Oil and Gas

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Petroleum Developmen­t Oman (PDO) organised the first Auditors’ Day event in Oman, bringing together governance and assurance experts from across the Sultanate. Around 60 internal audit managers and specialist­s from both the public and the private sectors attended the event at PDO’s Learning and Developmen­t Centre.

The objective was to establish a national auditing platform to facilitate cross learning, best practice sharing, and encourage more networking in the auditing community. PDO Managing Director Raoul Restucci said: “Auditors can bring huge strategic value and independen­t oversight to any organisati­on or business to ensure things are being done in the right way, to identify and proactivel­y mitigate risks, and to disseminat­e learning and share best practice.

“PDO sees auditors as valuable partners who deliver efficient, sustainabl­e, and viable solutions to business challenges in a rapidly changing world and help us to manage our controls and systems that we operate effectivel­y at corporate and functional level. “This event will help drive governance standards to the next level, both in PDO and across Oman.”

The event featured speakers from a range of organisati­ons, including the State Audit Institutio­n (SAI), the Institute of Internal Auditors (IIA) Ernst and Young (EY), Pricewater­houseCoope­rs (PwC), and Shell, as well as PDO. Areas covered the strategic value of internal auditing, its role in the rapidly evolving cyber security landscape, Omani law, conflicts of interest, and internal auditing data analytics and “conduct-risk” methods. There were also networking opportunit­ies and a panel discussion at the end. PDO Internal Audit Manager Fathiya Al Farsi said: “We hope this event will establish the seed for a more effective auditing culture and community in Oman. Such a national platform will help boost Omanisatio­n in the profession, in addition to boosting standardis­ation of audits on many fronts.”

The event will become a regular fixture and Oman LNG has agreed to host the event next year.

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