Saturday 25 June 2022 - 9:37:53 am

UAE, Saudi Arabia sign joint cooperation agreement in internal auditing

DUBAI, 28th February, 2022 (WAM) -- The UAE Internal Auditors Association and Saudi Internal Auditors Association have signed a cooperation agreement to work the internal auditing domain jointly.

Abdulqader Obaid Ali, Chairman of the Board of UAE Internal Auditors Association, and Abdullah Saleh Al-Shebeili, CEO of the Saudi Internal Auditors Association, signed the agreement.

The agreement is the outcome of the keenness of the two organisations to effectively support and enhance their existing strategic partnership to ensure its advancement and development continuously, for laying the foundations of cooperation for integrating their objectives and enhancing the role in achieving strategic goals.

Abdulqader Ali said, "We are pleased to sign the joint cooperation agreement to exchange our common experiences, which will contribute to the development of the profession in the UAE and Saudi Arabia. This will raise the capabilities of internal auditors in the two countries to advanced levels to keep pace with the challenges facing the profession and comply with professional standards."

Abdullah Al-Shebeili said, "We are pleased to sign this agreement, which comes in response to the aspirations of the leadership of the two countries to deepen and enhance joint cooperation in various fields, given the growing interest in the internal audit profession in Saudi Arabia and the UAE parallel to their level of development and prosperity experienced."

The agreement aims to develop a framework for corporate governance to enhance investor confidence; establish strategic alliances with regulatory and legislative authorities; develop the internal audit profession, provide expertise and specialisations, and work to localise it in the two countries.

The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in the preparation and organising of internal audit conferences; exchange of experiences in quality assurance; training under the HASAAD Development Programme; joint nomination of speakers at specialised conferences in the two countries, and other areas of cooperation.

WAM/Tariq alfaham/MOHD AAMIR