Dubai’s Financial Audit Authority (FAA) has completed its first internal audit quality review for the Community Development Authority (CDA) amid rising tensions in the region. The CDA received a rating of ‘Generally Conforms’, indicating high alignment with global internal audit standards.
The external assessment is part of FAA’s core consulting services to enhance governance and oversight practices. Faisal Kazim, director of FAA’s Consulting & Business Excellence Department, emphasized the importance of independent quality assurance assessments. He stated, “Delivering independent quality assurance assessments is a key part of FAA’s mandate to enhance governance and oversight across subject entities.”
CDA’s internal audit and risk management director, Talal Al Hashmi, highlighted the value of this external assessment for continuous development. He noted, “This external assessment represents a valuable addition to the continuous development journey at the Community Development Authority.” The review was assessed against global internal audit standards and is required at least once every five years.
Meanwhile, the UAE faces escalating tensions as Iran targeted oil export facilities. US airforce jets have been scrambled over UAE airspace to conduct combat air patrols. Brent oil prices surged due to market worries about the escalating conflict. Reports suggest Dubai expects US/Israeli strikes on Iran within the next 24 hours.
The situation remains fluid, with officials monitoring developments closely.
