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Elm Was Awarded “The Certificate of Compliance

with the International Standards of Internal Auditing”

Elm, the pioneer of digital solutions, received the Certificate of Compliance with the
International Standards of Internal Auditing from the Saudi Institute of Internal Auditors
(IIA SA), and obtained an "Optimizing" rating on the internal audit maturity scale.
Abdullah bin Saleh AlShubaili, the CEO of IIA SA, handed the certificate to the Vice
President of Internal Audit at Elm, Abdulaziz bin Abdullah Al-Hidery, in the presence of
the division's general managers. AlShubaili congratulated Elm for achieving an
advanced level of internal audit compliance with international standards, and applauded
the efforts of Elm's Internal Audit Division, which directly contributed to satisfying the
requirements of those standards.

For his part, Al- Hidery explained that meeting the international standards of internal
audit requires evaluating the company's audit activities by an external and independent
entity every five years. Accordingly, Elm's Audit Committee selected IIA SA to serve as
an independent external assessor for Elm's internal audit activities and processes. He
stressed that Elm will continue to work on meeting these standards to demonstrate its
capacity to foster quality improvement, independence, and objectivity in the long term.
It worth mentioning that according to the regulation issued by the Council of Ministers,
IIA SA seeks to develop the internal audit profession in the Kingdom by adhering to best
professional practices in accordance with the international framework for the
administrative practices of the internal audit profession issued by the Institute of Internal
Auditors (the IIA). IIA SA also aims to develop professional staff, and activate the

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