Naeima Mohammed Al Menhali

Director of Audit & Compliance shares her views on internal auditing in higher education institutions In an exclusive interview, Internal Auditor – Middle East spoke to Naeima Al Menhali who is Director of Audit & Compliance at The Petroleum Institute in Abu Dhabi. (now a part of Khalifa University of Science and Technology) She began her…

Tips to Avoid Fraud in Small Enterprises

According to the results of the study which was prepared by the Association of Certified Fraud Examiners (“ACFE”) and issued in 2014, enterprises with fewer than 100 employees were more likely to have fraud cases reported to the ACFE. The total losses from fraud in large enterprises were slightly higher than the total losses of…

Auditocalypse now?

Social media today… A large consultancy publishes a report regarding internal audit – sharks sense blood, and start circling around the profession. They have even prepared their writings for our gravestone as a profession, it seems.  And everyone has the solution for “fixing” internal audit. There is a catch, though, they will charge you for…

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Challenges Facing the Future of Internal Auditing

Over the last few years, technological developments have begun to accelerate if compared to previous decades, and their impact on the distant future may be far greater than currently expected. We have begun to see unmanned vehicles based on artificial intelligence, aircraft vehicles, high-speed trains, 3D printing and self-operated factories without human intervention, as they…

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Future and Challenges of Family Businesses

Family Businesses have been the traditional way of doing private projects in most countries of the world; and have acquired a great consideration in recent years as one of the means and forms of doing private projects. There are several reasons to attract attention to Family Businesses, including the following: • The role of socialist systems in political and economic life has diminished…

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My Internal Auditor is My Internal Consultant

  The Institute of Internal Auditors (IIA) define internal auditing as ‘independent, objective assurance and consulting activity designed to add value and improve an organization’s operations’. It helps an organization to accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control,and governance processes. In most cases The internal audit function has substantially changed in…

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VAT! HOW INTERNAL AUDIT CAN HELP!

OVERVIEW By now, majority of the audit community is already aware that UAE, as well as other GCC countries will start implementing Value Added Tax (VAT) effective 1st of January, 2018. Rest of the GCC countries will follow by January 2019. A Federal Tax Authority (FTA) has been established to govern, manage the implementation process, collect federal taxes and apply the tax-related procedures. The…

Are your organization’s IT control systems reliable?

  There is no doubt that all small, medium and large organizations have Information systems, whether computerized or manual. These systems are used for processing the data and extract a large amount of useful information which represent a main source for decision-making inside and outside the organization. The information systems must be highly reliable. To…