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President issues law setting up Abu Dhabi Accountability Authority

posted on 21/12/2008: 918 views



President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a law setting up an accountability body for Abu Dhabi.

The main goal of the new entity is to increase accountability and transparency in Abu Dhabi government agencies and business units in which the government has a substantial interest.

The creation of the new body follows Sheikh Khalifa's call in his National Day speech to increase accountability and improve governance.

In his capacity as the Ruler of Abu Dhabi, the President issued law No. 14 of 2008 establishing the Abu Dhabi Accountability Authority as an independent corporate body that will replace the Financial Control Authority and report directly to the Crown Prince of Abu Dhabi.

The new entity also aims to ensure accuracy of financial reports. It will seek to ascertain that the management, collection and disbursement of funds of the various agencies it oversees are carried out in an efficient and transparent manner.

The new body also places restrictions that prevent any other authority from sacking its key employees.

The law issued by Sheikh Khalifa yesterday clearly defines objectives of the agency and power of its chairman and employees.

The new authority has the power to audit and approve the annual budgets and seek reports on the performance of local departments, local councils and authorities. – Emirates News Agency, WAM

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