Financial Audit Authority to host 2nd edition of ‘Foreseeing Government Audit Future Conference 2024’

• The gathering will drive discussions focused on the future of government auditing, internal controls, and financial oversight, while offering innovative insights

The Financial Audit Authority (FAA) announced the Foreseeing Government Audit Future Conference 2024, scheduled for 24 October at Madinat Jumeirah, under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and Chairman of the Financial Audit Authority.

This year’s theme, ‘Tomorrow’s Auditor,’ emphasises Dubai’s leadership in government auditing, bringing together key figures, senior officials, and experts in auditing, finance, and economics. The conference will drive discussions shaping the future of government auditing, internal controls, and financial oversight, while offering innovative insights.

The event features panel discussions and workshops on best practices and forward-thinking solutions essential for advancing government auditing processes. These discussions will also serve to support Dubai’s economic landscape, aligning with its development goals.

Boost for accountability, transparency 

Local and international speakers, including senior officials from Dubai’s government and federal entities, will share their expertise on global auditing standards and practices. This will promote knowledge transfer and enhance government auditors’ performance, preparing them for future challenges.

The conference will feature multiple panel discussions in line with the FAA’s commitment to enhancing accountability, transparency and integrity in the use of public resources in Dubai. These sessions will highlight key practices in government auditing and showcase a wide range of leading solutions to boost this vital sector, which significantly contributes to the emirate's comprehensive development.

His Excellency Abdulrahman Al Hareb, Director General of the Financial Audit Authority, highlighted the need to raise awareness and build a strong culture of auditing and governance within public institutions, adding that these are key pillars in ensuring sound financial practices and boosting the emirate’s growth and prosperity. “This conference keeps pace with the rapid advancement Dubai is experiencing across various fields, highlighting its position as a prominent model for sustainable development both regionally and internationally, as well as a global hub for financial, commercial, and tourism services.”

Addressing the conference's objectives, HE Al Hareb stated: “This aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to achieve excellence across all sectors. By bolstering our auditing capabilities, we ensure public funds are safeguarded and continue to drive growth through best practices in government auditing.”

Keynote address

The conference will open with a keynote session titled ‘Governance of Artificial Intelligence and the Digital Economy,’ presented by His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications. The session will explore the importance of governance in AI and the digital economy, reflecting Dubai’s innovative vision.

This year's agenda for the ‘Foreseeing Government Audit Future Conference’ features a series of key discussion sessions. One notable session is titled ‘The Role of Effective Governance and Oversight in Achieving the Dubai Economic Agenda D33.’ This session will be led by a distinguished panel of Directors General and esteemed officials, including HE Malek Al Malek, Director General of the Dubai Development Authority; HE AbdulRahman Al Hareb, Director General of the Financial Audit Authority; HE Mohammed Lootah, President and CEO of Dubai Chambers ; and HE Khalfan Belhoul, CEO of the Dubai Future Foundation. The session will focus on the Dubai Economic Agenda D33, emphasising the critical role of effective governance and oversight in its implementation, as well as enhancing the appeal of Dubai’s business environment.

The conference will also spotlight ‘Inspiring Women: Success Stories from the UAE,’ featuring speakers such as Her Excellency Hala Badri, Director General of the Dubai Culture and Arts Authority; HE Dr. Maryam Al Suwaidi, CEO of the Securities and Commodities Authority; and HE Aisha Miran, Director General of the Knowledge and Human Development Authority. This session will highlight Emirati women’s accomplishments, offering inspiration and insights.

Notable sessions

Additionally, there will be side sessions on key topics such as fraud risk assessment, performance monitoring best practices, and how these can be applied to internal auditing to shape the future of government auditing and governance. Other sessions will discuss governance’s role in enhancing tax compliance. Notable sessions include ‘Governance for Sustainable Growth’ and ‘AI in Internal Auditing,’ as well as discussions on cybersecurity awareness and the role of internal control in reporting.

Now in its second year, the conference builds on the success of the inaugural edition, which helped highlight best practices in government auditing to improve efficiency and support development. This aligns with HH Sheikh Mohammed bin Rashid’s vision of enhancing financial security and promoting a culture of financial responsibility.

Follow Emirates 24|7 on Google News.