Muscat – Renaissance Services – the leading accommodation, services solutions and integrated facilities management company in Oman – received the highest possible rating of ‘Generally Conforms’ for its internal audit function during an independent assessment.
The rating was given following an external quality assessment (EQA) conducted by an independent professional assessor. It implies that the relevant charter, structure, policies and procedures of the internal audit department, as well as the processes by which they are applied, comply with the requirements of International Professional Practices Framework (IPPF) from the Institute of Internal Auditors (IIA) and the regulations of the Capital Market Authority of Oman (CMA).
The external quality assessment was held as part of the efforts to evaluate the conformance of Renaissance’s internal audit activities to the mandatory guidance of the IPPF, assess the effectiveness in carrying out its mission as outlined in the charter, identify opportunities to enhance its management and work processes.
Yahya Said al Jabri, Chairman of the Audit and Internal Controls Committee of the Board of Directors, Renaissance Services, accepted a…
