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The Third International Conference of the Institute of Internal Auditors (IIA) of Armenia, titled “Growing with your business” kicked off on Thursday in Best Western Congress Hotel in Yerevan, VivaCell-MTS reports in a press release.

The two-day conference has gathered under one roof specialists from around the world and Armenia, representing different spheres of internal audit application. Representatives of highly reputable organizations, including the sphere of audit, as well as the financial sector – banks, insurance, investment companies, as well as from the sphere of state administration, take part in the conference.

Famous speakers from all over the world, representing the private, public and financial sectors from Armenia, the Netherlands, Russia, USA, Israel, Austria, Estonia, Slovakia, share their experience. The conference has two concurrent tracks: challenges of governance, risk and control in modern world and technological challenges for internal auditors. The general partner of the conference is Armenia’s leading telecommunications operator VivaCell-MTS.

Among keynote speakers are Ara Chalabyan, the President of IIA Armenia, Nerses Yeritsyan, Deputy Governor of CBA, Mane Tandilyan, the Minister of Labor and Social Affairs of the RA representing the public sector, Armen Der Kiureghian, the president of AUA from educational sector, Ralph Yirikian, VivaCell-MTS General Manager and Hakob Andreasyan, the ACBA-Credit Agricole Bank Chief executive Manager representing the private sector. Ara Chalabyan, Mane Tandilyan, Ralph Yirikian and Hakob Andreasyan delivered welcome speeches on the first day of the conference. The speakers emphasized the importance of the presence of Armenia in international professional platforms as a country with innovative solutions in the sphere of governance and acknowledged the positive steps in Armenia in the sphere of corporate governance.

Highlighting the importance of application of the internal audit and compliance in the corporate governance sector, Viva-Cell MTS General Manager Ralph Yirikian said in particular: “Saying that internal audit is about early warning system, helping to prevent problems by identifying the risks at an early stage, before they grow into crises, is to say nothing.  Talking business-wise, internal audit and compliance are tools, are means, and a weapon helping to retain positions, win in the competition, and moreover, to develop competitive advantage, enhanced to the level of distinctive capability that is not easy to replicate.”

The organization of international conference on internal audit in Armenia is important in terms of boosting the corporate governance culture in Armenia, as well as in terms of communicating to the business community on the mission, objectives and benefits of internal audit for organizing healthy, long-term and sustainable business performance. The guests of the country, who are experienced auditors in respective spheres of the economy, are exposed to achievements of Armenia in the sphere of internal audit and corporate governance, which will add to the external positive image of the country.