The Institute of Internal Auditors (IIA) Qatar, hosted a seminar on the topic: “Mastering the Enterprise Risk Management (ERM) inside your organization” presented by Iyad Mourtada, Founder and Managing Director of OpenThinking in United Arab Emirates.
“It was great opportunity to share many risk management cases with more than 120 audit professionals in the Qatar event,” said Iyad who elaborated the concepts of Enterprise Risk Management (ERM) and ISO-31000 implementation in an interactive and creative way using videos, games, and case studies.
Iyad also focused on optimal risk taking as this is where the sweet spot of cost, risk and benefits are best suited for organization to achieve highest value. This is a midpoint between insufficient and excessive risk taking.
Fahad Al Marri, Senior Vice President, in his address stated: “This session indeed equipped the Internal Auditors to improve their consultation and facilitation efforts on ERM. Methodologies for risk reporting and communication matters most.”
“The IIA’s research document, the Core Competencies for Internal Auditor places ERM as the top ranked knowledge competency. Understanding ERM not only helps to effectively employ risk and control assessments but also aids auditors to align with the technique of risk based audit planning,” said Sundaresan Rajeswar, IIA Board member, who coordinated the event.
Girish Jain, Seminar Chair, introduced the speaker and Adel al Hashemi handed over a memento. Chris Adonis announced the plan to conduct interviews with top auditors for better understanding of knowledge requirements and current practices.
The Peninsula
