The Institute of Internal Auditors Malaysia (IIA Malaysia), body responsible for the internal audit profession in the country hosted the Asian Confederation of Institutes of Internal Auditors (ACIIA) Conference 2018 at the Kuala Lumpur Convention Centre.
The two-day regional conference gathered policy makers, industry leaders, board members and internal audit professionals from across the region to discuss the growing importance of internal auditors’ role in understanding and learning digital advancements.
“The Institute aspires to empower internal auditors to adapt and utilise innovative technologies stay abreast in the age of digitalisation.
“Together with ACIIA, we continue to elevate the profile of internal auditors and set the tone for effective governance, risk and control that adds value to the organisations in Asia,” said chairman of ACIIA Conference 2018, Philip Satish Rao.
The conference aimed to raise technological awareness within the profession and challenge internal auditors to be more proactive and efficient in identifying and communicating digital risks in a fast-evolving business environment.
Naohiro Mouri, chairman of IIA Global who delivered his keynote address titled ‘Emphasise the Basics, Elevate the Standards’ laid down the essential basics that could help organisations identify risks and discover opportunities as they get attuned to a fast-paced digital environment.
“As technology keep us at the edge of our seats, it is important to take a step back and look at the landscape from a macro point of view, to come to the conclusion that for a business environment to remain competitive, it must first adapt to the rapid technological advancements.
“The next step is to synergise technology with the business to educate the Audit Committees and Board Members, to thereon improve the oversight of internal audit functions,” said Mouri.
With technology such as Artificial Intelligence (AI), robotic process automation and advanced analytics having a direct impact on internal audit, there is an urgent need to address the increasing technology skills gap in the internal audit profession and prepare them for the tech-driven business environment.
“To stay relevant and safeguard the eminent role of the profession, we, the internal auditors of today and tomorrow need to be digital-savvy and technically competent to manage digital risks and to provide valuable insights to the organisations.
“Internal auditors now need to arm themselves with knowledge and new skills, sound business acumen, emotional intelligence, data analytics, relationship management, communication skills, and so much more, to be effective in this new reality,” added Philip.
Themed ‘Staying Relevant in A Digital Landscape’, the ACIIA Conference 2018 was officiated by Naohiro Mouri and witnessed by over 1,200 participants from private and public-sector organisations throughout the region.
The conference was organised by IIA Malaysia and the key sponsors were ACL Services (Platinum), Ernst & Young (Silver), Tenaga Nasional Berhad (Silver), UMW (Silver), TeamMate Asia Pacific (Silver), Deloitte (Bronze) and PETRONAS (Bronze).
