Speaking at the OQ Assurance Forum 2026, Mohammed bin Hamdan Al Zadjali, director general of the Market Conduct and Financial Stability Unit at Oman’s Financial Services Authority, emphasised board accountability, a culture of risk awareness and independent internal audit as foundations of effective governance.
Board members bear fiduciary duties towards their institutions, stakeholders and the public interest. They need to understand the legal and personal obligations associated with their decisions and oversight responsibilities while keeping pace with emerging risks. Effective risk management extends beyond policies, procedures and internal controls. It requires leadership commitment to risk awareness that is reflected in daily behaviour, decision-making and operations throughout the organisation.
For internal audit to serve as a trusted adviser to management and boards, it must build trust through independent and effective assurance. Analytical capabilities and insights should complement that assurance, supporting informed decisions and helping organisations anticipate emerging risks and identify future opportunities.