Awards

About Award

Rebranding the Best Practice Award as the “Leading Practices in Internal Audit Award” the UAE IAA is pleased to annouce the launch of its 5th cycle for 2020.

The award aims to appreciate Internal Audit departments that go the extra mile to implement practices and standards to ensure effective & efficient performances when compared to other organizations.

Through this award the UAE Internal Auditors Association aims to encourage Internal Audit departments to improve and enhance their activities by learning from those who have been successful.

Vision

To pursue excellence in processes by recognizing Internal Audit departments Best Practice.

 

Mission

  • To encourage organizations through their IA activity to challenge their approaches for better management of processes.
  • To share with the business community successful practices for a better governed business community.
  • To create awareness of IA profession amongst smaller business entities.

How do I Participate?

  • Fill the “Intention to Participate” form. https://www.surveymonkey.com/r/KR5Z7P6 (TBA)
  • Nominating one Best Practice per category. (TBA)
  • Participation in one or more category is permitted.
  • 750 words per criteria or 4,000 words max. per Best Practice submission.
  • All documents must be submitted in soft-copy format only.

Shortlisting Process

  • Independent panel to shortlist based on the original submissions.
  • Informing shortlisted submissions. (TBA)
  • Submission of presentations to UAE IAA. (TBA)

Adjudication Process

  • Finalists will be required to present their best practice on (TBA)
  • 12 mins max. for each presentation. (will be confirmed via email to the finalists)
  • Winners will be selected by an independent jury team consisting of respected professionals.

How many submissions can I participate with?

  • One per category, effectively 3 (one in each category)

Award Sectors

  • Government
  • Private (including semi-government and government owned entities).

Award Categories

  • Governance, Risks & Controls.
  • IT & Cyber Crime.
  • Fraud.

Award Criteria

%

Purpose

Constantly adding value for stakeholders by not only understanding, but also by anticipating their needs and expectations is a challenge. Fulfilling them brings numerous challenges which need to be overcome. The IA activity, although independent is always aligned with the organization to enable it to achieve its goals and objectives.

Building upon existing processes to improve its effectiveness and increase efficiency is needed to enable address any situation which may impede the organizations progress.

  • Analyzing operational performance to determine the need to enhance processes.
  • Analyzing risks, consider strengths and opportunities, new methods and technology.
  • Inspiring a culture of change and innovation within the IA activity.

%

Planning

Policies, plan and goals are central to implementing any change. They must also be strategy focused keeping the stakeholders in mind and developed and deployed to enable realize the mission and vision of the organization.

  • Understanding of stakeholder needs and expectations.
  • Understanding future requirements of the organization/IA activity.
  • Updating policies and procedures, communicating them to all concerned stakeholders.
  • Determining potential impact on the business.

%

People

%

Leaders

Leaders create sustainable and competitive organizations and act as role models for others to follow. They strive to achieve and deliver the impossible. They are empathetic and react in a timely manner to enable the success of the organization and its stakeholders.

  • Developing and communicating Mission, Vision, Goals, Objectives and KPIs for the IA activity (short and long-term).
  • Implementing policies, procedures and processes to enable the delivery of the IA activity’s strategy.
  • Engaging with the stakeholders, as appropriate (other than Audit Committee, Board and Management).
  • Monitoring and reviewing the IA activity progress on a periodic basis and take remedial measures as appropriate.
  • Leading by example in pursuing appropriate credentials such as QIAL, CIA, etc.

%

IA Staff

 People drive organizations to greater heights. The IA activity fosters the creativity of the employees and enables nurture their professional and personal development.

  • Developing people’s knowledge and capabilities.
  • Demonstrating integrity and people are empowered, rewarded and cared for.
  • Demonstrating people are trained, competent, objective, proactive and insightful.
  • Engaging people in knowledge-sharing.

%

Process

 Good governance is demonstrated by adopting a disciplined and systematic approach. Innovative approaches pave the way for increased efficiencies. Embracing technology and incorporating innovative approaches systematically within the functioning of the IA activity requires patience and a pragmatic approach.

  • Embedding innovation as a culture within the IA activity.
  • Enabling the use of technology to become more efficient and future-focused.
  • Enabling flexibility and adaptability within the processes.
  • Complying with the IPPF including consideration to implementing the Implementation Guidance.
  • Documenting the processes including their periodic review and revision (on need basis).

%

Performance (for the organization and IA activity)

%

Effectiveness

Measures could include (but not limited to):

  • Tangible cost savings for department and organization
  • Stakeholder perception
  • Performance against budget
  • Performance against KPIs
  • Monitoring of process parameters
  • Number of consulting assignments

%

Efficiency

Measures could include (but not limited to):

  • Audit cycle time
  • Effective utilization of IA resources
  • Benchmarking results
  • Use of Computer-Assisted Auditing Techniques (CAATs) and Data Analytics

%

People Result

 Measures could include (but not limited to):

  • Competency and performance management activities
  • Training and career development activities
  • Employee satisfaction
  • Emiratization

Brochures and Forms

Guidelines and Award Model Details. LPIAGuidelines-Rev1.pdf

Form A – Organization Details.

2020FormAOrganizationDetailsRev0.docx

Please contact awards@uaeiaa.org for details

Winners

2020 Winners

Overall Winner – Government Sector

Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA) 

Overall Winner – Private Sector

DP World

 

Category Winners

Government

GRC: Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA) 

IT: Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA)

Fraud: Ministry of Human Resources and Emiratization

 

Private

GRC: Abu Dhabi National Oil Company (ADNOC)

IT: DP World

Fraud: Ajman Bank

2020 Winners

Overall Winner – Government Sector

Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA) 

Overall Winner – Private Sector

DP World

 

Category Winners

Government

GRC: Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA) 

IT: Dubai Aviation City Corporation – Group of Internal Audit & Risk Assessment (GIARA)

Fraud: Ministry of Human Resources and Emiratization

 

Private

GRC: Abu Dhabi National Oil Company (ADNOC)

IT: DP World

Fraud: Ajman Bank

2019 Winners

Overall Winner – Government Sector

General Directorate of Residency and Foreigners Affairs (GDRFA), Dubai

Overall Winner – Private Sector

Etisalat

Category Winners

Government

GRC: Roads & Transport Authority

IT: Dubai Police

Fraud: Ministry of Human Resources and Emiratization

 

Private

GRC: Boubyan Bank, Kuwait

IT: ADNOC

Fraud: None

2017 Winners

Overall Winner – Government Sector

Dubai Aviation City Corporation (GIARA)

Overall Winner – Private Sector

Mashreq

Category Winners

Government

GRC: Roads & Transport Authority

IT: None

Fraud: Dubai Aviation City Corporation (GIARA)

Private

GRC: DP World and Etisalat UAE

IT: Mashreq

Fraud: DP World

2016 Winners

Overall Winner – Government Sector

Roads & Transport Authority

Overall Winner – Private Sector

None

 

Category Winners

Government

GRC: Roads & Transport Authority

IT: The Petroleum Institute

Fraud: Roads & Transport Authority

 

Private

GRC: Sharjah Islamic Bank

IT: Mubadala

Fraud: Dubai Holding

2015 Winners

Overall Winner – Government Sector

General Directorate of Residency & Foreign Affairs

Overall Winner – Private Sector

Etisalat UAE

Category Winners

Government

GRC: Roads & Transport Authority

IT & Cyber Crime: Roads & Transport Authority

Fraud: Roads & Transport Authority

 

Private

GRC: Sharjah Islamic Bank

IT & Cyber Crime: Mashreq Bank

Fraud: Mashreq Bank