys, and studies by credible published global sources with an understanding of the minutiae of regional business scenarios. Cybersecurity and data security-84%, Human capital-57%, Macroeconomic and geopolitical uncertainty-43%, and Digital disruption with new technologies-33% emerge as the top risks.
As organizations grapple with an increasingly weaponized cyber-attack landscape, cybersecurity is the biggest persistent threat, the number one risk for the sixth year, with risk rating increasing by 11% over the previous year. It is no surprise given many high-profile cyber incidents, including the ransomware attacks and an increase in so-called "wiper attacks." An organization's resilience and cybersecurity are important when dealing with external, imminent, and hard-to-predict threats.
Organizations continue to face a human resources crisis; human capital, diversity, and talent management are the second biggest risks as businesses struggle to fill vacant positions and retain talent. The ability to attract, develop, and retain top talents and address succession challenges is a critical risk.
To navigate an uncertain economic environment is the next biggest risk. The multilayered impacts of a global pandemic, war in Europe, geopolitical developments, the high inflation rate, and aggressive monetary policies bring continued economic uncertainty in managing external risks. It means being nimble and having the resources to respond to the unexpected.
New and emerging technologies and other market forces enable the rapid speed of disruptive innovations. Digital disruption refers to the transformative impact of technology on the traditional design of the organization's business model. It addresses questions about the speed of "digital programs" and their operational success. As high-speed technological developments like Artificial Intelligence pose a new and emerging threat, digital disruption and new technology will be a top risk. Adoption of digital technologies requires new skills that are in short supply.
A common reflection of thought leaders is how important it is for management to protect organizations against risk and maximize the chances of future success. It is imperative to navigate the Polycrisis – a cluster of related global risks with compounding effects where the overall impact exceeds the sum of each part, to survive and sustain business continuity.
The Cybersecurity investment strategies focus on automating control processes and professionalizing cybersecurity culture. The effective and efficient setup, alignment, and execution of programs ensure that businesses can withstand and recover from actual incidents, maintain operational continuity, and minimize damage. Assessing how cybersecurity risks are dealt with, reviewing and testing measures and response plans to protect the assets, and benchmarking the internal setup against best practices are essential. Evaluate cybersecurity awareness and training and assess effectiveness.
Build greater organizational resilience. Strengthen organizational governance to identify risks and monitor them before problems arise. Test risk and mitigation strategies using scenario run-through exercises to identify inter-related risks that could remain hidden. Understand the risk universe to tackle emerging risks and grasp new opportunities.
Effective people and talent management is pivotal in building trust and a base for nurturing a loyal workforce. Assess whether the organization's values and objectives align and are communicated within and outside the business to engage with potential and existing talent.
Future risk expectations are digital disruption and climate change among the top risks. The cyber-attacks, economic downturns, environmental events, or the emergence of a disruptive new competitor are others. Transforming business operations by designing more efficient value chains depends on how new technologies are embraced and whether they deliver the promised value-add.
Forward-thinking executives should embrace ambiguity and complexity as an opportunity. Rarely anyone knows what is next; hence, the need is insight and foresight, mainly from audit and risk professionals who, with their robust business acumen, could look beyond known risks to emerging and potential risks. The future is uncertain, and building resilience to emerging threats will be a key business trend in 2024.
Internal Auditor's Qatar conducts training on 'Emerging Enterprise Risks with Evolving and Effective Control
The Institute of Internal Auditors Qatar Chapter conducted training on 'Emerging Enterprise Risks with Evolving and Effective Control' by Tejjashree Rao, Chief Internal Auditor of British American Tobacco, UK, Middle East and Africa Regional Operations and Global Technology. The session focused on three areas: Emerging Risks Landscape, Controls and effective management of emerging risks.
Tejjashree mentioned the Emerging risks landscape as "The perfect storm of high-impact interlocking risks faced by organizations." Top risks were listed as macroeconomic and geopolitical uncertainty, Digital Transformation, Cyber and data security, Human capital and talent management, and ESG.
"The emerging risks to move from reactive (measure & manage) to proactive (sense and respond) risk management. Predictive risk identification requires techniques like Horizon Scanning and Key Risk Indicators (KRI), Continuous monitoring, and Data analytics for audit risk assessments. Dynamic Risk Prioritization involves using risk velocity to gauge which emerging risks need immediate attention and warrant an audit. Adaptive Risk Response uses Agile Audit Principles to refine the design of controls as the risk evolves," Tejjashree explained.
Macroeconomic and geopolitical uncertainty risk-related controls that should be in place are scenario planning, liquidity management, financial modeling, and operational resilience. The consideration for audit is continuous monitoring with stakeholders.
Digital transformation risk requires control by aligning project benefits to the organization's strategic goals and a robust program Governance, Oversight, and Status Reporting. "Internal audit should add more 'Advisory reviews' on the plan for key projects to provide real-time inputs as the project progresses through its lifecycle," stated Shree as a solution.
Cyber and Data Security risk mitigation controls consist of Cyber Incident Response and Recovery Plans, Identity and Access Management Policies and Standards, and Cyber threat intelligence and monitoring procedures. Internal audits should consider Automated Continuous Control Monitoring reports to provide a more real-time view of vulnerable areas.
Human capital and talent management risk cannot be taken lightly by auditors. Conducting thematic culture audits covering identified hotspots and additional audit ratings for management risk awareness and control culture is recommended. "During all audits, evaluate how the Function/business area is mitigating People risks," Shree enforced.
The main aspects of ESG risks and controls are to monitor progress made against ESG goals and regulatory requirements from international laws on ESG. Focus is to be given to ESG Data Management, especially on those metrics that are externally reported.
"The training imparted invaluable insights into emerging risks, effective internal control, and internal audit preparedness. Shree emphasized auditors deliver value through planned assurance and continuous controls monitoring, insights & foresight through increased automation & data analytics, and an improved organizational risk & control culture. The perspectives provided were compelling, relatable, and adaptable," Sundaresan Rajeswar, Board Member, said in his concluding remarks.
Girish Jain, seminar chair, conducted the Q&A session and opened the meeting. Robert Abboud, Past President of the IIA, spoke during the closing session.
Internal Auditors Chapter hosts 'The Anti-Fraud Strategies Masterclass'
Managing Fraud Risk by Preventing, Detecting, and Responding to Fraud was the learning objective for the Masterclass by Iyad Mourtada for the Institute of Internal Auditors Qatar held recently at Hyatt Regency Hotel.
The trainer, Iyad Mourtada, CFE, started his career in Chicago, USA. In 2011, he moved to the Middle East and began OpenThinking Academy, specializing in anti-fraud and audit courses. He is an ACFE Authorized Trainer in the GCC teaching the CFE Exam Review Course, and more than 3,000 ACFE members have passed the CFE Exam with him.
Mourtada started his presentation by bringing the context with staggering fraud data. $1.4 trillion is lost annually to scams; cybercrimes are estimated to cost the world $8 trillion in 2023, and perpetrators are 43% external, 31% internal, and 26% combination. The percentage of fraud cases involving corruption is on the rise from 31% in 2012 to 50% in 2022. Further, fraudsters are evidently collaborating as single-person fraud instances are 42%, whereas multiple-person cases are 58%, a reversal of the situation compared to 2012. The top three types of fraud are cybercrimes, customer fraud, and asset misappropriation.
The Committee of Sponsoring Organizations (COSO) and the Association of Certified Fraud Examiners (ACFE) released the Fraud Risk Management Guide-2023, which offers a blueprint for establishing a Fraud Risk Management Program. The guide gives guidelines that include recent anti-fraud developments, revised terminologies, and important information related to technology developments - specifically data analytics.
The Fraud Risk Management guide brings out the Control environment, Risk assessment, Control activities, information and communication, and Monitoring as the core framework. The four facets of fraud prevention, detection, response, and deterrence need resolution through legislation, risk management, corporate governance, and ethical culture.
"Use nudges to complement traditional methods of risk management," Iyad stated from a practitioner's viewpoint. Organizational culture goes beyond compliance programs. "There should be a high level of top management commitment to fraud risk management, tone at and conduct from the top," mandated Mourtada as essential success criteria.
The implementation involves documenting the Fraud Risk Management program, communicating it at organizational levels, establishing a whistle-blowing policy, and using the right data analytics tools. "Don't assume, Know. Acquire fraud risk intelligence, a mental capability to identify, assess, evaluate, and manage frauds," Iyad emphasized.
"It is impossible to eliminate all frauds. However, fraud risk should be managed. Also, fraud is not static. We must keep updated on Fraud risk management, deterrence, control frameworks, data analytics, and legal and regulatory changes. The Fraud Risk Management Guide is a must-read publication for auditors who are involved in fraud deterrence. It is an indispensable subject for internal audit professionals," said Sundaresan Rajeswar, the IIA Qatar Board member who coordinated the event.
Girish Jain, seminar chair, opened the meeting, Rajeswar welcomed the gathering, Christian Adonis spoke during the closing session, and Aisha Rafique liaised with the speaker. Over 100 members attended the training.
The Institute of Internal Auditors Qatar conducts training on 'Third-party due diligence in high-risk environments.
Training on 'Third-party due diligence in high-risk environments' was recently conducted by The Institute of Internal Auditors Doha Chapter.
Using third parties is inevitable for organizations, but invariably, it presents various risks, including strategic, reputational, regulatory, financial, compliance, and others. Regulations governing critical third parties are mounting, and there is a need to keep pace with the threat landscape. However, when utilized effectively, third parties can provide tremendous value in specialized knowledge, increased capacity, reduced overhead, and customized business solutions. The training objective was to explore diverse third-party due diligence implementation strategies while discussing the merits and drawbacks of different systems.
The trainer, Mustafa Zacour, CIA, CFA, is the founder of GRC Consulting Group, Saudi Arabia. Mustafa has been working with Navex for the last nine years and was nominated for the Global Navex award for system installation, the only company in the Middle East to achieve such an honor. His previous experience included being head of Compliance at Maaden where he was seconded for Shell to Basrah Gas and Chief Audit Executive with Alfardan Group.
"High risk is wide-ranging, and organizations should define, decide, and draft due diligence policy and procedure manual and get proper sign-off on this document. Define what constitutes high risk, decide the due diligence needs, an approach to follow who must be screened, and when," stated Mustafa in his opening remarks.
The due diligence needs of companies depend on types of risk exposure, third-party global reach, and internal control maturity. The third-party information (Who), the onboarding process (What), Compliance involvement (When), and addressing risks (How) is the primary structure. "Listing out risks is the easy part, but designing mitigations and internal workflow design is the major hurdle," said Mustafa.
Typical third-party risks are Financial ability, Performance, Sanctions, Corruption, AML/KYC, and People categorized as PEP (Politically Exposed) and SOE (State-owned Enterprise). The ranking of risks is determined based on these criteria. Mustafa emphasized, "Failure to properly identify your due diligence needs will lead to a resource misalignment and increase the potential of not getting the right type of information you need. Pick the right system for your needs."
"Internal audit should be at the forefront of managing the risks associated with third parties by independently reviewing, evaluating, and reporting on the business practices. Internal Auditors must know how third parties are selected and managed. With the variety and velocity of risks, it is often pushed aside as someone else's responsibility; the consequence is that we may get caught off guard," said Sundaresan Rajeswar, the IIA Qatar Board member who coordinated the event.
Girish Jain, seminar chair, opened the meeting, Rajeswar handled the Q&A session, and Aishya liaised with the speaker. Over 100 members attended the training.
PwC Middle East Qatar, IIA Qatar host internal audit conference
PwC Middle East, in collaboration with IIA Qatar, successfully hosted the ‘Internal Audit Conference: Let’s Change the Way We See Risk’ held recently in Doha.
The conference, which brought together industry professionals and experts to explore new perspectives on internal audit and risk management, was held following the recent signing of a memorandum of understanding (MoU) between PwC and IIA Qatar at the PwC Middle East office in Qatar.
The MoU establishes a collaborative partnership aimed at raising awareness of internal audit in Qatar and collaborating on joint initiatives to enhance the skills and expertise of Qatari talent in the field. This collaboration signifies the shared commitment of both organisations to elevate the standards of internal audit practices in Qatar and contribute to the professional development of the local workforce.
Issa Habash, Risk Lead at PwC Middle East in Qatar, said: “Through our partnership with IIA Qatar, we aim to equip internal auditors in Qatar with the essential knowledge and skills to navigate the dynamic and evolving risk landscape. This collaboration is an opportunity to accelerate positive change and lay a robust foundation for the future of internal audit in Qatar.”
Adel al-Hashimi, president of the IIA, said: “Internal auditors should maintain, improve and develop competence, especially with regard to understanding the expectations of stakeholders and senior management, as well as developing skills and knowledge related to technology trends and their impact on the field of internal audit.
“To provide a suitable environment for developing skills and promoting the transfer of knowledge and experiences between professionals, IIA signed an MoU with PwC Qatar. The first output was this conference, in which we witnessed the presence of professionals and interested parties that exceeded expectations, and if this indicates the growing interest on the part of our members and professionals in these conferences to transfer knowledge and develop appropriate skills that help them perform their duties efficiently and effectively.” He added: “I would also like to point out that since the Institute of Internal Auditors began its work in Qatar, and after nearly two decades have passed, we have witnessed growth and progress in the internal audit profession in the State of Qatar.
“It was chosen that this conference be held in the month of May, which is considered the month of awareness of internal auditing, to be part of a series of conferences with the aim of raising awareness. The title of the conference was chosen to include one of the most important topics in the field of auditing and risks.”
In his speech, Habash provided insights on navigating the new risk multiverse and highlighted the need for organisations to adapt their risk management approaches to thrive in a rapidly changing landscape.
Rashid al-Mansoori, CEO of Aamal, presented his views on ‘CEOs' Expectations of Internal Audit’. Azzah Fawzi, Risk Partner & ESG Reporting Leader at PwC Middle East, highlighted the importance of bridging the ESG trust gap and the role internal audit plays in achieving ESG assurance.
Habash also explored how audit committees can add value during times of uncertainty, shedding light on the valuable role they play in strategic decision-making. The event concluded with a session focusing on the digitisation and transformation of internal audit, which was led by Dabeer Rasul and Ziad Zogheib, both Risk Partners at PwC Middle East.
Internal Auditors host event on 'FINTECH LANDSCAPE IN THE MIDDLE EAST & AFRICA'
The Institute of Internal Auditors Doha Chapter recently conducted a webinar on the Fintech (Financial Technology) landscape in the MEA.
Mohamed Roushdy, the speaker, is a multi-faceted Information Technology professional with over 20 years of extensive experience as Chief Information Officer (CIO) and CXO advisor in leading organizations in GCC. Roushdy is nominated as one of the top 50 CIOs and top 50 Digital leaders. He regularly speaks at regional and international conferences about Fintech, Proptech, and disruptive technologies.
A bank is a financial institution licensed to receive deposits, make loans, and provide financial services, such as wealth management, currency exchange, etc. FinTech includes technological innovation in the financial sector, investment, and cryptocurrencies like Bitcoin.
Roushdy took the audience through Fintech history, evolution, and disruptive ecosystem. Digital banking started with ATMs in 1960, the Internet in 1980, E-banking in 1990, CCDMs in 2000, and smartphones in 2007. Fintech startups complement banking services and integrate with banks for Financial aggregation, Mobile CRM, and Big data analytics/scoring. Digital banking technology enablers are Cloud, Social, AI, Biometric, Mobility, IoT, Cryptocurrency, DLT, etc.
Why Fintech was a question the audience wanted to know. Roushdey answered seven reasons: Innovation around user experience, Mobile only transactions, Focus on one or more products, Same regulations, Favor media buzz and support, fresh outlook, and failure of banking channels to meet customer demands.
FinTech has been gaining traction in the Arab World, with more FinTechs emerging yearly. 349 FinTech solutions by 326 unique FinTech providers were identified. Of those FinTechs, 44% of solutions fall under the Payments and Remittances category, and 43% have a Financial Inclusion aspect. Most identified active FinTech solutions adopt a business-to-consumer (B2C) delivery model, followed by business-to-business (B2B). Limited business-to-business-to-consumer (B2B2C) solutions are available due to revenue cycle challenges. "Despite good digital skills, the Arab World lags behind the global average in digital payments," said Roushdy.
Answering a question from a participant, Roushdy said, "Qatar's excellent infrastructure, a favorable macroeconomic environment, and good levels of health and primary education are the country's strengths. Though Fintech initiatives started a little late, it is catching up by partnering with fintech firms operating mainly in Europe and India, while the government is also financing startups at home. It invests in cyber-security, data analytics, and digital access."
The future outlook of Fintech is the world of Open Banking, leading to open finance services to meet customers' needs, such as pension, insurance, and wealth management, and tools for lending or payment processing by a non-financial provider. "The way forward for Fintechs move to more product offerings by consolidation between Fintechs, move from consumer only to business and with incumbent back office to customer interface," reiterated Mohamed in his parting message.
"Discussions covered why it matters, its history, and the key pillars of the Fintech ecosystem. The talk dealt with different types of Fintech startup opportunities. Being a nascent but highly progressive field, the attendees, predominantly auditors, appreciated the deliberations as a must-have field of knowledge," said Sundaresan Rajeswar, a Board Member of the IIA who coordinated the event.
Girish Jain, the Seminar chair, welcomed the gathering, Muralikrishna was technical support, Rajeswar handled the Q&A session, and Aisha Rafique was the liaison with the speaker. The event had 100 members in attendance.
16 June 2023
IIA Qatar hosts conference under the topic “Let’s Change the way we see Risk.”
IIA Qatar. successfully hosted the 'Internal Audit Conference: Let's Change the Way We See Risk’ in Doha.
The conference brought together Industry professionals and experts to explore new perspectives on Internal audit and risk management. It was held following the recent Signing of a memorandum of understanding (MoU) between PwC and IIA Qatar at the PwC Middle East office In Qatar. The MoU establishes a collaborative partnership aimed at raising awareness of Internal audit In Qatar and collaborating on joint Initiatives to enhance the skills and expertise of Qatar Talent in the field.
Adel ai-Hashimi, president of the IIA, said: *Internal auditors should maintain. Improve and develop competence. especially with regard to understanding the expectations of stakeholders and senior management. as well as developing skills and knowledge related to technology trends and their Impact on the field of Internal audit.
'"To provide a suitable environment for developing skills and promoting the transfer of knowledge and experiences between professionals. IIA Signed an MoU with PwC Qatar. The first output was this conference. In which we witnessed the presence of professionals and Interested parties that exceeded expectations and If this Indicates the growing Interest on the part of our members and professionals in these conferenC2S to transfer knowledge and develop appropriate skills that help them perform their duties efficiently and effectively." He added.
16 May 2023
IIA Doha Chapter celebrates Internal Audit Awareness Month
“Proud to be an Internal Auditor”
Continuing a long-standing tradition that started in the 1990s, The Institute of Internal Auditors observes “International Internal Audit Awareness Month” each May – a time for internal auditors around the world to share examples of how the profession provides value to organizations, spotlight the profession’s commitment to good governance and risk management, and explain how internal auditors protect the public interest.
IIA Doha Chapter organized an one day conference in Arabic on 16 May 2023 as part of celebrating IIA awareness month. The conference was well received among audit community especially in the local community.
The Chapter activities are back in full energy after the restrictions caused by the pandemic. Under the leadership of the President Mr. Adel Al Hashmi, new board members from the expat and local community have been inducted to the IIA Qatar Board to develop and empower the young leaders of the audit community.
21 February 2023
Top Business Risk Areas for 2023
The overall risk landscape of the past few years has proven complex, but the resilience shown by businesses is remarkable. The plans developed, implemented, and executed during the pandemic and in its wake are now far more resilient.
13 February 2023
Forensics & Investigations for the Internal Auditors
The role of Forensics and Fraud Investigations has remained an integral part of the Internal Audit. In the Middle East, management predominantly had taken the position of zero tolerance for breach of trust, misconduct, unethical acts, and fraud. The Institute of Internal Auditors Doha Chapter recently conducted Forensic and investigation training for members.
9 February 2023
Internal Audit and Human Personality: Compatibility Mapping
The Institute of Internal Auditors Qatar's latest webinar on "Internal Audit and Human Personality: Visionary Insights Into Compatibility Mapping, presented by Karem Obeid and Sultaneh Naeem, was a big success with a full-capacity audience throughout the session.
7 February 2023
Predict to Prevent' – Unleashing Internal Audit's Value. – Webinar by Imran Zia
"The scale and scope of risks are changing at an unprecedented pace, propelled by the increasing interconnectedness of organizations and rapid disruptions in business models and technology landscapes. Internal Audit function should transform their service delivery models to stay relevant in this ever-changing world," stated Imran Zia.
Sundaresan Rajeswar, a senior Auditor from Qatar, is the recipient of the global recognition 'Internal Audit Beacon Awards 2022.'
Professions thrive through advocacy and diversity of thought. The internal audit profession is no different. For the past three years, Richard Chambers, former President and CEO of the Institute of Internal Auditors, have recognized men and women making an impact on behalf of internal audit around the world.
26 January 2023
Agility for Internal Auditors with Technology"The business landscape has changed. Has Robotics Process Automation (RPA) been effectively used by internal auditors? RPA's coupled with Data Analytics help internal auditors to gain comfort on the entire population. RPA's also help the auditors to leave the mundane and administrative tasks to the BOTs and thus focus as strategic advisors to the company," said Giridhar LS, who presented a session titled 'How can the internal auditor's response be more agile in a changing landscape.'
Developing a culturally inclusive mindset
"Understanding the motivation, knowledge, and skills to cultivate a globally inclusive mindset is necessary to succeed in today's diverse and interconnected work environment," stated Sylvia Gonner in the seminar conducted by the Institute of Internal Auditors Doha Chapter recently. Sylvia is the founder and CEO of CultureWiz, a trainer, and an author specializing in intercultural relationship building, Global mindset and diversity, equity, and inclusion (DEI). She was Global Vice President of the Institute of Internal Auditors and had over 30 years of experience successfully leading international growth strategies.
Yes, your business is a target
"The cyber-attack footprint has changed. Has your security profile changed to match? Cybercriminals are no longer operating in their basements. Today, they are sophisticated operators that rival the structure of major corporations. Businesses should enable the layers of security needed and identify where they are over-spending and where they are often lacking. Companies can improve the security profile often with little to no additional cost," said Matt Kinsey
24 January 2023
In the past, communications about company performance have been financial reporting, but expectations are changing. As a result, Environmental, Social, and Governance (ESG) reporting is rising to the forefront. ESG reporting is an essential management tool that helps companies identify and mitigate risks, address operational inefficiencies, attract and retain talent, and strengthen brands with consistent and reliable sustainability information.
Recently I investigated incidents related to social media hacking and loss of money that revealed vulnerabilities requiring risk and control awareness as business users. In the instant case, funds were placed in a designated bank account to pay for advertisements based on the hits. Hackers breached data and passwords and diverted the funds for another ad for some fancy products. The lesson learned is that some simple steps can mitigate the severe risks of social media.
21 January 2023
Internal Audit has plenty of potential as the profession of the future
The Institute of Internal Auditors Qatar conducted a webinar last week with Dr. Rainer Lenz (CIA, QIAL, CIIA, CEFA), Chief Audit Executive at SAF-HOLLAND Group, on the topic 'The future of Internal Auditing: Gardner of Governance. Dr. Rainer is a seasoned finance and audit professional with 30+ years of international experience as Regional CFO and Chief Audit Executive in global organizations.
14 November 2021
Impacts of Non-Verbal CommunicationThe Institute of Internal Auditors (IIA) Qatar Chapter hosted a webinar on the importance of Soft Skills for professional growth. Nisha Shivram presented the training session titled 'the impact of non-verbal communication.'
12 October 2021
Measuring the ‘likelihood’ in risk management, training session for Internal Auditor“The risk management terminology ‘Likelihood’ or “how often” – means the probability of the risk occurring over a defined time frame. The key learnings were Current Day challenges, Measuring likelihood and reliability, and Solutions and alternatives.
01 August 2021
Internal Auditors Doha Chapter bags Global 2021 Building Awareness Champion AwardGlobal 2021 Building Awareness Champion Award
20 June 2021
It is really time for internal auditors to reinvent the profession and be relevant - Karen BradyMs. Brady talked about how to prove relevance with four aspects; Tie Workplan to a strategic plan, Establish goals and report achievement, state explicitly how Audit helped the organization succeed, and Never settle for the status quo. What is often forgotten is the measurement of value contribution by internal auditors through client satisfaction surveys, fulfilling specific expectations, and addressing strategic initiatives
14 June 2021
Modernization of Internal audit' a special training for Internal Audit Awareness monthThe Institute of Internal Auditors Qatar chapter conducted a special event to celebrate International Internal Audit Awareness Month with training on the 'Modernization of Internal Audit
30 May 2021
Internal auditors adapt to new ways of learning with virtual sessionsA summary on webinars during the pandemic period
26 May 2021
Special event to mark Internal Audit Awareness monthA webinar, Passion to Perform, How to make an impact in your organization, was held with an attendance of 100 auditors. Michael J. Fucilli, the trainer, has 40 years of internal auditing experience in the private and public sectors.
12 April 2021
The Future of Remote AuditingThe Institute of Internal Auditors Qatar chapter held a webinar for its members recently on the future of remote auditing.