UAE Internal Auditors Conference Calls for Tech Adoption, Emirati Youth Engagement

DUBAI, 8th March 2022 – The 20th Annual Regional Audit Conference (ARAC), the largest intellectual gathering for internal auditors hosted by the UAE Internal Auditors Association (UAE IAA), issued a resounding call for the adoption of technology within the auditing profession and encouraged young Emiratis to pursue careers in internal auditing.

Abdulqader Obeid Ali, Chairman of the UAE IAA, set the tone for the three-day conference by emphasizing the pivotal role of technology in driving the economy and the auditing industry forward. "Technology is our biggest asset; we either use it, or we won't be able to move forward," he stated. "Today, it powers the economy. Data is the fuel of the future. With technology, we will be able to provide our clients with much better reports, and with the help of artificial intelligence, we can become a trusted advisor."

Abdulqader also highlighted the evolving nature of the internal auditor's role, acknowledging the transformative impact of the pandemic as a catalyst for the digitalization of the profession. "The role of internal auditors has not changed, but has evolved and transformed. That is why we have chosen the theme 'Revolution and transformation in internal audit.' The pandemic has, in some ways, become a catalyst for the digitalization of the profession. We, internal auditors, are agents of change, and by introducing technology, we can do our jobs more efficiently and effectively."

In addition to advocating for technological integration, the conference also aimed to inspire and engage the next generation of Emirati professionals. Abdulqader encouraged Emirati youth to consider internal auditing as a promising career path, highlighting the UAE IAA's efforts through the HASAAD program, which has already graduated 105 young individuals. "We are now working to move forward, and our goal is to graduate 500 young people and help them choose a career in internal audit," he affirmed.

The conference featured a diverse array of speakers and experts, including American writer and former stockbroker Jordan Belfort, who enthralled the audience with his insights on effective sales, negotiation techniques, and risk management strategies for business success.

Additionally, former President of the European Confederation of Internal Audit Institutions (ECIIA), Henrik Stein, addressed the participants on the theme "Continuation and innovation: A challenge for the development of internal audit in a highly regulated environment," shedding light on the evolving landscape of auditing in a complex regulatory environment.

In a captivating session, Terry Cutler, CEO of Cyology Labs Canada and an ethical hacker, unveiled "The inside secrets of how hackers get into the system and why," providing valuable insights into cybersecurity best practices and vulnerabilities. Cutler, recognized as a leading authority in the field of cybersecurity, offered attendees an in-depth understanding of the ever-evolving threats and the measures required to safeguard against them.

As the auditing profession continues to navigate the digital age, the 20th Annual Regional Audit Conference served as a clarion call for embracing technology, fostering innovation, and cultivating the next generation of skilled auditors. By combining cutting-edge tools, industry expertise, and a commitment to nurturing talent, the UAE's auditing community is poised to play a pivotal role in ensuring transparency, accountability, and risk mitigation across various sectors.