Business & Money | Monday 11 December, 2017 4:00 pm |

The UAE is leading the way for the region by setting exemplary standards in internal audit, which is working in tandem with the smart initiatives by the government.

 

Dubai is hosting the 7th Chief Audit Executive Conference from December 12 to 13. It is being organised by the UAE-IAA, which has over 1,700 internal audit professionals as its members.

 

The conference will be held under the patronage of the UAE Minister of Economy, His Excellency Sultan Bin Saeed Al Mansoori.

 

The Minister remarked: Auditing is playing a vital role in the success of organisations across the UAE, especially as the economy strides toward transforming to a ‘smart economy’. The UAE has always been on the forefront in adopting the latest and best technology, policies and processes in every area and now we see it is actively pursuing its move to stay 10 times ahead of others. This brings in bigger challenges for auditors and today’s gathering of top leaders and chief executives in this field presents a strong platform to discuss these challenges and layout a strategic roadmap to prepare for the next-gen auditing. I wish this conference great success in achieving its goals of taking internal auditing to the next level.”

 

Abdulqader Obaid Ali, Chairman, UAE Internal Auditors Association (IAA), highlighting the rising importance of internal audit, said organisations can reap the tremendous business opportunities presented by digital transformation only if they are fully equipped to handle the numerous challenges that come along the way and an effective internal audit plays a critical role in ensuring this success.

 

More than 200 Chief Audit Executives from over 30 countries will participate in the fully interactive "Smart Conference”, to be held under the theme ‘Internal Audit in the Matrix of Digital World’.

 

The UAE, through its path-breaking initiatives toward transforming business and life by innovative implementation of the latest smart technologies, is setting exemplary standards.

 

The recently launched UAE’s Strategy for the Fourth Industrial Revolution will further strengthen the UAE’s position as a global hub for the Fourth Industrial Revolution and increase its contribution to the national economy by means of advancing innovation and future technologies. The ‘Smart Dubai’ 2021 initiative, launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, will lead to fully paperless transactions by the Dubai government by 2021.

 

These and numerous other initiatives are ushering in a wave of rapid transformation in the way businesses are being conducted, and organisations are keen on effectively handling and making the most of the Digital Era.

 

The two-day conference, which is dedicated for the Creme de la Creme in the field of Internal Audit, will witness internal audit experts leading names in the audit industry including Protiviti, PwC, Grant Thornton, KPMG, More Stephens, Deloitte and Team Mate, share insightful presentations on highly relevant subjects ranging from VAT Implementation Audit, Demystifying Artificial Intelligence, Digital Forensics, Understanding Cyber Risks across the Generational Divide, Consumer Internet of Things, the CAE brand in a Digital World, Big Data, Critical Readiness Elements for VAT to Social Media Governance, Humanity in the Digital Era, Beyond Data and Analytics and other subjects, helping organisations stay ahead of the challenges presented by digital transformation.

 

Richard Chambers, IIA Global CEO, will deliver a Key Note address on the opening day of the conference. Saeed Al Dhaheri, Chairman of Smartworld, will deliver a guest speaker speech during the conference.

 

Richard Chambers said:” In bringing together internet audit leaders from more than 30 countries, the IAA-UAE’s 7th Chief Audit Executive Conference  is a remarkable initiative that reflect the seriousness with how this country is pursuing strong governance within its institutions. We are witnessing great change across the business and economic landscape in this region and globally, increasing the importance and value of internal auditing. By presenting relevant and highly topical issues and setting high expectations for excellence, this conference is crucial to outstanding internet audit leadership and winning the confidence and trust of all stakeholders.”

 

During the conference, the UAE-IAA will also announce the winners of the Best Practice Award in Internal Audit, which appreciates Internal Audit departments that go the extra mile to implement practices and standards to ensure effective and efficient performances when compared to other organizations.

 

Through this award the UAE Internal Auditors Association aims to encourage Internal Audit departments to improve and enhance their activities by learning from those who have been successful.