Abdul-Aziz Al-Ghurair, CEO of Mashreq Bank

Mashreq becomes first bank in UAE to receive accreditation from institute of internal auditors, USA

: Monday, July 07 - 2014 @ 14:26

Mashreq, one of the UAE’s leading financial institutions, announced that its Internal Audit function had been assessed to be in ‘Conformance’ with The IIA’s International Standards for the Professional Practice of Internal Auditing.

The Institute of Internal Auditors, USA (IIA – the parent body of Internal Audit world-wide) recently concluded an External Quality Assessment of the Internal Audit activity at Mashreq. Upon conclusion of the assessment, IIA Executives advised that Mashreq was the First Bank in UAE to achieve conformance with the standards.

Commenting on the announcement, Abdul-Aziz Al-Ghurair, CEO of Mashreq Bank, said, “This is a ground breaking milestone for Mashreq, ranking us amongst the top companies globally in this respect. In accordance with IIA standards, Mashreq also has an independent Quality Assurance team that conducts an ongoing internal quality assessment of the Audit function, to ensure standards are maintained. We believe sound audit methodology provides effective and necessary independent assurance to senior management, shareholders and stakeholders, and is a cornerstone of good governance.”

Mashreq recorded strong first quarter results in 2014 with 35% increase in its Net Profit, climbing to Dhs575mcompared to Dhs425m for the same period in 2013.

For more info please contact:
Huda Ismail
Public Relations
Tel: +9716083629
Email: [email protected]

Nssrin Khalil
Public Relations
Tel: +97146083836
Email: [email protected]

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Monday, July 7- 2014 @ 14:26 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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