Integrating Enterprise Risk Management and Risk-Oriented Internal Audit in Saudi Arabia: An Institutional perspective

Effective governance systems have grown more and more important as Saudi Arabia moves toward Vision 2030, which calls for a knowledge-based, diversified economy. The integration of risk-oriented internal auditing (RIA) and enterprise risk management (ERM) in Saudi enterprises is examined in this study, with an emphasis on how these approaches might improve resilience, accountability, and strategic alignment. Internal audit functions are still underrepresented in strategic risk assessment, despite the growth in ERM adoption, according to this study, which uses a mixed-methods approach that includes expert interviews, document analysis, and a quantitative survey across multiple industries. The study identifies significant gaps in skill development, technology integration, and regulatory uniformity. The study suggests a hybrid strategy in which RIA actively participates in the ERM lifecycle to promote strategic insight in addition to ensuring compliance. This research advances the practical development of governance structures in emerging economies as well as the theoretical foundation of integrated assurance.