Annual Conference 2024
The IIA Singapore Annual Conference, themed "Embracing Change, Elevating Impact", took place on 24 October 2024, at Marina Bay Sands, Sands Expo & Convention Centre, attracting over 250 participants from Singapore and the region.
The conference commenced with a welcome address from IIA Singapore President Stephen Ching, who emphasised the evolving role of internal audit in an era marked by unprecedented change. He underscored the necessity for internal auditors to embrace transformation to remain relevant, highlighting the importance of enhancing cybersecurity measures, navigating digital transformation, and upholding ethical vigilance. He also noted that by proactively identifying risks and providing critical insights, internal audit plays a vital role in helping organisations adapt to change while safeguarding their assets and ensuring compliance.
Terry Grafenstine, the 2024–2025 Chair of the Global Board of Directors of The Institute of Internal Auditors (IIA) and Chief Audit Executive of Pentagon Federal Credit Union, delivered a compelling keynote address titled "Ask Questions: Building a Resilient Cybersecurity and Risk Management Strategy". Terry stressed the importance for internal audit practitioners to delve deeper into the intricacies of organisational operations and the risks they face. Her emphasis on technology and the pertinent questions auditors must address underscored the critical importance of cybersecurity in today’s rapidly evolving and unpredictable business environment. Terry also discussed the implications of artificial intelligence and how practitioners can navigate the associated risks while ensuring compliance with evolving regulations.
The conference featured four breakout sessions with a diverse lineup of 20 speakers, covering critical topics, including: a panel discussion on "Digital Disruption and Transformation", "Combating the Dark Side of Business - Overcoming Scams, Anti-Money Laundering, and Terrorism Financing", "Talent Management and Succession Planning in GRC and Internal Audit", "Bridging the Gap between AI Enthusiasm and AI Implementation - The Role of the Three Lines", "The New Standards: GIAS - Risks and Opportunities", "Navigating Geopolitical Risk and Implications for Organisations and Internal Auditors", and "Combating Financial Crime in Singapore’s Financial Services - Highlighting Best Practices in AML/CFT Audits”. Each session brought valuable insights from industry leaders, fostering engagement and knowledge sharing among attendees.
Participants had the opportunity to network with fellow professionals and engage with sponsors, including Diligent, PwC Singapore, KPMG in Singapore, Wolters Kluwer, Grant Thornton, and RSM. The sponsors created a buzz with enticing giveaways, including delicious waffles, ice cream, and refreshing beverages, along with exciting lucky draw prizes that encouraged attendees to visit their booths and explore innovative audit solutions.
A highlight of the event was the recognition of the outstanding achievements of Ong Kar Qi and Samuel Than from Singapore Management University, each of whom received the IIA Singapore Outstanding Student Award from Stephen Ching and Terry Grafenstine. This recognition underscores IIA Singapore’s commitment to nurturing the next generation of talent in the internal audit profession.
Overall, the conference underscored the critical role of internal auditors in embracing change and fostering resilience, equipping them with the insights needed to elevate their impact in a rapidly evolving risk landscape.
