Pulse Of Internal Audit Survey – Saudi Arabia 2023

Executive Summary

Protiviti partnered with the Saudi Institute of Internal Auditors to shed light on recent Internal Audit trends in KSA. The report enables the IA fraternity and relevant stakeholders to understand how IA functions are adapting to drive innovation, build resilience and manage risks.

The research report assesses internal audit practices in Saudi Arabia for compliance with international standards and regulatory requirements, uncovers emerging risks, identifies areas for improvement and provides insights to audit committees for enhancing oversight and governance.

Key highlights:

• ERM, ESG, and AML related audits are gaining traction among organizations.
• Audit Committee leaders encourage internal audit functions to innovate and explore new ways of delivery.
• Governance oversight by the audit committee has evolved to a more mature state, with 71% agreeing that they add value and provide adequate governance oversight.
• 26% of organizations do not consider IT audits as part of their internal audit plan and 44% do not have personnel with IT expertise.
• Internal Audit functions will benefit from including IT related audits and staff with IT and cybersecurity expertise in their annual plans.

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English Version  Arabic Version