Al Fares is a speaker at the 6th Internal Audit Conference

Alinma Bank Managing Director and CEO, Mr. Abdulmohsen Al-Fares, was a featured speaker at this year’s 6th Internal Audit Conference, which was held recently in Riyadh.  Al-Fares participated on a panel entitled “Internal Audit: Between Reality and Expectations” where he drew upon his 30 years of corporate experience to help clarify important issues related to the integrity, efficiency, and the critical role the internal audit function plays.

Speaking on the panel, Al-Fares lauded the kingdom’s audit professionals for bringing Saudi Arabia so far in a relatively short period of time over the last few decades.  Al-Fares, however, also pointed to the need for more rapid development and transformation and highlighted the qualitative shift in the internal audit function that is  currently underway.  This shift, he said, was being driven by technological advancement, the move to more tightly managed performance and objective planning, and the need to consistently and effectively address corruption. He noted that progress would be made through the inculcation of self-monitoring as well as the establishment of sufficient audit controls, policies, and procedures.

The conference was part of the efforts of The Saudi Institute of Internal Auditors to develop the internal audit profession in the Kingdom of Saudi Arabia. And to contribute effectively to the promotion of transparency and performance in various establishments and the development of specialized professional competencies.

It is worth mentioning that The Saudi Institute of Internal Auditors (IIA Saudi Arabia) was established by the Council of Ministers Resolution No. (84) of 25/3/1432 which is a professional association with a non-profit corporate body operating under the supervision of the Ministry of Commerce and Investment. (IIA Saudi Arabia)aims to develop the internal audit profession in the Kingdom. (IIA Saudi Arabia) was granted full membership in the International Institute of Internal Auditors in 2012.