“Monsha’at” Receives a Certificate of Excellence in Internal Audit with a Compliance Rate of 98%

Thursday 16 January 2025
“Monsha’at” Receives a Certificate of Excellence in Internal Audit with a Compliance Rate of 98%

The Small and Medium Enterprises General Authority, "Monsha’at" has been awarded the "Independent External Quality Assessment" certificate from the International Institute of Internal Auditors (IIA Global), represented by the Saudi Institute of Internal Auditors. “Monsha’at” achieved a 98% compliance rate with international standards for professional internal audit practices, earning the highest maturity level rates, “Optimizing,” for its internal audit activity.  This achievement aligns with the mandatory requirements of the International Professional Practices Framework (IPPF) issued by the Institute of Internal Auditors, including the International Standards for the Professional Practice of Internal Auditing and the Code of Ethics. These standards aimed at enhancing the skills and knowledge of internal auditors, thereby contributing to the improvement of governance, risk management, and internal controls.  The authority is committed to developing its services and striving for full compliance with the international professional framework for internal auditing practices and the principles and ethics of the profession to effectively contribute to its goals and meet the needs of stakeholders for assurance and consulting audit services.  The receipt of this certificate by "Monsha’at," with its highest ratings, reflects the role of the internal audit function in adhering to the provision of assurance and consulting services, enhancing governance, risk management, and control processes according to the highest global standards and practices, which help provide added value to the authority.

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latest changed date 25 February 2025

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