Agreement inked for development and advancement of internal auditors in Oman

MUSCAT: The IIA (Institute of Internal Auditors) Oman Chapter, under the sponsorship of the College of Banking and Financial Studies (CBFS), signed a one-year MoU with Protiviti Member Firm in Oman to closely work together in advancing the professions of governance and risk management through effective internal audit.

The objective of the agreement is to collaborate on various technical and knowledge partnership initiatives that will contribute towards the development and advancement of internal auditors in Oman.

Muneer Al Mughairy, President of the IIA Oman Chapter said, “The agreement comes within the IIA Oman Chapter’s plan to emphasise on the crucial role of internal audit in both the public and private sectors with a strong focus on educating and upskilling national cadres. It will also strengthen stakeholders’ understanding of the value that internal audit brings to their organisations.” He further added, “The internal audit practitioners in Oman play a vital role in supporting the government through public and private companies in realising 2040 Vision by providing assurance and consultancy activities on the risk management and corporate governance aspects across all the programmes, milestones and goals of the vision.”

Internal audit professionals will continuously review the effectiveness and efficiencies of the programmes and provide assurance that they are aligned with each other, and clear accountabilities and responsibilities have been articulated.

Shatha Al Maskiry, Country Managing Director, Protiviti said, “This MoU is special to us as the sole purpose is to serve the internal audit community by providing insights on how to become more innovative and explore new technologies. At the same time, also become more aware of emerging risks and how to develop creative solutions to complex business challenges.”