Abu-Ghazaleh: Internal Audit is a Strategic Partner of Modern Management in the Knowledge Era

AMMAN -  Upon an invitation from HE Mr. Abdulqader Obaid Ali, chairman of the UAE Internal Auditors Association,  HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global (TAG.Global) participated in the ‘9th International Conference of Chief Audit Executives’, which was virtually held under the patronage of HE Mr. Abdullah bin Touq al-Marri, UAE Minister of Economy.

In his address as a keynote speaker, Dr. Abu-Ghazaleh expressed his pride in participating the conference, describing it as a great opportunity to communicate and interact with pioneers and leaders of the audit profession.

He also affirmed that internal audit is considered a strategic partner of modern management in the Knowledge era, which drives this profession to embrace advanced technologies to keep pace with the rapid advancements in work tracks around the world.  

He also pointed out that TAG.Global has a special technical team that works on creating a ‘Tech Auditor’ software which will be more effective in detecting errors and irregularities, based on the international standards of accounting and auditing. Dr. Abu-Ghazaleh also affirmed that competition between audit companies and offices will be based on the quality of their smart audit software, which will transform the ‘auditor’ into a ‘technical expert’ who assesses the outputs of the program by providing observations, conclusions and recommendations.

Meanwhile, Dr. Abu-Ghazaleh stressed that the ‘Auditor’ is considered an assistant or part of the administration for the purpose of improving the system in a company, institution or a state in general, assuring the necessity of making internal auditors knowledgeable with modern technical tools as well as to be fully aware in Internet usages alongside transforming the internal auditor from a traditional auditor to an Informational Technology (IT) expert. 

Dr. Abu-Ghazaleh pointed out that Talal Abu-Ghazaleh Global (TAG.Global), is proud of the fact that  since its establishment it has never been convicted of committing professional, administrative or legal violations by any court around the world, affirming that TAG.Global is committed to carrying out its operations in accordance with the highest international and internal standards that TAG.Global has been developing through a special expert appointed for this purpose in a position entitled TAGI Internal Control Standard Director. 

Dr. Abu-Ghazaleh also affirmed that the knowledge era requires financial and audit standards, especially for the knowledge-based companies and products.

For this purpose, Dr. Abu-Ghazaleh called for forming a multilateral task force in the United Nations to review the requirements of accounting, auditing, reporting and evaluation in the knowledge era.

In his speech during the conference which was attended by a host of concerned experts in the audit profession, Dr. Abu-Ghazaleh also tackled a number of professional related aspects and proposals.

It is worth mentioning that Dr. Abu-Ghazaleh has assumed several international professional leadership positions on boards of directors including:

•Member of the Board, International Federation of Accountants Council (IFAC) – New York
•Member of the Board, International Accounting Standards Committee (IASC) – New York
•Member of the World Trade Organization (WTO) Panel on Defining the Future of Trade - Geneva
•Chair of the International Chamber of Commerce Task Force (ICC TF) on Internet Governance – France
•Board of Advisors, Middle East Council of the Center for Strategic & International Studies (CSIS) – USA
•Member of the Board, International Financial Reporting Standards (IFRS) – USA
•Member of the Board, International Auditing Practices Committee (IAPC) of IFAC – USA
•Board of Governors, Keck Center for International Strategic Studies – USA
•Vice-Chair of the United Nations for Information and Communication Technology (UN ICT Task Force) - New York
•Chair of the Business Action to Support the Information Society (BASIS), International – France
•Chair of the Board of Directors, UN Global Compact (UNGC) – New York
•Chair of the Committee of experts mandated by the United Nations Secretary General to draft the International Accounting Standards for Environmental Accountability – New York
•Chair of the United Nations for the Development of Accounting Education – New York
•Co-chair of the UN Global Network on Promoting Digital Technologies for Sustainable Urbanization – USA
•Chair of the United Nations Global Alliance for ICT and Development (UNGAID) – New York
•Chair of the Board of Directors, UN Global Compact (UNGC) – New York
•Chair of the Working Group on Human Resources and Capacity Building (HRCB) of the United Nations Information and Communications Technologies, (UN ICT TF) – New York
•Chair of tֺhe Arab Regional Network of the United Nations Information and Communication Technologies Task Force – New York
•Chair of the Working Group on Human Resources and Capacity Building (HRCB) of the United Nations Information and Communications Technologies, (UN ICT TF) – New York
•Chair of the United Nations Committee of Experts on Professional Qualifications Standards – Geneva
•Chair of the United Nations for the Development of Accounting Education – New York
•Chair of the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (UNISAR) – New York
•Chair of the International Arab Society of Certified Accountants (IASCA) – New York