Page 182 - ELM- JANUARY & FEBRUARY 2023

1/20/23, 10:55 AM Elm Was Awarded The Certificate of Compliance
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 supervisory role of the

internal audit profession, to achieve the aspirations of the wise

Saudi leadership and keep abreast of developments in the

Kingdom.

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