Hawkamah and The IMF Host Central Bank Governance Forum Focusing on Audit Oversight and Assurance Mechanisms
Hawkamah and The IMF Host Central Bank Governance Forum Focusing on Audit Oversight and Assurance Mechanisms
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Dubai, UAE - Hawkamah Institute for Corporate Governance with the International Monetary Fund (IMF) organized a 2-day high-level forum on central bank governance: audit oversight and assurance mechanisms at the DIFC Conference Center on 8-9 December 2014. Hawkamah and the IMF have brought together central bankers and auditors from 43 countries across the globe. This high-level forum was held to bring together central bankers and their auditors to discuss the core issues related to central bank governance, audit and risk management practices. The forum also provided a platform for a cross-regional dialogue and peer exchange on the evolving role of audit committees’ oversight, the increasing expectations of the assurance function of these committees, the interaction with, and role of, internal audit functions, and the importance of high quality external audit. Welcoming the delegates at the Forum, Dr. Ashraf Gamal, CEO of Hawkamah Institute for Corporate Governance said “Central Banks play a critical role in ensuring the stability of a country’s financial system, therefore, effective governance of Central Banks is of prime importance. In broad terms, effective governance of the Central Bank requires clearly defined objectives, due autonomy and authority, transparency, accountability and close alignment of objectives and incentives in order for it to carry out its functions and responsibilities. The Forum organized today provides a platform for the Central Bankers and Auditors across the globe to discuss and debate the aspects of Central Bank governance and leading governance, audit and assurance practices. Hawkamah is pleased to partner with the IMF on this occasion”. The discussions over the two days confirmed that effective governance should continue to be a high priority for central banks. Mr. Simon Bradbury, Chief Accountant at the IMF, said: "Audit committees play a key role in their oversight of the internal and external audit processes at central banks and the overall system of controls. They are an important enabler for maintaining strong controls and high quality assurance mechanisms at central banks and have a critical responsibility to ensure the central banks' boards and senior management take appropriate actions that support effective governance." Countries participating in this Forum included - Albania, Armenia, Bosnia and Herzegovina, Belarus, Cameroon, Cyprus, Djibouti, Eastern Caribbean, Gambia, Ghana, Greece, Germany, Haiti, Hungary, Ireland, Ivory Coast, Jordan, Kenya, Lesotho, Malawi, Madagascar, Moldova, Morocco, Mozambique, Mauritius, Poland, Romania, Rwanda, Senegal, Seychelles, South Sudan, Tajikistan, Tanzania, Tunisia, Uganda, USA, Ukraine, Yemen, Zambia, South Africa, Pakistan and UAE.

Testimonials

  • ‘’There was no doubt that once we communicate with Hawkamah for a workshop, we were sure that we will achieve our goals and get an added value. And thats what happened; we got a lot of positive feedback from participants which confirms the success of the company secretary 2 days workshop which took place in Manama – Bahrain as well as the fruitful feedback on the knowledgeable and insightful trainers and experts. We would be more than happy to have such cooperations in the future since we consider Hawkamah our patterner in success’’

    Faisal Al-Modlij - GM, Corporate Affairs and Governance - Sipchem KSA

  • "We extend our thanks and appreciation to Hawkamah institute for its cooperation and the effectiveness of the Director Development Program"

    Saeed Al Kaabi - Abu Dhabi Monitoring and Controlling Centre(ADMCC)

  • "The Director Development Program was very rich in useful information and added a lot to us, and the trainers’ experience, skills and capabilities had positive impact on delivering the information to us in a direct and clear manner"

    Hamad Al - Tamimi - Osool Asset Management

  • The corporate Governance in all type of entities adds morality and ensures implementation of the best practices to fulfill the responsibilities of those entities and to ensure the rights of all parties involved, especially those who have no authority to participate in the decision-making cycle.

    Hawkamah institute contributed to enrich the knowledge of these responsibilities and the role of governance for the success of institutional work in accordance with principles that establish values and ethics.

    Ajman Municipality

  • '‘Excellent, well delivered, informative program presented by well-seasoned trainers. The training program has helped transform and empower the Board’s vision and focus our minds on the relevant issues at hand. We sincerely thank you for the training sessions which helped broaden our perspective and decision making processes. We strongly recommend this training to elevate directors to the next level".

    Bank of Maldives

  • "I would like to thank Hawkamah for the ESG Reporting training , I found the two days ESG Reporting training very informative and helpful and I have definitely received some tools that I will use in my work"

    Rania Zaatari - Head of Makassed Communal Healthcare Bureau

  • "The DDP provides a solid foundation of corporate governance for existing and aspiring directors."

    David Haglund - Senior Executive Director and Portfolio Manager of the Templeton Frontier and MENA Market strategies

  • “Thank you so much for sharing such insightful webinar. It was great and valuable to all participate”

    Shady Rashed - Senior Economic Researcher at The Ministry of International Cooperation of Egypt

  • “Good session and very well organized on the webinar about How to buffer and lessen the impact of the novel Covid – 19, to maintain business sustainability with Hawkamah - AUB / Makhzoumi” 

    Bilal Hamade - Executive Advisor

  • "One of the best webinars I attended. Well done OSB Makhzoumi and Hawkamah”

    Fida Kanaan – Director – Executive education  OSB AUB

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