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Audit profile State
Audit Institution
In
the |
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The 1971 constitution of |
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Targets, Scope of
work, And Methods
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The State Audit Institution conducts financial audits of
public funds. It also ensures the legality and safety of the management of
these funds and of the implementation of development projects. |
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It does this by conducting financial audits of Ministries,
Federal Government Departments, Public Corporations, Companies or any bodies
in which the state or any public artificial person has a share of no less
than 25 percent or for which the state guarantees minimum limit of profit or
offers financial subsidy. |
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Other organizations can come under the audit of the SAI by
order of the Federal Supreme Council or the President or the Cabinet, as can
local Governments in the Emirates according to a written request of the Ruler
of the Emirate. |
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In addition to these audits, the SAI exercises concomitant
audit and inspection during contract and some operations implementation as
well as having a full post audit. |
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The latter includes audit of public expenditures, public
revenues, reconciliation accounts loans accounts investments, stores final
and appropriation accounts of all authorities audited by the SAI as well as
balance sheets, profit and loss accounts, operating trading and
appropriations accounts of the economic sector's corporations and companies
subject to the SAI audit and documents to identify the exact financial
position of these authorities, corporations and companies. |
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In addition to legality and performance audits, the SAI
oversees the accountability of all officials who are responsible to it for
settling funds, If necessary; the SAI takes action against officials who
commit a violation. In this case, the SAI investigates any financial
misconduct, and the President of SAI has to decide to either: |
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(a) |
File the papers ( thus deciding not to take action); |
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(b) |
Transfer the papers to the concerned authority to inflict the
disciplinary penalty which the SAI has adopted; or |
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(c) |
Prosecute the case before a financial disciplinary
council, composed specially for this purpose, in which one of SAI senior
officials takes part as one of its members. |
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The president of SAI has to forward an annual report about
each final account of the bodies subject to the SAI's
audit but he can also forward other reports during the fiscal year about
cases which he may see of major importance obliging perusal of the concerned
authorities, as well as the annual general report which exposes all the
activities which are conducted by SAI, explaining all the major findings,
conclusions and recommendations. So this AGR in considered as a very
important document which plays an important role in the financial and
administrative reform in the State.
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