- UAE President Sheikh Mohamed issues law establishing the UAE Accountability Authority to replace the Supreme Audit Institution, focusing on financial control and transparency.
- The Authority’s core objective is to safeguard public funds, combat corruption, and fortify risk management systems.
- It will oversee financial, accounting, and operational activities, conducting audits and setting policies for integrity and anti-corruption measures.
- The law outlines administrative procedures, incentives for reporting financial corruption, and the Authority’s power to access documents and electronic systems.
- The legislation defines entities under its oversight, ensuring robust governance practices and accountability throughout government bodies.
New Law Establishing the UAE Accountability Authority
Sheikh Mohamed issues a new law establishing the UAE Accountability Authority, which will replace the Supreme Audit Institution and report directly to the President. The Authority aims to uphold and bolster the integrity of public finances and will serve as the primary body for financial control, auditing, integrity, and transparency across the nation.
Responsibilities and Jurisdiction of UAE Accountability Authority
Reinforcing Good Governance
It will oversee financial, accounting, and operational activities in entities under its jurisdiction to combat financial and administrative corruption, bolster risk management, detect irregularities, and hold accountable those involved in corrupt practices. The Authority seeks to reinforce integrity, accountability, transparency, and good governance within the federal government and under its supervision.
Ensuring Financial Integrity
Among its responsibilities, the Authority will review the Consolidated Annual Report of the federal government, audit annual financial statements of entities under its control, evaluate the efficiency of internal control systems, and establish policies for integrity and combating financial corruption. It will also ensure that findings from its oversight are implemented by relevant heads of entities and ministers.
Safeguarding Financial Integrity
The Authority will conduct administrative investigations into complaints regarding fund misappropriation, conflicts of interest, misuse of authority, and other violations. It will take preventive measures, oversee financial disclosures, protect whistleblowers, and endeavor to recover public funds. Furthermore, it holds the power to access documents, electronic systems, and external audit reports to carry out its responsibilities effectively.
Ensuring Transparency & Accountability
Procedures for conducting administrative investigations, imposing disciplinary penalties, and cooperating with competent authorities for criminal offenses are also outlined in the decree. The law includes provisions for rewarding individuals who provide significant information on financial corruption and granting exemptions to collaborators reporting their involvement in corruption before disclosure.
This legislation defines the entities under the Authority’s jurisdiction, their obligations, and the roles of its personnel, clients, and auditors, aiming to ensure stringent governance practices and accountability across government bodies.