Internal auditors vow to fight fraud, corruption

dubai - Summit teaches experts how to contribute to corporate governance, fraud detection and compliance,

The Institute of Internal Auditors (IIA) International Conference 2018, which drew some 3,000 experts from the global internal audit industry, opened on Monday at the Dubai International Convention and Exhibition Centre with a call to connect the world through innovation.
Sultan bin Saeed Al Mansouri, UAE Minister of Economy, inaugurated the 3-day event with his session on 'Global Issues Impacting Business'.

In a message to the participants, Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and chairman of Dubai Supreme Fiscal Committee in Dubai, stressed the importance of the summit in promoting policies and standards to move the national economy forward to further leadership and globalisation.

"In line with the theme of 'Connecting the World Through Innovation', Dubai is also striving to become the world's smartest city in the age of the Fourth Industrial Revolution."

He said internal auditors in the UAE and the region would be able to learn about the best practices and solutions from experts on how to address the challenges facing the industry, and how to contribute to corporate governance, fraud detection and compliance, which will enhance the credibility and efficiency of institutions.

Auditing plays a vital role in the success of organisations across the UAE, especially as the economy strides toward transforming to a 'smart economy', according to Al Mansouri.

"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 lay out a strategic roadmap to prepare for the next-gen auditing," the minister said.

Discussions are focused on business disruption, the future of professions and technology, the threat of corruption and the impact of piracy on the economy.

The conference, claimed to be the world's largest internal auditor summit, highlights key issues and challenges facing the global internal audit industry, including digital transformation, business sustainability, emerging concepts of governance, risk management, fraud and corruption and information security. For the first time, topics are being discussed in Arabic.

Abdulqader Obaid Ali, chairman of the UAE Internal Auditors Association, said the conference also highlights the UAE's efforts in adopting international best practices in all institutions, and facilitating dialogue under one platform aiming for the development of businesses and entrepreneurs all over the world.

"We want this conference to reflect the UAE's vision in adopting the latest innovations in the field of internal auditing and its ambitious efforts to build a sustainable economy based on solid foundations that promote innovation and apply the latest technology, and at the same time reinforces transparency, governance and intellectual property rights."

- issacjohn@khaleejtimes.com