President issues law to create Accountability Authority

President Sheikh Mohamed has issued Federal Decree Law No (56) of 2023 to establish the UAE Accountability Authority, which will replace the Supreme Audit Institution, according to state news agency Wam.

The authority, which will report to the President, aims to maintain and boost the integrity of public finances. It will be the top authority for financial control, auditing, integrity and transparency in the UAE.

The authority aims to enhance “instilling integrity, accountability, transparency and good governance in the federal government” and other related entities to bolster the UAE’s reputation as well as trust in its financial and economic system, Wam reported.

The authority is responsible for reviewing and auditing the federal government’s consolidated annual report. It will also audit the annual financial statements of individual and combined entities under its supervision, in accordance with the laws and regulations governing these entities.

The duties include evaluating the effectiveness of internal control systems for financial and operational functions and establishing top-level policies for integrity and anti-corruption measures, once approved by the President.

This extends to ensuring the efficiency and compliance of government entities with laws, regulations, policies and governance principles.

Heads of supervised entities and relevant ministers are obligated to act on the authority’s findings. They must furnish responses within 30 days of notification, extendable under specific circumstances.

The authority is also responsible for investigating complaints and reports related to financial misuse, conflicts of interest, abuse of authority, unauthorised disclosure of official information or leveraging public office for personal or third-party benefit.

Its functions cover preventive actions, administrative inquiry controls, financial transparency, safeguarding whistleblowers and efforts to recover public funds.

In addition, it delineates financial and administrative breaches, covering decisions or statements affecting the nation’s reputation, financial and economic interests.

The authority is empowered to audit, scrutinise and evaluate documents, data, reports, digital records and electronic systems of the concerned entities. It also holds the power to review external audit reports and gain access to entities’ electronic systems and programmes, as well as the entities and people working with them.

The authority will report to the President and aims to maintain and boost the integrity of public finances