The Banking Executive Magazine - November 2024

WUAB Forum • Leveraging Emerging Technologies for Internal Audit Efficiency: The forum explored how technolo- gies like artificial intelligence, data analytics, and automation are rev- olutionizing the internal audit landscape. • Internal Audit Role in ESG and Sustainability Auditing: Participants discussed the growing importance of environmental, so- cial, and governance (ESG) factors and how internal audit functions can ensure accountability in sus- tainability initiatives. • The Future of Governance, Risk, and Compliance (GRC): Thought leaders provided a for- ward-looking perspective on the evolution of GRC practices in re- sponse to global challenges and regulatory shifts. • Strategic Navigators in Uncharted Waters: This session examined the transfor- mative role of internal audit across varying levels of risk maturity, of- fering strategies for navigating complex risk environments. • Internal Audit Quality Assurance and Continuous Improvements: Speakers presented best practices for maintaining and enhancing the quality of internal audit processes. • Building Digital Trust: Auditing Cybersecurity and Data Privacy: With digital threats on the rise, this session emphasized the importance of building trust through robust Cybersecurity and data privacy auditing. A PLATFORM FOR KNOWLEDGE SHARING AND NETWORKING The forum’s structure facilitated not only the dissemination of cutting- edge knowledge but also meaningful interactions among participants. Each session was designed to pro- vide actionable insights, with case studies and real-world examples un- derscoring the practical relevance of the discussions. Attendees had the opportunity to engage directly with speakers, fostering an interactive and collaborative learning environment. Networking opportunities were abundant, with breaks, lunches, and evening receptions allowing partici- pants to connect with peers and in- dustry leaders. These interactions underscored the forum’s role as a premier platform for professionals to exchange ideas, share experiences, and forge valuable relationships. OVERVIEW OF THE FORUM’S OBJECTIVES AND IMPACT As the banking sector continues to navigate a rapidly changing environ- ment, the need for robust internal audit, risk management, and compli- ance practices has never been greater. This forum, titled “Future- Ready Banking: Auditing, Risk, and Compliance for a New Era,” aimed to equip participants with the tools and knowledge necessary to strengthen governance and resilience within their organizations. the BANKING EXECUTIVE 50 ISSUE 190 NOVEMBER 2024 Dr. Wissam Fattouh, Secretary General, Union of Arab Banks and World Union of Arab Bankers