Major Retail Store Risks and How Best to Control Them

The 2014 Global Retail Development Index1, issued by A.T. Kearney, indicated that gross domestic product of the Middle East will continue growing, which will bolster consumer confidence. Further, upcoming monumental events, such as Expo2020 in Dubai and Football World Cup 2022 in Qatar, will have a positive impact on the retail sector. There are other…

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IA Risk

Managing the Risks Facing the Internal Audit Department

Most articles written about internal audit and risk management focus on internal audit’s role in ensuring the effective management of risk within the first and second lines of defense. Little attention is given to managing risk within the third line itself.   Ask any Chief Audit Executive (CAE) for the Risk Register of his Internal…

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Cont Auditing

The Increasing Relevance of Continuous Auditing

This article seeks to explain some of the key concepts of Continuous Auditing, some important benefits as well as do’s and don’ts, so as to get you to start thinking about introducing Continuous Auditing initiatives in your organizations.   For several years now, management experts have been emphasizing the following key attributes of organizations of…

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Auditing Ethics

Ethics is the foundation of any successful organization and internal audit has a key role to play by auditing the organization’s ethical program.   Introduction Ethics is all about behavior, choices and doing what is right. Internationally there have been developments around ethics and how organizations handle this. Many multinational companies have, over the past…

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Family Business Governance

A family business refers to a company where the voting majority is in the hands of the controlling family. Several studies have shown that family owned companies out perform their non-family counterparts in terms of sales, profits and other growth measures.1  Some of their strengths include commitment from family as business owners, willingness to pass…

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Increasing the Perceived Value of Risk Management

The integration of enterprise risk management and operational risk management roles is bound to lead to more effective risk management.   Based on my experience in the Middle East region, the ERM concept is relatively new and many business owners have difficulties in understanding the role of the ERM function. I recently noted a perceived…

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modern risk based

Modern Risk-Based Internal Auditing

Norman Marks, one of the most highly regarded thought leaders in the global profession of internal auditing, explains how companies in the Middle East can add more value to their stakeholders by applying a modern risk-based approach to internal audit planning.   I remember talking to an internal audit leader for whom I have great…

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Conversations with Colleagues: Salem Sultan Al Dhaheri

A prominent board and audit committee member shares his views on internal auditing and meeting the expectations of the audit committee   In an exclusive interview, Internal Auditor – Middle East spoke to Salem Sultan Al Dhaheri, CPA, who is the Deputy Director of Internal Audit at the Abu Dhabi Investment Authority (ADIA). Salem has…

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