World News | Financial Audit Authority in Dubai Launches 'Anti-Fraud Framework' to Promote Accountability, Transparency, and Integrity
Get latest articles and stories on World at LatestLY. The Financial Audit Authority (FAA) has launched the "Anti-Fraud Framework'' as part of its efforts to promote effective accountability and best practices within the auditees, in addition to participate in the creation of a highly motivated environment for control and risk management that features transparency and integrity.
Abu Dhabi [UAE], July 13 (ANI/WAM): The Financial Audit Authority (FAA) has launched the "Anti-Fraud Framework'' as part of its efforts to promote effective accountability and best practices within the auditees, in addition to participate in the creation of a highly motivated environment for control and risk management that features transparency and integrity.
The said Framework is based on an integrated methodology that promotes the principles of transparency, integrity and combating the financial and administrative corruption, through providing guidelines to develop an effective and integrated framework to combat fraud across the auditees, and to enable them to identify, detect and address the fraud risk according to an efficient methodology that ensures the protection of the public fund and to maintain the interests of the auditees.
FAA has introduced two key platforms under the Anti-Fraud Framework that are Financial Violations Reporting Platform and Nazaha Platform.
FAA has launched the "Financial Violations Reporting Platform", a platform customised for the auditees based on FAA’s belief in the necessity of promoting transparency and fostering collaboration in combatting financial and administrative corruption.
This digital platform streamlines the reporting process and ensures that FAA is promptly notified of any violations occurring within the auditee as well as any relevant investigations in place.
This platform also facilitates the procedures of referring the investigation’s documents to FAA as per the adopted procedures in this respect.
"Nazaha" platform represents a confidential and secure channel for the community members and the clients of the auditees to report any financial and administrative violations that occur across the auditees.
In this context, Abdulrahman Al Hareb, Director General of the Authority in Dubai, reaffirmed the Authority's commitment to adopt such initiatives that enhance the role of auditees in protecting public fund and participate in the creation of a highly motivated environment for control and risk management that features transparency and integrity.
Al Hareb further emphasised the importance of collaboration and coordination between the Authority and the auditees to combat fraud, stressing that the protection of public fund is the key denominator for FAA and the auditees. (ANI/WAM)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)