The annual Regional Audit Conference in Dubai calls for the adoption of technology to stay afloat.

Conference in Dubai

DUBAI, 8th March, 2022 (WAM) — The 20th Annual Regional Audit Conference (ARAC), the largest intellectual conference for internal auditors hosted by the UAE Internal Auditors Association (UAE IAA), called for the adoption of technology and encouraged young Emiratis to choose internal audit as their profession.

Opening the three-day conference, UAE IAA Chairman Abdulqader Obeid Ali said: “Technology is our biggest asset, we use it or we won’t be able to move forward. 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.”

He added: “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.”

Abdulqader also encouraged Emirati youth to choose internal audit as their career path.

“We at UAE IAA have started a special program, the HASAAD program, and have graduated 105 young people. 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.”

American writer, author of The Real Wolf of Wall Street, motivational speaker and former stockbroker Jordan Belfort gave a talk titled “Using Risk to Make Your Business and Life More Efficient”. He enthralled the audience with his knowledge of effective sales and negotiation techniques for closing deals.

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”.

Cyology Labs Canada CEO and ethical hacker Terry Cutler hosted a session on “The inside secrets of how hackers get into the system and why”. Participants were able to learn a lot about cybersecurity from Terry Cutler, who was recognized as the best authority in the field of cybersecurity.

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