بالتزامن مع الشهر العالمي للتوعية بها..«المالية» تنظم ملتقى المراجعة الداخلية

The Ministry of Finance, represented by the General Administration of Internal Audit in Riyadh, organized yesterday the "Internal Audit Forum," coinciding with the global month for raising awareness about internal auditing. The event was attended by the Deputy Minister of Finance, Abdul Mohsen Al-Khalaf, the Chairman of the Steering Committee at the Ministry of Finance and Chairman of the Audit Committee, Abdulaziz Al-Furaih, along with several representatives from government entities.

The Deputy Minister of Finance emphasized that the role of internal auditing has evolved from a purely oversight function to a strategic partner that provides analytical and advisory insights, supporting operations not only through risk analysis but also by offering opportunities and enhancing the added value of the institution. He pointed out that the Ministry of Finance has a direction and ongoing work to enhance the role of internal auditing in these areas.

He indicated that the rapid developments in the business environment and the aspirations of Vision 2030 require a redefinition of the traditional roles of internal audit departments and the adoption of a more effective integrative approach between executive and oversight departments. He stated that the vision is not a routine task but a transformative project that requires proactive integration, noting that internal audit departments and audit committees play a significant role in supporting the initiative to transform accounting to an accrual basis, which will provide a strong accounting framework for the Kingdom serving various fields.

For his part, the Chairman of the Steering Committee at the Ministry of Finance explained that the forum aims to establish a true understanding of the vital role of internal auditing in supporting institutional performance efficiency and enhancing the governance system. He noted that internal auditing should not be viewed as a regulatory element that hinders work but rather as an enabling element that contributes to identifying shortcomings, addressing risks, and achieving integration between processes, thereby improving the quality of decisions and enhancing stakeholder confidence.

He pointed out that the presence of effective internal auditing represents the cornerstone of the sustainability of entities and ensures business continuity within clear and transparent frameworks. He affirmed that any entity, whether governmental or commercial, can achieve immediate gains in the absence of oversight, but it will soon face challenges that threaten its stability and continuity.

The forum included two discussion sessions with several officials from government entities. The first session was titled "The Added Value of Internal Audit," discussing the contributions of internal auditing in supporting business sectors and enhancing their value in making well-considered strategic decisions, along with measuring the maturity of internal auditing and adding value to entities, and the role of integration with other oversight departments in achieving added value for entities. It transformed from a regulatory tool to a partner in achieving institutional goals, featuring participation from the Undersecretary of the Ministry of Finance for Communication and Media, Hassan Al-Sheikh, the Director General of the General Administration of Internal Audit at the Ministry of Finance, Rawaan Basudan, and the Head of Internal Audit at the Royal Commission for AlUla, Maher Al-Ayadi.

The second session was titled "Internal Audit in the Era of Digital Transformation," highlighting the role of digital transformation and its strategies in managing internal auditing, in addition to the tools provided by artificial intelligence that contribute to ensuring continuous monitoring. It discussed the risks of digital transformation and the mechanisms for adapting internal auditing to the developments in the digital work environment, with participation from the Deputy CEO of the Governance, Compliance, and Risk Sector at the National Center for Government Resource Systems, Firas Al-Azouri, the General Supervisor of the General Administration of Internal Audit at the General Court of Accounts, Dr. Saitah Al-Mandeel, and the Head of Internal Audit at the Zakat, Tax, and Customs Authority, Manal Al-Sultan.

It is noteworthy that the forum aims to enhance awareness of the importance of internal auditing and highlight its pivotal role in improving the oversight environment, in line with international standards for the professional practice of internal auditing issued by the Institute of Internal Auditors, and emphasizes the role of auditing in raising operational efficiency among entities by improving spending efficiency, simplifying procedures, and directing resources towards strategic goals, alongside its oversight role in monitoring operations and managing risks.