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UAE Internal Audit Association emphasises need for regular ‘Quality Assessment’

United Arab Emirates: Thursday, February 03 - 2011 @ 10:34

According to Joscelyne, there is a greater need for quality assessments especially in the face of the recent financial crisis that has brought to light many cases of fraud and corruption globally; environmental disasters like BP’s oil spill; massive recall of products by companies because of defects or lack of quality; and increased scrutiny by stakeholders and NGOs. Internal Auditors have a great role to play in preventing such incidents through careful assessment of risk systems and control in place.

He spoke to a group of members, staff and officers, and guests of the UAE IAA who had gathered at the American University of Dubai. He highlighted the emergence of the Internal Auditors function as the third line of defense in organisations, the first line being the Risk Manager followed by the Chief Risk Officer.

“It is important to have regular quality assessments to identify opportunities and offer ideas and counsel for improving the performance of the internal audit activity; and to make sure of conformity to the international standards,” he said. “To implement a successful quality assessment strategy, it is important to introduce discipline across the IA function, communicate to all stakeholders the Internal Audit Activities’ commitment to quality, and reflect IIA standards in audit reports. It is also important to introduce the Quality Assurance and Improvement Programme (QAIP); provide quality assessment training to all staff; and look at quality as an investment, not an expense.”

The meeting was also held to honour 23 new Certified Internal Auditors (CIA) and candidates who successfully passed the certification requirements in Control Self- Assessment (CCSA). The new batch of CIAs and CCSAs were awarded their certificates by Abdulqader Obaid Ali, UAE IAA President; and Khalid Al Halyan, member of the Board of Governors.

Speaking at the meeting, Abdulqader Obaid Ali, the UAE IAA President, said, “We are very proud of our new CIAs and CCSAs; and as they embark on a new phase in their career, this is the perfect occasion to emphasise the importance of embracing a culture of quality. This will help raise the standards of professionalism in Internal Auditing and encourage company boards to recognise the importance of an Internal Auditor’s role and the value addition they bring to the table.”

IIA’s CIA programme is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the field of internal auditing. Candidates complete the program enriched with educational experience, information, and business tools that can be applied immediately in any organisation or business environment.

The CCSA is a specialty certification program designed for practitioners of control self-assessment (CSA). Individuals at any CSA experience level will benefit from this comprehensive programme. Gaining the required knowledge of areas such as risk and control models – often considered the realm of auditors only – exposes CSA practitioners from all backgrounds to concepts that are vital in effectively using CSA to help clients achieve their objectives.

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Thursday, February 3- 2011 @ 10:34 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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