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New IIA chapter in Oman to promote professional auditing

The Institute of Internal Auditors (IIA) has formed its Oman chapter under the sponsorship of Oman Air.

Oman Air aims at encouraging professional committees in the Sultanate, which have essential role in both public and private sectors. In this regard internal audit department of Oman Air has been the exam centre for certified internal audit exam since 2000, which is administered by the Florida-based Institute of Internal Auditors (IIA).

The IIA was established in 1941. It serves nearly 85,000 members in internal auditing, governance and internal control it audit, and education. IIA is the world’s leader in certification, education, research and technological guidance for the profession of internal audit. The institute serves as the professions supervisory body and resource on significant auditing issues around the globe.

The main aim of forming the IIA chapter in Oman is to create awareness of best auditing practice in the internal audit profession and to promote it as a profession in the country.

The chapter will provide immense benefits to the internal audit practitioners, executive management, board of directors and the government bodies with standards, guidance, and information, etc. President of IIA’s Oman chapter Mohammed Al Musafir said: “We aim to be the focal point for internal audit profession in the Sultanate of Oman.”

With the recent code of corporate governance for MSM-listed companies, internal auditors are expected to play a more challenging role in listed companies, therefore it is essential to have such a chapter in the country, which will promote the internal audit profession within Oman. Further the country requires more and more internal auditors to fulfil the current and future demands of public and private sectors.

The chapter will be administered and run by a board of governors and implement the IIA Inc. bylaws.

Elected board of governors includes Mohammed Al Musafir (president), Abdul Rahman Ahmed Al Harthy (vice-president), Juma Rashid Al Jahwari. (governor), Mohammed Salahudin (governor), Tahir Mahmood (treasurer) and Amal Khabori (secretary).

In addition to the board of governors, following are founding members of IIA Oman chapter:

Ravi Bhatt, Rizwan Patel, Abraham Varkey, Abdul Majeed Piroh Al Balushi, Amal Mohammed Al Balushi, Said Mohammed Al Jabri, Aisha Zahir Al Mawaly, Allaudin Ali Al Khatib, S. Ramamoorthy, Juma Rashid Al Jahwari and Osama Abduraheem Al Margali.

The chapter is planning to hold internal audit gatherings with members of the chapter. Members of the chapter will have the opportunity to meet and exchange ideas and update knowledge with top internal audit professionals in the area, this process is known as ‘Progress Through Sharing’. The chapter will have monthly programmes, seminars and other activities to benefit the members and broaden their scope of knowledge which will lead to proficiency in the modern internal auditing practices.

The members can take advantage of various benefits besides networking opportunities through the IIA, sharing knowledge with 85,000 members in more than 120 countries and territories. Such benefits include by not limited to voting rights, leadership opportunities in the IIA’s board of directors and 20 specialised volunteer committees, professional credibility through belonging to a global association, special discounts on all IIA Inc. products and services, access to members-only information and periodicals on www.theiia.org and opportunity to join speciality sections exclusively available to the members.

The board of governors has fixed a membership fee of RO15 per annum for normal membership and RO30 per annum for full membership. Members under full membership scheme will receive subscription to the Internal Auditor Journal for the whole year. More information on the chapter and membership can be had from the office of the president of IIA Oman chapter on Tel. 519127. The chapter will have its own library that will include the IIA research reports.

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