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BIBF hosts an awareness session on new Global Internal Audit Standards

Manama, Bahrain – The Bahrain Institute of Banking and Finance (BIBF) recently hosted an awareness session on the new Global Internal Audit Standards (GIAS) in collaboration with the Bahrain Internal Auditors Association (BIAA). The event brought together industry professionals to discuss key updates in the field of internal auditing. The session was delivered by Mr. Arvind Benani, Country Managing Director at Protiviti; who provided insights into the evolution of internal audit practices and the transition from International Professional Practices Framework (IPPF) 2017 to the new GIAS 2024. The event was attended by senior audit executives and banking professionals keen to understand the impact of changes in internal audit standards. Discussions covered the key differences between IPPF 2017 and GIAS 2024, governance improvements, and compliance strategies. Experts also outlined practical steps for Chief Audit Executives (CAEs) to adapt to the new standards. The session underscored BIBF's commitment to equipping professionals with the expertise needed to navigate evolving financial regulations. Mr. Bassam Kazerooni, Acting Head of Banking & Finance Centre, added: 'With the evolving landscape of internal auditing, it is imperative that professionals stay ahead of these changes. The adoption of the new Global Internal Audit Standards (GIAS) presents new opportunities for enhancing audit governance, and this session was an important step in preparing Bahrain's financial sector for the transition.' On his part, Mr. Ali Sharif, President of Bahrain Internal Auditors Association (BIAA), stated: 'The introduction of GIAS 2024 marks a pivotal moment for the internal audit profession. These updated standards are designed to enhance audit quality, strengthen governance, and improve risk management practices. This session provided an excellent platform for auditors and financial professionals to gain a deeper understanding of these changes and prepare for a seamless transition.' -Ends- About the BIBF The Bahrain Institute of Banking and Finance (BIBF) is the leading provider of education and training in the region, established in 1981 under the Central Bank of Bahrain. With a commitment to enhancing human capital, the BIBF serves not only Bahrain but also extends its reach to 64 countries worldwide, solidifying its global presence. The BIBF is dedicated to delivering excellence across a broad spectrum of business disciplines. It partners with numerous international institutions to offer thought leadership, assessment, and training in key areas, including: Banking and Finance Islamic Banking Executive Education Accounting and Finance Academic Studies Leadership and Management Insurance Digital Transformation and Project Management For more information, please contact the Marketing and Corporate Communications Department at: Email: media@ Website: