Dubai’s Financial Audit Authority (FAA) has completed its first internal audit quality review for the Community Development Authority (CDA). The CDA received a rating of ‘Generally Conforms’, indicating high alignment with global internal audit standards.
This external assessment is part of FAA’s core consulting services aimed at enhancing governance and oversight practices. Faisal Kazim, director of FAA’s Consulting & Business Excellence Department, emphasized the importance of independent quality assurance assessments.
Talal Al Hashmi, CDA’s internal audit and risk management director, stated that this external assessment represents a valuable addition to their continuous development journey.
The review was conducted against global internal audit standards and is required at least once every five years. This move reflects a commitment to improving governance and risk management within the UAE.
As tensions rise in the region, the UAE’s oil export facilities have recently been targeted by Iran. Within hours, US airforce jets were scrambled over UAE and other Gulf states to conduct combat air patrols. Observers note that Brent oil prices surged due to market worries about escalating conflict.
According to a source, Dubai expects US/Israeli strikes on Iran within the next 24 hours. The situation remains fluid as officials monitor developments closely.
