Chief Audit Executives Conference Ends Today
The first Chief Audit Executives (CAEs) Conference held in Atlantis The Palm, Dubai will end today, April 7, 2011.
The activities for the first or the two-day conference started with a panel discussion about effective relationships between the Audit Committee and the Chief Audit Executive.
National Bank of Abu Dhabi General Manager & Group Chief Audit Officer Malcolm Walker gave the first talk and spoke about internal audit’s failings, the new challenges facing internal audit in the financial services sector and the opportunities for the function to become a partner that adds value to their organisation.
Larry Hubbard, Larry Hubbard & Associates founder, followed and tackled the roles of a CAE as the “keeper of the cube” (the COSO cube).
A breakout session on what’s in and what’s next in the chief audit executive’s role in risk management ended the day with the subtopics: IA focus in 2011 and beyond, ERM Model – COSO or ISO 31000 (or any other), IA skill-sets, lessons learnt after the financial crisis and corporate frauds and educating management and audit committees about ERM.
The second day started with a talk on risk consolidation by Saudi Aramco General Auditor Khalid Faddagh. His presentation highlighted the ERM team’s lessons learned from the assessment process and suggested practical ways for full implementation.
Roderick Winters, Microsoft Corporation Finance Operations General Manager and Joe Ioculano, Mubadala Group Head of Internal Audit and Audit Committee Secretary followed with the topic: Opportunities Outside for the CAE and the Return Thereafter.
Majid Al Futtaim CAE Basil Hantouli gave the last presentation for the conference by discussing a topic about improving dialogue about risk between directors and management.
According to UAE Internal Audit Association President Abdulqader Obaid Ali, the conference will set the trend for a unique forum that offers Chief Audit Executives (CAEs), Audit Directors, and Senior Managers an overview of trends, challenges and critical issues facing the frontline of the internal audit profession.