ALRAQABA . ISSUE 20 15 to integrity, accountability, transparency, and in making relevant recommendations. The forum included a panel discussion in which speakers in the field of internal audit actively participated. Among the presenters were Director of Internal Audit & Enterprise Risk Management at PwC, Husam Samara; Vice President of the Kuwait Internal Auditors Association, Walid Al-Saeed; Executive partner at the office of TGS Al-Essa and Partners, a legal auditor, Abdullah Al-Essa; Executive Director of Risk Consulting at Deloitte Consulting, Fadi Berjawi; Head of the Internal Audit Team of the Petrochemical Industry Unit at the Kuwait Petroleum Corporation, Fatima AlAli, and the Middle East Risk Services Officer at Al-Bazie & Partners, Rami Wadie. SAB was represented by Raheel Al-Marai - Auditor at the Internal Audit Department. It should be noted that SAB established the Internal Audit Department in 2017. It is an independent audit department that reports directly to the President of SAB and has full and unlimited audit powers. The goal of establishing the Internal Audit Department is to tighten control over financial and administrative actions, and to make relevant recommendations to present SAB’s outputs with utmost efficiency. The Department also developed an annual plan that includes oversight tasks to examine SAB’s jobs. It carries out its functions based on the international standards for internal auditing. It verifies the procedures carried out by SAB sectors, provided that they are in line with evidence, decisions, and circulars. Al-Mazroi: Consolidating Governance Principles and Etablishing Preventive Control Mechanism During his speech at the opening of the forum, the Undersecretary of SAB, Mr. Yousef Al-Mazroi, stressed the importance of consolidating the principles of governance and contributing to the development of preventive control mechanisms. That is to contribute in predicting upcoming events and develop proactive methods and necessary means to confront issues. Al-Mazroi added that many variables, at all levels, have resulted in economic effects, which require cooperation to address them. SAB is keen to develop prospects for cooperation with the entities under its control to help regularize financial and accounting work. Article Feature
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