UAE’s new federal authority to combat financial corruption

The UAE has established a federal accountability authority that will set up a supreme policy to combat financial and administrative corruption.

The new entity replaces the supreme audit institution, after a decree issued by President Sheikh Mohamed bin Zayed Al Nahyan, the UAE’s state-owned Wam news agency reported.

The authority’s functions include reviewing and auditing the consolidated annual report of the federal government, and auditing separate and combined annual financial statements in government-owned entities.

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Responsibilities also include assessing the efficiency and effectiveness of internal control systems for financial and operational operations, setting the supreme policies on integrity, and combating financial and administrative corruption.

The authority will be empowered to review and undertake administrative investigation into complaints and reports regarding any misappropriation of funds and assets, misuse of authority and exploitation of public office for personal gain or benefit to third parties.

It will implement preventive measures and controls for administrative investigations and financial disclosures, and identify strong mechanisms to protect whistle-blowers and witnesses.

The authority will have the right to impose a disciplinary penalty on any violating employees, the report said.