The General Court of Audit (GCA) has signed a memorandum of understanding (MoU) with Australian Institute of Internal Auditors (IIA) in Sydney, according to the Saudi Press Agency.
The MoU was signed by the GCA’s President, who is also the Chairman of the Board of Directors of the Saudi Institute of Internal Auditors, Dr. Hussam Alangari and IIA’s CEO Trish Hyde.
The agreement aims to boost bilateral cooperation between the two sides in internal auditing, governance, and compliance.
Additionally, the MoU was based on mutual trust, partnership, and adherence to international standards for internal auditing issued by the Institute of Internal Auditors.
In addition, the agreement noted the significance of exchanging expertise and information and improving the effectiveness of internal auditing practices, governance assessments, and compliance measures in both countries.
In the same context, Alangari stated that the current cooperation highlights the Kingdom’s leadership in internal auditing and its commitment to elevating the sector through international agreements.
He added that the agreement will strengthen cooperation between both countries’ regulatory bodies and facilitate the exchange of expertise and best practices.
In the light of this, the agreement will address challenges in financial, administrative, and operational auditing. Meanwhile, it will promote regulatory approaches and decrease disparities in auditing practices between the two countries.
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