Events

The Second International Conference of the Institute of Internal Auditors of Armenia kicked-off in

Best Western Congress Hotel in Yerevan. The two-day high-level conference brought together

specialists from around the world and Armenia, representing different spheres of internal audit

application. Representatives of highly-reputable Armenian and foreign organizations, including the

sphere of audit, as well as the financial sector – banks, insurance, investment companies, as well as

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, Netherlands, Romania,

Georgia, Russia, Ukraine, Belarus, UAE, share their experience. The general partner of the conference

is Armenia’s Leading Telecommunications Operator VivaCell-MTS.

Armenia is represented by three keynote speakers - Ara Chalabyan, the President of IIA Armenia,

Nerses Yeritsyan, Deputy Governor of CBA and the only representative of Armenian private sector –

VivaCell-MTS General Manager Ralph Yirikian. Ara Chalabyan, Ralph Yirikian and Senior Vice-

Chair of IIA-Global Angela Witzany made opening speeches. 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 positive steps in Armenia in the

sphere of corporate governance.

“It is difficult to overestimate the importance of internal audit in laying down institutional ground

for effective and transparent business management. First of all, internal audit is the early

detection and prevention of health risks and illnesses of different systems in such a live organism

as business structure. It is also aimed at revealing incompliances to internal regulations,

procedures, the RA legislation and non-correspondence to the strategic objectives of the

organization. Most importantly, for a business structure that works in a highly competitive market

environment, internal audit is a necessary strategic instrument to win by gaining and retaining

competitive advantage,” VivaCell-MTS General Manager Ralph Yirikian said during his

presentation “Driving Change in the Private Sector.”

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 renowned

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 our

country.