San Francisco, January 23, 2025 – The “From Riyadh to the World” initiative was held this week in San Francisco, California, marking a significant milestone in showcasing Saudi Arabia’s remarkable progress in the field of internal auditing. Organized by the Saudi Institute of Internal Auditors (IIA SA), the event aimed to enhance the Kingdom’s international profile, promote the exchange of professional experiences, and highlight Saudi Arabia’s innovative practices within the global auditing community.
The event featured a high-level delegation led by Abdullah Saleh Al-Shebeili, the Chief Executive of IIA SA, who met with the executive management of the IIA San Francisco. This gathering provided a platform for executives from various Saudi government agencies and major corporations in Silicon Valley to engage in meaningful dialogue, share insights, and explore potential avenues for collaboration in the auditing sector. The meeting served as an opportunity to demonstrate the Kingdom’s commitment to promoting transparency, accountability, and effective governance, both domestically and internationally.
One of the key highlights of the event was the presentation on Saudi Arabia’s internal auditing experiences, with a particular focus on the groundbreaking work being done by the Diriyah Gate Development Authority (DGDA). The DGDA, known for its ambitious and transformative projects, was showcased as an exemplary model for internal auditing practices. The authority has implemented comprehensive risk assessments to guide its strategic audit planning, ensuring that its projects align with the highest standards of governance and risk management. Additionally, DGDA has adopted cutting-edge auditing methodologies, including integrated auditing and advanced risk assessment techniques, which have significantly enhanced the effectiveness of its operations.
The discussions also highlighted the importance of continuous professional development in the internal auditing field, with a strong emphasis on training programs designed for both local and international audit staff. These programs are aimed at fostering a deeper understanding of internal auditing practices, ensuring that auditors remain equipped with the latest knowledge and skills to navigate complex challenges. The importance of fostering a supportive work environment was also underscored, as it plays a crucial role in improving performance and ensuring the long-term success of auditing initiatives.
Another focal point of the event was the role of internal auditing in supporting the strategic development of the Al Balad Development Company (BDC), a key player in the Kingdom’s urban development projects. The BDC’s internal audit function was presented as an example of proactive consulting, with audit teams identifying potential issues early and offering solutions before they could escalate into significant challenges. The risk assessment model used by BDC has allowed the company to prioritize its audit cycles effectively, ensuring that resources are allocated to the most critical areas. Additionally, the company’s use of advanced software and real-time monitoring tools has improved operational efficiency, aligning with the broader goal of achieving sustainable development.
The “From Riyadh to the World” initiative also celebrated the success of the IIA SA in positioning Saudi Arabia as a global leader in internal auditing. The Institute’s continued investment in the professional development of Saudi leaders has ensured that the Kingdom is represented on the global stage, with top Saudi professionals making significant contributions to international discussions and practices in auditing. This aligns with the Kingdom’s broader objectives of fostering global partnerships, enhancing governance practices, and contributing to the global economy.
Throughout the event, there was a strong emphasis on the role of modern technology in revolutionizing internal auditing. The discussions underscored how technology, such as advanced analytics and automated tools, can elevate auditing practices, improve performance quality, and enhance compliance with international standards. Moreover, technology plays a vital role in empowering governance and risk management teams, enabling them to align their efforts with the Kingdom’s broader goals of sustainable development, economic diversification, and transparency.
The success of the “From Riyadh to the World” initiative serves as a testament to Saudi Arabia’s commitment to leadership in the global internal auditing sector. According to the 2024 rankings by the Institute of Internal Auditors, IIA SA is now recognized among the top ten professional institutes worldwide, further solidifying the Kingdom’s position as a leader in promoting effective governance and risk management practices.
As Saudi Arabia continues to innovate and push the boundaries of internal auditing, the Kingdom’s contributions to global best practices will undoubtedly play a pivotal role in shaping the future of the industry, both regionally and internationally. The initiative not only strengthened Saudi Arabia’s international standing but also paved the way for further collaborations that will foster the exchange of knowledge and ideas across borders.
