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Internal Control Institute

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The importance of the conference

The forum, in its fifteenth edition, convened to discuss the role of boards of directors in managing internal audit activities in light of newly updated principles and standards for auditing governance functions. It also explored the role of audit activities in digital services and artificial intelligence, as well as the auditing of an institution’s culture and environment.
Given the rapid developments in the business environment, digital services, and artificial intelligence, along with institutions’ efforts to evolve their methods and techniques, it has become imperative for regulatory and professional bodies to update their systems, laws, and standards to keep pace with these changes. Consequently, the Institute of Internal Auditors (IIA) issued a new version of the standards in January 2024, necessitating that audit departments prepare for the Implementation of these standards and enhance their procedures and techniques accordingly, in alignment with best practices in areas such as IT auditing, corporate culture, and supply chains.
A series of workshops and practical experiences will be offered, focusing on the application of artificial intelligence in internal auditing and the auditing of social responsibility. The forum will also present proposals and solutions through discussion sessions that will review working papers presented by numerous experts practicing in the field of internal auditing

objectives

  • Providing participants with an understanding of the governance of the internal audit function and its impact on achieving added value. Informing participants about the role of internal auditing in educating audit committees and boards of directors on regulatory matters.
  • Discussing the role of the internal audit committee in the evolution of internal audit management. Introducing participants to audit processes beyond the firewall.
  • Developing participants' capabilities in auditing within the context of digital transformation and artificial intelligence applications. Discussing the challenges faced by internal audit departments in the face of technological transformation.
  • Informing participants about the key amendments to the Internal Audit Standards issued by the IIA for 2024 and preparing them for the implementation of these new standards. Providing participants with the skills for cultural and social responsibility auditing.
  • Discussing strategies for addressing the talent gap in internal audit management. Engaging participants in contemporary issues in internal auditing and presenting relevant studies. Presenting practical experiences in internal audit issues by specialized experts.

Target audiences

- Managers of internal audit and their assistants - Chief auditors - Members of audit committees - Internal auditors - Internal control managers and their assistants - Risk managers & their assistants - Regulatory unit officials and employees

Speakers

Agenda

Monday - 23 / September / 2024

The First Topic: Governance Principles of Internal Audit and the Role of Boards of Directors in Light of Principles and Standards:

Th First paper: Governance of the internal audit function according to new standards and its impact on leading internal auditing towards achieving added value.
The Second: The role of the internal audit manager in educating audit committees and boards of directors on governance, control, and risk, and its reflection on developing the efficiency of internal auditing.
The Third paper: Legislative governance and its impact on developing the role of audit committees in enhancing the efficiency of internal auditing in achieving its objectives.
Case Discussion: The impact of governance regulations issued by central banks on enhancing the role of audit committees.
The Fourth paper: How audit committees work to transition internal auditing to advanced technologies in light of technological advancements and digital transformation.
Panel Discussion: Discussing the role of the audit committee in guiding internal auditing and providing necessary support to audit management
Practical Experience: Educating the board of directors and audit committee on governance and risks.
Tuesday - 24 / September / 2024

The Second Topic: Evolution of Internal Audit Activity in the Digital Age and Artificial Intelligence

The Fifth paper: Auditing processes beyond the firewall – Human Intruders (Social Engineering).
The Sixth paper: Challenges facing internal audit departments in the era of digital finance and how to deal with them.
The Seventh paper: Internal auditing and merging technologies.
Discussion of Study: Presentation of the results of a study measuring the extent to which new standards keep up with developments in business and technology.
Workshop: Application of artificial intelligence in internal auditing.
Panel Discussion: Discussion of the dilemmas facing internal audit departments in keeping up with rapid technological advancements.
Wednesday - 25 / September / 2024

The Third Topic: Role of Internal Audit in Auditing Corporate Culture and Supply Chains

The Eighth paper: Key amendments made to international standards in their new 2024 edition.
The Ninth paper: The role of internal auditing in auditing the corporate environment and culture and social responsibility.
Practical Experience: Auditing social responsibility.
The Tenth paper: Agility in auditing supply chains.
Panel Discussion:: What is required from internal audit departments to prepare for the application of new standards?
Panel Discussion:: How to address the required talent gap in internal audit management?
The Closing session: Discussion of forum recommendations and certificate distribution.

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