Abu-Ghazaleh Inaugurates the Launch of the Jordanian Internal Audit Association

With the attendance of President of Jordan Audit Bureau

Abu-Ghazaleh Inaugurates the Launch of the Jordanian Internal Audit Association

AMMAN --- October 12, 2015 ---HE Dr. Talal Abu-Ghazaleh, chairman of Talal Abu-Ghazaleh Organization (TAG-Org),patronized the ceremony of launching the Jordanian Internal Audit Association, and the seminar on the latest international professional updates in the field of practicing the internal audit profession.

The event took place at the premises of Talal Abu-Ghazaleh Knowledge Forum with the presence of President of Jordan Audit Bureau HE Dr. Mustafa Al Barari, and President of the Association’s Founding Assembly Mr. Hisham Al-Shawa, in addition to a group of stakeholders, accountants, and auditors from various sectors.

Dr. Abu-Ghazaleh stressed that the establishment of the Association is an initiative that emphasizes the importance of the internal audit profession, pointing out the interconnection between internal and external audit, and the need for coordination with the Association in the future through a memorandum of understanding.

He also expressed his gratitude to the Association’s stakeholders for its future impact on the profession, highlighting the significant role played by the President of the Audit Bureau HE Dr. Mustafa Al Barari who developed the profession through his solid standings.

Abu-Ghazaleh added that the development in information and communication technology sector affected the profession which is no longer as it was before and will not remain as it is now explaining that within a maximum period of 20 years there will be internal and external auditor in a new form: a “technical auditor”. This is because anything that relates to the profession will be applied through information technology.

According to the expectations of HE, the future of the internal audit would be better if the firms become aware and convinced of the importance of contracting with internal auditors, whether they were employees of the company or through outsourcing firms.

For his part, HE Dr. Al Barari expressed his profound thanks to the Excellency of Dr. Talal Abu Ghazaleh for his continuous support to this profession and its professionals, at the local, Arab and International levels through his Organization that served the local, Arab and international economy.

He also stressed that the establishment of the Association had become an urgent need to have a professional body that would mobilize efforts in the field of internal and external audit due to profession’s critical role and significant impact on the economy as it represents the first line of defense in preserving public funds and corporations’ assets, decisions, governance and progress in the right track as per the vision of His Majesty King Abdulla II, may Allah bless and protect him.

He also promised that memorandums of understanding will be signed with the Association to train the government servants through the Arab Jordanian Institute of Internal Auditors.

The Assembly’s President Mr. Hisham Al-Shawa revealed that the idea of establishing the Association as a professional organization to represent the profession of internal audit and to work on promoting it started as an initiative by a group of young professionals who were aware of its importance and by believers in its mission to become home for all workers in internal audit, internal control, good governance and risk management.

He also pointed out that the importance of the Association lies in the fact that it works on supporting and developing the profession of internal audit though all means in order to achieve the effective development and high quality in the business and economy sector in Jordan in line with the vision of HM King Abdulla II.

He explained that the Association will organize the First Jordanian Internal Audit Conference in 2016, which will be the first of its kind in Jordan, and will enjoy a regional and international attendance in order to exchange experiences and stand on the latest developments in the profession.

During the ceremony, President of the Association Mr. Hisham Al-Shawa presented memorial shields to the ceremony patron HE Dr. Talal Abu Ghazaleh and the President of the Audit Bureau and the ceremonys guest HE Dr. Mustafa Al Barari.