His Excellency President of the General Court of Audit (GCA) and Chairman of the Board of the Saudi Authority of Internal Auditors Dr. Hussam Alangari signed a memorandum of understanding (MoU) with the Institute of Internal Auditors Malaysia, represented by its Chairperson of the Board, Suhailah Mohamed Abdulla, in the Malaysian capital, Kuala Lumpur.

The MoU aims to enhance cooperation between the two parties in the areas of internal audit, governance, and compliance. Based on principles of mutual trust and partnership, the MoU aligns with the basic provisions and international standards for internal auditing issued by the Institute of Internal Auditors (IIA), and emphasizes the importance of exchanging expertise in the field, enhancing professional effectiveness in the areas of internal audit, and evaluating governance and compliance in accordance with the laws and regulations of both countries according to the available resources.

His Excellency President of the General Court of Audit and SAIA's Chairman of the Board affirmed that the signing of the MoU embodies the pioneering and leading role of the Kingdom in the field of internal auditing, through the establishment of international agreements and memoranda that contribute to accelerating the sector's overall development and growth. He pointed out that this MoU aims to enhance cooperation between the regulatory bodies in the two countries, ensure the exchange of experiences and best practices in the field of internal auditing, strengthen the ability to face challenges at all levels, unify the regulatory approaches, and reduce the disparity in the internal audit application between the two sides.

Mr. Abdullah Saleh Al-Shebeili, the CEO of the Saudi Authority for Internal Auditors, indicated that signing this type of agreement supports the application of governance and compliance, and contributes to the exchange of information about the policies and procedures followed between both sides. He added that it provides greater opportunities for joint training programs between different establishments, which helps develop the skills of internal auditors at the international level, and encourages interaction with diverse experiences that contribute to enriching the auditors’ knowledge.

It is worth mentioning that the MoU supports cooperation in several areas, including internal audit standards, governance and compliance; relevant professional principles; research and activities related to internal auditing, working papers, rules and methodologies; qualification tests for certification; raising awareness of the various activities of the profession; exchanging information and publications, research, experiences and advice; exchanging visits between experts and specialists; and organizing joint conferences, seminars and training programs.