Ministry of Finance holds workshop with all ministers on updated concepts in internal auditing

The workshop falls in line with the Ministry's commitment to deploy latest methods and procedures to improve work efficiency, overall competitiveness and adherence to management instructions. The workshop also aimed to increase the interest in institutional governance, which provides the management with the tools necessary to manage changes and risks.

The workshop organized under the title "Updated Concepts in Internal Audit" was attended by a number of UAE Ministers, and covered details in internal audit types and stages of development from a supervision activity to an independent strategic consultant activity.

While it covered in detail the parameters of accountability and monitoring to ensure consistent improvement in activities and calibrated implementation, it also provided information on the validity and effectiveness of the control system for the senior management. The underlying outcome of such a workshop is to assist in the development of procedures and link them directly to the Ministry's strategic objectives, all the while focusing on mitigating risks that the concerned authority could face.

Inaugurating the workshop, HE Obaid Humaid Al Tayer, Minister of State for Finance said:

"This workshop reflects the directives of HH Sheikh Khalifa bin Zayed Al Nahyan, President of the State, and HH Sheikh Mohammed bin Rashid Al Maktoum, the Prime Minister, who are very keen to strengthen the cooperation between various ministries and government departments and ensure best practices are in line with international standards. We must adapt state-of-the-art methodologies to keep up with the sustainable growth plans on a national level, and provide the best services at the government work level as per the instructions of HH Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of State for Presidential Affairs."

This workshop is a part of the plan developed by the Ministry of Finance to change the work culture towards the discipline of internal audit in the different federal agencies in a comprehensive manner, through regular and supportive participation.

The internal audit methodology also laid down the foundation of transfer of financial control with an aim to grant various ministries the power of financial self-control whereby ministries remain responsible and accountable for the spending side of their budgets through internal audit offices based inside the ministries, but linked to the Ministry of Finance.

"This initiative is at the heart of the Ministry of Finance's objectives, which is to assist other ministries in increasing efficiency levels and quality of services, and provide access to the latest methods to implement the workflow process, thus, achieving excellence in government, which we consider to be a core pillar of development in light of ongoing changes in the work environment all over the world in general and in the United Arab Emirates in particular." HE Al Tayer concluded.