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Internal Audit community helps growth of corporate governance and economic development .

Internal audit is assuming greater importance in better corporate governance and growth of the private and public sector companies which directly boost economic development of the country, members of the UAE Internal Auditors’ Association (UAE IAA) were told.

Addressing members at the Annual General Meeting (AGM) of UAE IAA, Association chairman Abdulqader Obaid Ali said that the audit standard in the UAE has risen to global levels owing to the constant efforts of the UAE chapter which is affiliated to the global body, the Institute of Internal Auditors (IIA).

During the AGM, two new members, Dr. Hanan Al Marzooqi, Governance & Compliance Director, General Directorate of Residency and Foreigners Affairs in Dubai, and Ms. Dana Al Yazeedi, Internal Audit Director, Department of Education and Knowledge in Abu Dhabi, were elected to the Board of Governors of UAE IAA.

UAE IAA, a non-profit organisation of internal auditors, was set up in 1995 along the lines of its parent body, the Institute of Internal Auditors (IIA Global) with 200,000 members from more than 190 countries and organizations. The UAE accounts for about 45% of the total number of internal auditors working in the region, estimated at about 7,000 auditors, of which 22% are Emiratis.

The new members are elected to the board as two board members stepped down on the expiry of their term. The members are elected for a two-year term.

The Governing Board consists of nine members, headed by Abdulqader Obaid Ali as chairman.

The other members on the Governing Board are: Khalid Al Halyan: Vice Chairman’ Dr. Hanan Al Marzooqi: Treasurer; Dana Al Yazeedi: Board Secretary; Ali Al Muwaijei: Ayesha bin Lootah, Ayyoub Al Marzouqi, Mohamed Al Harthi, and Naeima Al Menhali, all board members.

“The two new members on the board bring in vast experience and talent in their chosen field which will immensely benefit the Association in its efforts to broaden its activities for the economic development of the UAE,” said Abdulqader.

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