The Zakat, Tax and Customs Authority organized the International Risk Management Conference (IRMC) at the ZATCA Academy in Riyadh with the theme "Integrated Risk Approaches," drawing professionals in institutional risk from a wide range of industries.
The risks faced by government sectors and organizations were the primary focus of the Conference as delegates addressed the best practices, methods, and the most effective strategies of managing and coping with institutional risk management.
Institute of Risk Management (IRM) was introduced at the Conference. IRM is a non-profit organization with a global reach that focuses on advancing a culture of responsible risk-taking via innovative research, education, and training. On a regular basis, IRM hosts productive regional meetings, to which invited risk experts attend.
At the Conference, ZATCA also shared its vision in institutional risk management, as well as its integrated risk approach, which is based on integrating and reinforcing the principles of institutional risk management into ZATCA's culture and day-to-day operations through the creation of a conducive environment and the introduction of a risk management framework. Also, a presentation on risk governance and assessment of regulatory controls was given by the Ministry of Municipal and Rural Affairs and Housing (MOMRAH) and the General Authority for Awqaf (GAA).
ZATCA hopes to gain as much exposure and credibility as possible as a premier risk management organization through the success of this Conference. The ZATCA's vision objectives will be bolstered as a result of the increased efficiency and improved customer experience brought about by the pooling of knowledge and ideas, the exploration of methods to ensure the most effective application of risk management practices across all ZATCA domains, and the development of customer- and tax-friendly workflows.
