KUWAIT: Kuwait Internal Auditors Association and IIA Kuwait Chapter announced the launch and initiation of membership registration for the internal audit professionals in Kuwait in accordance with the regulations of the Ministry of Social Affairs. The Association has been setup as a platform to support and enhance the professions of internal audit, risk, governance and compliance in Kuwait. The launch event was sponsored by Protiviti Member Firm for the MENA region, in the presence of host of dignitaries and audit professionals across various sectors.
With the launch, Kuwait Internal Auditors Association joins a network of more than 100 international affiliates across 170+ countries with more than 185,000 members worldwide. It is expected to provide an opportunity to network with fellow Internal Audit professionals and other related professions. The Chairman of the Board Mansour Shashtari, along with the Board members presented the mission and objectives of the Association and emphasized the importance of this body to the Kuwait economy and the profession.
Furthermore, he stated “This is indeed a very significant milestone for us as we formally announce the Kuwait Internal Auditors Association. I would like to thank all our colleagues and the Ministry of Social Affairs for taking an active interest and providing us with all the support in making this a possibility. He added: “The association will work towards advancement of internal auditors and dynamically promote, develop and elevate the profession and related professions of Control, Risk management, Governance and Compliance in Kuwait.”
Further, Kuwait Internal Auditors Association’s chairman invites everyone to join the association and participate in its future activities. The association is open to be sponsored by any consultancy firm in its upcoming events. Speaking at the occasion, Sanjay Rajagopalan, Managing Director – Protiviti responsible for Internal Audit and Financial Advisory Services for the MENA region, stated: “We are delighted to be the sponsors in the launch of this Association and look forward to the elevation of the Internal Audit profession in the State of Kuwait. We will continue our support and work together with all the members and sectors in Kuwait for enhancing corporate governance practices”.
Kuwait Internal Auditors Association (IIA Kuwait Chapter) aims to:
- Meet and communicate with professionals working in the related regulatory professions to exchange experiences.
- Support and emphasize the auditing professions in general and the internal audit profession in particular in the State of Kuwait.
- Develop these professions by all means in order to increase their effectiveness and efficiency in the State of Kuwait while applying international standards.
Furthermore, the association aims to promote best practices in corporate governance, risk management and internal control through:
- Refine members’ experiences and urge them to follow global best practices.
- Help and Support members to obtain international professional certificates through developing training materials and cooperating with local, Arab and international scientific and professional bodies in this regard.
- Contribute to spread awareness by providing regular training, organizing workshops, seminars, annual conferences and attracting prominent speakers from different parts of the world to exchange experiences and knowledge in order to enhance the profession within the business community.
- Support the official authorities in reviewing laws’ drafts related to the profession and studying the current laws in the country and making proposals and recommendations on them in accordance with international standards and best practices.
- Establish alliances with the relevant authorities, institutes and bodies. Furthermore, cooperate and coordinate with similar Arab and international associations and relevant bodies to exchange knowledge related to the profession and develop the profession.