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Internal Audit and Corporate Risk Assessment

​​​Internal Audit Office

Internal Audit:

  • Prepare the strategic and annual internal audit plan, based on an objective assessment of the risks of the entity’s activities and business, including the approved fraud scenarios and timetable, and getting it approved by the Audit and Risk Committee in the last quarter of the fiscal year.
  • Implement awareness workshops to familiarize the Authority’s employees with the tasks and requirements of the Internal Audit Office, fraud risks, and reporting methods and channels.
  • Review the internal audit policy and charter and the anti-fraud guide in accordance with government laws and regulations.
  • Provide consultation services to the requested departments to add value to the Authority.
  • Carry out assurance work related to compliance and financial auditing, operational and performance auditing, and information technology systems according to the approved audit plan, and submit reports to the Audit and Risk Committee.
  • Ensure the Authority’s compliance with all applicable financial and administrative laws, systems, and regulations, and submit improvement proposals to develop the Authority’s business.

Fraud Management:

  • Prepare a fraud risk register by evaluating fraud scenarios.
  • Ensure the effectiveness of fraud controls by evaluating these controls and developing corrective and preventive measures when needed, in order to submit a report in this regard to senior management.
  • Manage investigation reports of fraud and manipulation, and submit an initial report to senior management in this regard. In case the investigation has been proven, a report should be submitted to the UAE Accountability Authority.

External Audit:

  • Study and follow up on the reports submitted by the Ministry of Finance, UAE Accounting Authority and external financial auditor, and ensure coordination with GCAA units to close the observations according to a specific timetable.
  • Ensure that the requirements of external audit bodies are met with regard to coordination with GCAA units to meet the requirements of these bodies, such as providing documents and information related to the Authority.
  • Submit periodic reports to the Audit and Risk Committee regarding the Authority’s performance to close the observations of external audit parties, such as the Ministry of Finance and the Emirates Accounting Authority.
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