UAE has a clear vision for enhancing oversight, good governance

The UAE has a clear vision for enhancing financial supervision and good governance and enabling the country's state audit institution to earn a prestigious status at the regional and international levels through adopting advanced regulations as per the best international practices, H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, has said during the 22nd International Congress of Supreme Audit Institutions, or INCOSAI.

There are challenges ahead at the domestic and international levels that require national human resources to shoulder huge responsibilities, Sheikh Mansour said at the opening of the congress being held by INTOSAI, the International Organisation of Supreme Audit Institutions, and hosted by the UAE State Audit Institution.

"The UAE's presidency of INTOSAI would not have been possible without national efforts that reflect the progress being made in the UAE in meeting professional standards and compliance to national legal frameworks that are aimed at enhancing good governance while preserving its independence and enhancing performance," he added.

The UAE's hosting of the INCOSAI, Sheikh Mansour further noted, reflects the country's civilised vision and a new chapter of its globally prominent achievements.

He further lauded the role being played by INTOSAI in combating corruption and establishing the principles of integrity, transparency and accountability to protect public funds.

Working papers from 165 monetary supervisory agencies from around the world will be discussed during the congress.

Running until 11th December, INCOSAI 2016 aims to discuss financial oversight and supervision and how to combat corruption in the public sector.

The INCOSAI will be an important milestone in international efforts being made to provide capabilities and opportunities to serve the strategic goals of the INTOSAI, and serve all members of the organisation, provide an effective framework for co-ordinating relevant procedures and launch further work and effort in the future, Sheikh Mansour said.

The International Congress of Supreme Audit Institutions, INCOSAI 2016, provides an important opportunity to underline international operation in enhancing auditing and good governance and management as per the best international practices in oversight over the public sector.

The congress is the supreme organ of INTOSAI and holds regular meetings once every three years to share experiences, discuss issues, and pass resolutions and recommendations to improve government accountability worldwide.

INCOSAI 2016 seeks to promote the professional status of the state in the area of financial control and the fight against corruption in the public sector.