Validating a niche role in running of a successful business
KUWAIT CITY, May 20: Burgan Bank, a dynamic financial institution, recently celebrated the role of the Internal Audit department to raise awareness about the profession and reward outstanding personnel. As part of its many positive initiatives to support internal growth and inspire progression among its employees, the month-long event saw a series of activities led by the internal audit function leaders.
Run by the Institute of Internal Auditors (IIA), the annual International Awareness Month of Internal Audit that is observed every May promotes the importance of Internal Auditing. It gives members of the Internal Audit profession an enhanced opportunity to advocate for the profession within their organizations and in their communities. Internal Audit employees participated in the engagement held by their department.
The respective staff who recently attained professional certifications were also awarded for their contributions, as the department moves to continuously improve the quality and value it provides to Burgan Bank Board and Executive Management.
The bank continues to advance local talent and equip them with relevant and specialized skill sets. Adding value and advancing an organization’s business operations, internal audit as a profession has evolved over the years to become a powerful tool in accomplishing the bank’s objectives.
Governing bodies and top management entrust the internal audit to provide objective assurance and insight on the effectiveness and efficiency of governance, risk management and internal control processes. Now considered an analytical engine that leads the organizations through evaluation and use of latest technologies, potential opportunities, determining best solutions by studying global issues, one of its primary functions also includes strategic advisory across all levels.
Adopting Audit Analytics, continuous auditing and predictive analysis has changed the reactive approach of the internal audit with timely reporting and detection of exceptions and/or frauds. “We as internal audit professionals play an important role in raising awareness, elevating our profession’s position in the smooth running of banking operations. The aim is not only to clear any misperceptions about the profession, but also to enhance the business community’s understanding of the essential part internal auditing performs in ensuring strong organizational governance, internal control, and effective risk management. Contributing towards raising Burgan Bank’s profile locally and regionally, we follow the highest standards of efficiency and transparency in compliance with the laws and banking regulations and policies, and through such events, we are able to further reiterate the critical standards we abide by,” said Amr El Kasaby, Group Chief Internal Audit of Burgan Bank during the interactive event.
Driven by its long-standing belief that ‘People come first’, Burgan Bank aims to promote the significant role each department is bestowed in the assurance of a successful business. As a growing financial powerhouse and contributor to progress in society, the bank continues to adopt innovative methods of sharing knowledge and enriching its employees’ growth and development through impactful platforms.