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22 June 2024

Dubai’s Financial Audit Authority launches ‘Corporate Governance Manual for Government Entities’

Published
By E247

In a key initiative that establishes a comprehensive governance framework for government entities in Dubai, the Financial Audit Authority today launched the ‘Corporate Governance Manual for Government Entities in the Emirate of Dubai’.

Designed to unify governance concepts and principles, the manual seeks to support government entities in achieving their strategic goals. It also aims to boost institutional performance, foster transparency, ensure accountability and protect the rights of stakeholders.

The manual is applicable to government entities, except for entities governed by legislations approved by relevant authorities, and activities related to judicial, military and civil regulatory matters.

His Excellency Abdulrahman Al Hareb, Director General of the Financial Audit Authority, said the manual is aligned with Dubai Government’s vision to continually raise the benchmarks of operational efficiency. He further said the manual serves as an essential guide to key principles and standards for enhancing government performance in Dubai. The manual aims to boost efficiency, effectiveness and transparency in Dubai government entities, leading to significant enhancements in their performance and the achievement of their goals.

Sharing insights on the development of the manual, His Excellency Al Hareb said: "Our approach involved collaborative discussions with the General Secretariat of The Executive Council and the General Secretariat of the Supreme Legislation Committee. We also held awareness sessions on the manual with select government entities."

His Excellency noted that Dubai, under the guidance of its leadership, continually strives to work to create a better future for all its residents. Corporate governance is a fundamental pillar in this endeavour, enhancing decision-making and excellence. By providing a systematic framework for sound governance, the new manual supports government entities in effectively achieving their strategic goals and contributing significantly to Dubai’s sustainable development, he added.