Dubai’s Financial Audit Authority (FAA) has concluded its maiden consulting assignment for an External Internal Audit Quality Assurance Assessment, completing an independent review of the Community Development Authority’s (CDA) internal audit function.
The exercise is part of FAA’s role in assisting government bodies and helping to bolster the performance of their internal audit units, according to a press release posted on Zawya.
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This external assessment is one of FAA’s core consulting services, intended to help public entities evaluate and enhance their audit and oversight practices.
FAA Consulting & Business Excellence Department director Faisal Kazim said: “Delivering independent quality assurance assessments is a key part of FAA’s mandate to enhance governance and oversight across subject entities.
“This successful engagement with CDA is a testament to the value our specialized consulting services bring in aligning internal audit practices with global standards and fostering a culture of continuous improvement.”
For this engagement, CDA’s internal audit activities were assessed against the requirements of the global internal audit standards, which call for an external quality review at least once every five years.
Following the review, CDA was rated “Generally Conforms”, indicating a high degree of alignment with the Global Internal Audit Standards and an emphasis on ongoing improvement of internal audit processes.
Community Development Authority in Dubai (CDA) Internal Audit and Risk Management Department director Talal Al Hashmi said: “This external assessment represents a valuable addition to the continuous development journey at the Community Development Authority. It also reinforces our commitment to applying the best global practices in internal auditing.
“We also value the constructive collaboration with the Financial Audit Authority in Dubai, which contributes to strengthening governance and transparency principles, and supports our efforts to enhance continuous improvement and further elevate the efficiency of the work system.”
FAA’s Consulting & Business Excellence Department supports subject entities in governance, risk management, compliance, internal control and internal audit.
