The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued Federal Decree-Law No. (56) of 2023 on establishing the UAE Accountability Authority.
The new entity will replace the Supreme Audit Institution, and will report directly to the President.
Aimed at maintaining and enhancing the integrity of public finances, the Accountability Authority will be the highest authority for financial control, auditing, integrity and transparency in the country.
According to the decree, the Authority's functions include reviewing and auditing the Consolidated Annual Report of the federal government and expressing opinion on it, as well as auditing separate and combined annual financial statements in the entities subject to the control of the Authority.
Its responsibilities also include assessing the efficiency and effectiveness of internal control systems for financial operations, as well as setting the supreme policies on integrity and combating financial and administrative corruption, following their approval by the UAE President.
The Authority will be reviewing and undertaking administrative investigation into complaints and reports regarding any misappropriation of funds and assets belonging to the regulated entities, conflicts of interest, misuse of authority, disclosure of official data and information, or exploitation of public office for personal gain or benefit to third parties.
It is also tasked with identifying strong mechanisms to protect whistleblowers and witnesses, as well as initiatives to recover public funds.
UAE President issues a Federal Decree-Law establishing the "UAE Accountability Authority" pic.twitter.com/4TXgTUwnyJ
— UAEGOV (@UAEmediaoffice) December 19, 2023
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