Friday 30 September 2022

Internal audit ‘key to addressing business risk’

DOHA, June 4, 2015

Internal audit plays a critical role in addressing issues such as business risk, governance, globalization and technology currently facing companies, said an industry expert.

“Many businesses are not yet leveraging the full potential of business continuity,” said Fadi Sidani, partner and enterprise risk services leader at Deloitte Middle East, a provider of audit, tax, consulting, and financial advisory services.

“However, internal audit can play a prime role in turning business continuity into a real driver of change, and as a way to measure and improve processes and operational efficiency. It can be a true value creator.”

“Just as the business landscape is changing and becoming increasingly complex, so Internal Audit is moving toward leveraging advanced business analytic techniques to provide deeper insights,” explained Sidani.

“Data visualization tools are a compelling way to deliver results more dynamically in response to risk, explore organizational data on a deeper level, and deliver acute fact-based insights.”

Sidani was speaking at the recent fifth National Internal Audit Conference held in Doha, Qatar under the theme ‘Auditing Matters’ hosted by the Institute of Internal Auditors (IIA) Qatar Chapter.

The event, which was sponsored by Deloitte, drew more than 30 international speakers to present a full programme of speaking sessions, panel discussions, workshops and training.

Each day was dedicated to a specific theme, with day one focused on ‘Internal Audit’s role in enhancing the control environment’, followed by ‘Internal Audit’s role in assessing Risk Management and the Control Activities’ on day two, and ‘Internal Audit’s role in assessing information and communication’ on day three.

Sessions also explored a value driven Internal Audit of Business Continuity and Disaster Discovery programs, discussed the role of Audit in Business Continuity Management Systems (BCMS), a value driven approach to focus on what matters, and effective evaluation of BCMS performance. – TradeArabia News Service

Tags: business continuity | Deloitte | Internal audit |

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