The Islamic Military Counter-Terrorism Coalition (IMCTC), held at its headquarters in Riyadh, on Tuesday, June 7, 2022, a presentation titled: “Importance of Internal Audit and its Added Value,” delivered by HE, Abdul-Aziz bin Saleh Al-Furaih, Senior advisor to the Saudi Minister of Finance and Chairman of the Ministry of Finance’s Steering committee, in the presence of IMCTC Secretary-General and personnel.
His Excellency pointed out that the Internal Audit is an independent and objective activity that provides assurance and advisory services to add value to the entity and enhance its processes. This activity helps achieve the entity’s objectives through a methodical approach to evaluate and improve the effectiveness of governance processes, risk management, and oversight. Additionally, the speaker discussed oversight roles and the functioning of internal audit that underpin the proper functioning of organizations.
For his part, IMCTC Secretary-General commented internal audit as one of the most vital pillars of IMCTC’s governance framework. He added that Internal Audit plays an oversight role as a source of high-value information and concluded that governance effectiveness in any organization depends on the quality and efficiency of the services conducted by the internal audit.