The President, His Excellency Federal Decree-Law No. (56), In 2023, Sheikh Mohamed Bin Zayed Al Nahyan, established the UAE Accountability Authority.
The Supreme Audit Institution will be replaced by the new Authority, which will answer directly to the President.
The new Authority will be the highest Authority for financial control, auditing, integrity, and openness in the nation to preserve and improve public money’s integrity.
To combat financial and administrative corruption, strengthen risk management systems, maximize detection, limit its causes, and preserve public funds, the issued Federal Decree-Law regulates the functions of the UAE Accountability Authority and its multifaceted contribution, in conjunction with other specialized authorities through oversight of financial, accounting, and operational activities in entities under its purview.
The Decree states that to strengthen the nation’s reputation and the confidence people have in its financial and economic system, the Authority seeks to improve the instillation of integrity, accountability, transparency, and good governance in the Federal Government and the businesses subject to the Authority.
In addition to reviewing and evaluating the federal government’s Consolidated Annual Report and offering an opinion on it, the Authority’s duties also include auditing the individual and combined annual financial statements of the entities under its jurisdiction, considering the laws and regulations that set up these entities.
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