DUBAI - In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Shaikh Mohammad Bin Rashid Al Maktoum issued Law No. (4) of 2018 regarding the establishment of the Financial Audit Authority (FAA); and Decree No. (14) appointing Deputy Ruler of Dubai His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum President of the Authority.
Sheikh Mohammad also issued Decree No. (15) appointing Abdullah Mohammad Saeed Ghobash Director General of the Authority.
The Law and the two Decrees are effective from their date of issuance and will be published in the Official Gazette.
The Financial Audit Authority is tasked with controlling public funds, and its spending and management. The Authority also seeks to ensure that departments under the purview of this Law spend public funds efficiently and effectively.
In addition, the FAA is tasked with ensuring and enhancing high levels of accountability and sound management practices within these entities and departments; and creating a conducive environment for control and risk management while ensuring high levels of transparency and integrity.
