The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing domain jointly.
Abdulqader Obaid Ali, Chairman of the Board of UAE Internal Auditors Association, and Abdullah Saleh Al-Shebeili, CEO of the Saudi Internal Auditors Association, signed the agreement.
Media reports said the agreement aims to develop a framework for corporate governance to enhance investor confidence; establish strategic alliances with regulatory and legislative authorities; develop the internal audit profession, provide expertise and specializations, and work to localize it in the two countries.
The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in the preparation and organizing of internal audit conferences; exchange of experiences in quality assurance; training under the HASAAD Development Programme; joint nomination of speakers at specialized conferences in the two countries, and other areas of cooperation.
Abdulqader Ali said, “This will raise the capabilities of internal auditors in the two countries to advanced levels to keep pace with the challenges facing the profession and comply with professional standards.”
Abdullah Al-Shebeili said, “We are pleased to sign this agreement, which comes in response to the aspirations of the leadership of the two countries to deepen and enhance joint cooperation in various fields, given the growing interest in the internal audit profession in Saudi Arabia and the UAE parallel to their level of development and prosperity experienced.”