Abu Dhabi: On December 20, the UAE president issued a new law creating the UAE Accountability Authority, aiming to uphold the integrity of public finances and combat corruption. This Authority replaces the Supreme Audit Institution and directly reports to the president.
The UAE Accountability Authority holds a crucial role in financial control, auditing, integrity, and transparency. It will investigate complaints about misappropriation of funds, conflicts of interest, misuse of authority, disclosure of official data, and exploitation of public office for personal gain.
The Authority oversees financial, accounting, and operational activities in regulated entities, aiming to combat financial and administrative corruption. It evaluates the efficiency of operations, sets policies on integrity, and ensures adherence to laws and good governance rules.
Key responsibilities include reviewing the Consolidated Annual Report of the federal government, auditing financial statements, and assessing the effectiveness of financial and operational activities. The Authority also establishes mechanisms to protect whistleblowers, recover public funds, and define financial and administrative violations.
Read also: UAE announces new law to regulate media
Entities subject to oversight must implement the Authority’s findings, respond within 30 days, and follow specified procedures. The Authority is empowered to audit, examine documents, access electronic systems, and coordinate with relevant authorities.
The law outlines administrative investigation procedures, allowing the Authority to inform entities of violations and impose disciplinary penalties. Decisions on measures imposed by entities must be submitted within 15 days. If a criminal offense is suspected, the Authority can refer the case to the competent prosecution.
The law also provides incentives for individuals reporting corruption and outlines procedures for exemptions from penalties. Settlements resulting in fund recovery and public interest information provision are authorized.
The law defines the entities under the Authority’s purview, clarifying roles and obligations. It specifies the functions of personnel, clients, and auditors within the supervisory authority. The aim is to strengthen accountability, promote transparency, and combat corruption in various sectors.
The UAE is ranked 21st globally and 1st regionally on the Corruption Perceptions Index for 2020 issued by Transparency International. The UAE does not tolerate corruption in any way and makes everyone accountable for such deeds, whether in the private or public sector.
