Riyad Bank sponsored the 3rd Accounting and Auditing Forum, which was held on April 21 at Park Hyatt Jeddah, with the support of Minister of Commerce and Industry Tawfiq Al-Rabiah.

The forum was organized by the Saudi Organization for Certified Public Accounts (SOCPA), in collaboration with the Institute of Chartered Accountants of Pakistan.

The form themed "Accounting and finance: Facing future challenges," aimed to recognize the important role accounting plays in enhancing the national economy by serving its institutions and strengthening the role that accounting is undertaking to manage institutions and enterprises.

High profile international and national executives and experts participated in the forum. Riyad Bank was present through different department representatives such as finance, accounting, compliance, and credit and auditing. During his participation as a speaker, Abdullah Al-Zandan, manager of internal control department, presented a paper on governance and risk management.

Riyad Bank was mainly interested in the forum for its prominent role in bringing out discussions, highlighting the financial performance of institutions and suggesting ways to develop and maintain their positive outcomes.

The bank believes that this can be achieved by adapting high quality accounting standards, which help to achieve the enterprise goals, taking care of shareholders’ interests, preserving their rights and maintaining the potential of the national economy.

Previous accounting and auditing forums were held in Riyadh and Dammam, which had a significant success due to the serious discussions raised and valuable participations.

This time, the forum presented a number of sessions containing different subjects, including transition to international standards, opportunities and challenges, financing projects through the issuance of sukuk (Shariah-compliant bonds), allowing foreign investors to enter Saudi stock exchange (Tadawul), accounting skills and finally governance and risk management.