"Financial oversight" In Dubai, it strengthens institutional partnerships to support governance and improve performance

Dubai, 5 March / WAM / The Dubai Financial Audit Authority organized round table sessions with the participation of representatives of the entities subject to the authority’s oversight, as part of its efforts to enhance institutional dialogue and establish a participatory approach aimed at supporting these entities and enabling them to address the practical challenges facing their employees in the work environment.

According to a press release issued today, the sessions aimed to provide an open and direct dialogue platform, which allowed participants to review the challenges they face in various areas of work, and share their realistic experiences from a practical perspective, which contributes to building a deeper understanding of the nature of these challenges and their repercussions on institutional performance.

The sessions focused on discussing main topics that reflected the diversity of the nature of the work of the regulated entities, including the challenges of implementing the Governance Guide for Government Entities in the Emirate of Dubai, the best practices of investment operations, the drivers and controls of digital transformation, the risks of construction project claims and contracting procedures, in addition to internal controls on revenue collection, recurring human resources issues, reporting and escalation mechanisms to ensure transparency and accountability, fraud investigation practices, leasing activities, and the impact of supply chain disruptions, in addition to the challenges associated with the application of some laws and legislation.

The sessions also formed an interactive space to present practical solutions and proposals presented by the participants based on their field experiences, which contributed to transforming the dialogue into applicable outcomes that support improving practices and enhancing the efficiency of institutional performance.

The sessions contributed to enhancing coordination and integration between the entities subject to supervision, and supporting the consistent application of regulations and legislation, in a way that consolidates the principles of governance and accountability, and contributes to supporting the stability of institutional work and the sustainability of its results.

His Excellency Abdul Rahman Al Hareb, Director General of the Financial Audit Authority in Dubai, said that the round table sessions come within the framework of an institutional approach adopted by the Financial Audit Authority to enhance effective partnership with audited entities, and to consolidate dialogue based on a common understanding of practical challenges and ways to address them within the approved regulatory and legislative frameworks. We believe that developing the oversight system is not achieved in isolation from practical reality, but rather through direct listening to field experiences, and transforming them into applicable solutions that enhance the quality of institutional performance.

He added that the most effective solutions stem from the participation of employees themselves, as partners in development, which contributes to standardizing oversight practices, raising the level of compliance, and enhancing the efficiency of public resource management. Through these sessions, the agency confirms its commitment to supporting the entities subject to oversight and enabling them to face challenges efficiently, and consolidating the principles of governance, accountability, and transparency, in order to achieve a sustainable institutional impact that keeps pace with the aspirations of the Dubai government.

These sessions come within the vision of the Dubai Financial Audit Authority, which aims to support regulated entities, enable them to face challenges efficiently, enhance a work environment based on transparency and cooperation, and achieve a sustainable institutional impact.

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