Dubai: H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Financial Audit Authority (FAA), has approved the authority's strategic plan for 2025-2028. The approval signifies a commitment to reinforcing the authority's role in alignment with Dubai's vision for enhancing transparency and innovation across government entities.
According to Emirates News Agency, the strategic plan reflects the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, aiming to strengthen the authority's role in ensuring effective oversight, safeguarding public funds and resources, and upholding high standards of accountability and transparency. Sheikh Maktoum emphasized the plan's role in enhancing government performance by strengthening financial oversight and ensuring transparency, thereby maintaining Dubai's position as a global leader in delivering high-quality services.
The strategic plan aligns with Dubai's growth trajectory and adapts to the global economic landscape and digital transformations. It focuses on enhancing the Financial Audit Authority's capabilities by implementing advanced technological and regulatory systems and developing employee skills. This approach aims to position the authority as a key institution in promoting transparency, accountability, integrity, and excellence in managing public funds.
The authority's mission includes delivering independent oversight of public resources, ensuring accountability, compliance, and optimal performance in the entities it supervises. The strategic plan is founded on core values such as independent decision-making, service excellence, innovation, professionalism, and transparency in financial management.
The plan's structure includes four main goals and 15 strategic objectives, with 32 strategic performance indicators established to monitor progress. It emphasizes stakeholder compliance with legislation and regulations, enhancing risk and compliance management, internal controls, and financial integrity through effective investigations into violations.
Furthermore, the plan encourages transparency and collaboration, fostering trust between the authority and entities under its supervision. It highlights the development of sustainable partnerships to enhance stakeholder satisfaction, uphold ethical standards, and provide expert advisory services to support the entities under the authority's supervision.
The plan also focuses on continuous learning, knowledge exchange, and capacity building for stakeholders, while prioritizing employee well-being through cultural programs. It advances employee proficiency in modern technology and AI-driven auditing to optimize performance.
Innovation is fostered through advanced technology to enhance auditing and operational efficiency, with a framework established for digital transition. Dedicated plans ensure compliance with IT standards and maintain business continuity, emphasizing cybersecurity.
Abdulrahman Al Harib, FAA Director-General, highlighted the strategic plan's role in enhancing government performance and contributing to governance in managing public resources. The plan enhances confidence in Dubai's financial systems, adopting efficient control mechanisms powered by modern technology and AI, supporting sustainable growth and governance excellence across the emirate.