UAE Internal Auditors Association Launches 5th Cycle Of Leading Practices In IA Award
Award open to both government and private sectors
The UAE Internal Auditors Association (UAE-IAA) has launched the fifth cycle of the Leading Practices in Internal Audit (LPIA) 2020.
The 2020 award is open to all internal audit departments in the UAE. The award aims to recognize the processes of the Internal Audit departments that enabled them to excel in implementing the practices and standards to ensure effective and efficient performances when compared to other organizations.
“Through this award, the UAE IAA aims to pursue excellence in processes by recognising Internal Audit departments Leading Practices. We also aim to encourage organizations through their IA activity to challenge their approaches for better management of processes,” said Abdulqader Obaid Ali, Chairman of the board of the UAE-IAA.
The Mission of the Award is to encourage organizations through their IA activity to challenge their approaches for better management of processes; To share with the business community successful practices for a better governed business community; and to create awareness of IA profession amongst smaller business entities.
“We expect a wider participation of organizations, both government and private, this time around that will instill a spirit of competition to excel in their chosen categories which will ultimately result in enhanced efficiencies. 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,” he added.
Entries to this year’s award will be in three categories -- Governance, Risks & Control (GRC), Information Technology and Fraud. The award criteria comprise Purpose, Planning, People, Process and Performance. Entries are through self-nomination and participants can nominate for more than one category. The entries are open to all government departments and private sector (including semi-government and government owned entities). Winners will be selected by an independent jury consisting of respected professionals. The Awards will be presented at the 20th Annual Regional Audit Conference (ARAC) hosted by the UAE Internal Auditors Association (UAE IAA) at the Dubai World Trade Centre (DWTC) from April 12 to 14, 2020 under the theme “Future Technology Shaping Internal Audit.”
The overall winner in the Government Sector last year was the General Directorate of Residency and Foreigners Affairs (GDRFA), Dubai. The overall winner in the private sector was Etisalat. Roads & Transport Authority (RTA) was the winner in the GRC Category, Dubai Police in IT category and the Ministry of Human Resources and Emiratization in the Fraud category in the government sector. In the private sector, Boubyan Bank, Kuwait won the award in the GRC category and ADNOC was awarded in IT category.
The constitution of the award is pursuant to the issuance of a law by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, 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.
Further details about the award/best practices programme can be reviewed from https://www.uaeiaa.org/about-the-award.htm
