UAE Canada Launch First Whitepaper on Conducting Internal Audits for Nuclear Regulators
The Federal Authority for Nuclear Regulation (FANR) of the UAE and the Canadian Nuclear Safety Commission (CNSC) have launched this week the first of its kind Whitepaper “Auditing Inspection Process—Nuclear Regulator” during an event held on the margins of the General Conference at the headquarters of the International Atomic Energy Agency (IAEA) in Vienna, Austria.
The whitepaper is groundbreaking and marks a major achievement in the field of internal audits which are conducted within nuclear regulatory bodies. The whitepaper highlights the important role of internal audit within nuclear regulators. It offers a thorough methodology to conduct technical audits of the regulatory inspection processes, including those of nuclear power plants and regulated materials licensees. The whitepaper also introduces an innovative inspection audit framework comprising eight core elements, offering high-level guidance on auditing inspection processes.
The whitepaper is an outcome of the intensive collaboration made by the International Internal Audit Collaboration Working Group (IIACWG), which FANR and CNSC established in 2020.
The IIACWG was setup to nurture global knowledge-sharing among internal audit functions within international nuclear regulatory bodies. The IIACWG has held numerous meetings that have significantly advanced the collective understanding of best practices in internal audit within nuclear regulatory bodies. These collaborative efforts have not only facilitated the exchange of valuable insights but have also strengthened the overall governance, internal controls, and risk management practices of the two participating organisations.
“Globally, there is an increasing demand for nuclear energy, which adds more responsibilities on the regulators. The whitepaper is innovative and reflects the importance of international collaboration amongst the various nuclear stakeholders. The whitepaper will play a key role in strengthening the role of regulators to ensure governance, risk management and operational efficiency,” said Christer Viktorsson, Director-General of the Federal Authority for Nuclear Regulation (FANR).
FANR has contributed key insights to the IIACWG, including elements of its comprehensive Anti-Fraud Framework, and its innovative Audit and Risk Methodology. Furthermore, the working group has enabled FANR to share its expertise with its Canadian counterpart on audit topics, fostering a rich exchange of knowledge between the two entities.
Internal Audit Functions within nuclear regulatory bodies play a crucial role in providing independent assurance to Boards and Management. They provide assurance on the effectiveness of entity’s corporate governance, risk management, compliance, and internal controls. Additionally, they offer valuable recommendations that drive continuous improvement, operational efficiency, and the promotion of ethical culture and integrity.
Source: Wam.ae
