Entries open in three categories – Governance, Risks & Control, Information Technology and Fraud
Dubai: The UAE Internal Auditors Association (UAE-IAA), has rebranded its best practices award as the Leading Practices in Internal Audit (LPIA) as the coveted recognition initiative enters its fourth cycle.
The 2019 award is open to all internal audit departments. The award aims to appreciate Internal Audit departments that go the extra mile to implement the practices and standards to ensure effective and efficient performances when compared to other organizations.
The official Institute of International Internal Auditors (IIA) affiliate in the UAE, the UAE-IAA was set up in July 1995 and it presently has over 1,500 members, over 20 per cent of whom are Emirati citizens.
Through this award, the UAE-IAA aims to encourage Internal Audit departments to improve and enhance their activities by learning from those who have been successful. The Association is working towards encouraging organizations through their IA activity to challenge their approaches for better management of processes, share with the business community successful practices for a better governed business community and create awareness of IA profession amongst the smaller business entities. Entries to this year’s award will be three categories- Governance, Risks & Control, Information Technology and Fraud. The Award criteria comprises Purpose, Planning, People, Process and Performance.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, had issued a law on Dubai Government Financial Regulation in 2016, which requires all government entities to set up an internal audit unit as a part of efforts toward promoting greater fiscal transparency.
Abdulqader Obaid Ali, President of the UAE-IAA, said at a Press Conference in Dubai today: “As the UAE economy grows stronger each passing year, the country’s leadership has remained focussed on good governance practices in governance and business. The UAE-IAA, by facilitating implementation of best practices in internal auditing, will further help organisations transform their overall performance. The award’s branding as The Leading Practices in Internal Audit (LPIA) is a necessary step towards moving into the future with confidence.”
Further details about the award/best practices programme can be had from https://www.uaeiaa.org/about-the-award.htm
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