The Dubai Financial Audit Authority has been holding roundtable meetings with representatives of the entities that it oversees as part of its continuous endeavors to enhance institution-level dialogue and instill a participatory mode of engagement that would support these entities and help them to respond to the practical challenges affecting their employees in the workplace.
The sessions served the purpose of establishing an open and candid platform of discussion, where the parties involved could present and discuss the issues that they face in different spheres of work and provide real-life experiences in a more pragmatic approach.
This, in its part, helps in developing a more in-depth insight into the nature of such challenges and their effects on the performance of institutions.
The roundtable discussions were based on the major themes indicative of the heterogeneity of the work and challenges common to the audited entities.
These included Challenges in Implementation of Corporate Governance Manual in Government Entities in Dubai; Investment Process Best Practices; Digital Transformation Drivers, Challenges and Controls, Risks Associated with the Construction Projects Claims and Project Procurement Process, Internal Controls over Revenue Collection, Human Resources: Addressing Recurring Issues, Reporting Mechanisms to ensure Transparency and Accountability and Conducting Effective Fraud Investigations, Leasing Activities and Supply Chain Disruptions, and Challenges in Implementation of Some Rules.
The sessions also created an interactive platform whereby participants could suggest viable solutions and recommendations using their experience in the field to assist in changing talk into actions that could be used to encourage better practices and increased institutional efficiency.
Moreover, the sessions helped to enhance coordination and integration of audited entities and help to maintain similar application of systems and legislation, which reinforced governance and accountability and assisted in maintaining institutional stability and sustainable results.
Abdulrahman Al Hareb, Director-General of the Dubai Financial Audit Authority, said, “Roundtable sessions form part of an institutional approach adopted by the Financial Audit Authority to strengthen effective partnerships with entities subject to its oversight and to entrench dialogue based on a shared understanding of practical challenges and ways to address them within the approved regulatory and legislative frameworks. We believe that developing the oversight system cannot be achieved in isolation from real-world practice; rather, it requires directly listening to on-the-ground experiences and translating them into practical, actionable solutions that enhance the quality of institutional performance.”
He added, “The most effective solutions stem from the active participation of employees themselves, as partners in development. This participation contributes to unifying oversight practices, raising levels of compliance, and enhancing the efficiency of public resource management. Through these sessions, the Authority reaffirms its commitment to supporting entities subject to its oversight and enabling them to address challenges efficiently, while embedding the principles of governance, accountability, and transparency, thereby achieving a sustainable institutional impact in line with the aspirations of the Government of Dubai.”
The sessions are a part of the vision of the Dubai Financial Audit Authority to assist the audited entities, so that they can overcome the challenges effectively and create a work environment founded on transparency, collaboration, and sustainable institutional impact.
