The Banking Executive Magazine - March 2023 Issue

the BANKING EXECUTIVE 38 ISSUE 171 MARCH 2023 Arab Banks Gather for Successful COSO Framework Workshop in Cairo WUAB Events World Union of Arab Bankers (WUAB), in collaboration with PwC and the Federation of Egyptian Banks, held a workshop entitled "Ef- fective Implementation of COSO Framework in the Banking System" on the 15th and 16th of February 2023 at the Conrad Hotel & Resort in Cairo-Egypt. The event was attended by more than 180 participants from the Egyptian and Arab banking sec- tor, including Board Members, Audit Committee Members, CEO and Ex- ecutive Management, Financial Re- porting Management, Internal Audit Department, Internal Control Depart- ment, and Risk and Compliance Managers. The two-day workshop focused on the practical implementation of the COSO Framework in the banking system. The COSO framework is a widely recognized internal control framework used to assess, design, and implement internal controls within an organization to ensure ef- fective risk management. The work- shop aimed to help banks improve their internal control systems, en- hance their risk management prac- tices, and meet regulatory requirements. The workshop was conducted by presenters from PwC who have ex- tensive knowledge and experience in implementing COSO Framework in the banking industry. They discussed various topics related to COSO Framework, including CBE (Central Bank of Egypt) Expectations, Report-