MAG_AP_Q2-2017_V6

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ACCESS POINT <strong>MAG</strong>AZINE - JULY <strong>2017</strong> - ISSUE # 003 Embracing the benefits “ Internal auditing is an independent, objective assurance and consulting a It helps an organization accomplish its objectives by bringing a systemat management, control, an I met Mr. Mohamed Hafez a short while after joinining Ali & Sons. And found his job always fascinating and I took the opporunity to enqruie about the dynamics of his job as a Group Chief Audit Executive. He was not shy of providing all information needed and more: What is internal audit all about? The role of internal audit is to provide independent assurance that an organization’s risk management, governance and internal control processes are operating effectively. The internal audit profession, through the Institute of the Internal Auditors* (IIA) has continued to redefine itself as a business risk and organizational complexity has evolved. Today, the IIA uses the following definition: Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an Organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. *The Institute of Internal Auditors (IIA) is established in 1941, as an international professional association with global headquarters in Lake Mary, Florida, USA. The IIA is the internal audit profession’s global voice, recognized authority, acknowledged leader, chief advocate and principal educator. What do internal auditors do? At its simplest, internal auditing involves identifying the risks that could keep an organization from achieving its goals, making sure the organization’s leaders know about these risks and proactively recommending improvements to help reduce the risks. Internal Auditors have a professional duty to provide an unbiased and objective view. We must be independent of the operations we evaluate and report to the highest level in an yorganization: senior managers and governors. Typically this is the board of directors or the audit committee. For internal auditing to be effective, the organization’s leaders must be open to discussing tough issues and seizing opportunities to make necessary changes for improvement. The internal auditors must also have an independent reporting line to the highest governing body (e.g., the audit committee of the board of directors), ensuring them the requisite authority to access all areas of the organization and know that they will be supported if and when their views differ from those of management. What is its value to the organization? Internal auditors’ deal with issues that are fundamentally important to the survival and prosperity of any organization. Unlike external auditors, we look beyond financial risks and statements to consider wider issues such as the organization’s reputation, growth, its impact on the environment and the way it treats its employees. In summary, Internal Auditors help organizations to succeed. We do this through a combination of assurance and consulting. The assurance part of our work involves telling managers and governors how well the systems and processes designed to keep the organization on track are working. Then, we offer consulting help to improve those systems and processes where necessary. 31
Views & Aspirations of Internal Auditing ctivity designed to add value and improve an organization’s operations. ” ic, disciplined approach to evaluate and improve the effectiveness of risk d governance processes. Mohamed Hafez - Group Chief Audit Executive • (1994) Bachelor of Commerce-Accounting major- Mansoura University. • (1998) Post Graduated diploma- Financial Accounting major Mansoura University. • (May 1999) Chartered Accountant and Auditor Egyptian license # 14605. • (May 2004) Certified Internal Auditor ( CIA) (Certificate No. 48282) • ( Jan 2006 ) Member of the Egyptian Society of Tax. 32
Page 1 and 2: ACCESS JULY 2017 - ISSUE # 003 POI
Page 3 and 4: MESSAGE FROM THE GMD Shamis bin
Page 5 and 6: TABLE OF CONTENT 5 EVENTS & NEWS 29
Page 7 and 8: CONGRATULATIONS PORSCHE TEAM 6
Page 9 and 10: & ENTS
Page 11 and 12: EVENTS & NEWS ASC won 2nd runner up
Page 13 and 14: EVENTS & NEWS A quarterly HSE campa
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Page 23 and 24: EVENTS & NEWS in the Volkswagen Mid
Page 25 and 26: EVENTS & NEWS Ali & Sons Al Ain win
Page 27 and 28: EVENTS & NEWS Now in its 27th year,
Page 29 and 30: CORPORATE SOCIAL RESPONSIBILITY 28
Page 31: THAT’S INTERESTING T.I. * Video s
Page 35 and 36: Views & Aspirations ic of team work
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Page 39 and 40: VIEWS & ASPIRATIONS 6. Planned Expe
Page 41 and 42: Digital Connections Skoda Device Ap
Page 43: UPCOMING EVENTS SARUQ AL-HADID MUSE

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