ADAA to implement 4th phase of financial disclosure system for senior Abu Dhabi government employees

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ABU DHABI, The Abu Dhabi Accountability Authority (ADAA) is working to finalise the implementation of the fourth stage of the financial disclosure system for senior Abu Dhabi government employees.

The system comes as part of Abu Dhabi’s visionary leadership to increase governance, accountability and transparency, in line with global best practices to underpin the emirate’s economic development and growth. Fourth stage of the system is underway and will cover all government entities and companies included in the system.

ADAA noted that the stages were completed with around 1500 of Abu Dhabi’s government seniors including the chairpersons of government departments, followed by the undersecretaries of government departments, and subsequently the broader operational management personnel across the government.

The financial disclosure system was implemented with highest levels of accuracy, quality and discretion, using an advanced electronic platform developed and managed by qualified national cadres in cooperation with G42, a leading company in the field of information technology and artificial intelligence.

The intent is to develop a strong institutional governance system and support ADAA’s mandate to establish clear foundations and controls for institutional transparency, enhancing public confidence and establish a new concept in the government ecosystem, as financial disclosure is a well-established practice in financial institutions, governments and other public and private sector institutions in various countries of the world, as it contributes to increased public confidence.

The system aims to enhance the principles of integrity and transparency among government employees by disclosing their financial income annually upon assuming their role and upon the end of their service. The disclosure declaration form includes job positions and memberships information, family reporting including minor children, financial statements within and outside the UAE, all information pertaining to personal companies, commercial, financial and professional businesses within and outside the UAE, real estate investments and valuable movable items.

The execution of this system is creating a qualitative leap across government work in Abu Dhabi, strengthening foundational integrity and transparency to enhance confidence. It also effectively contributes to raise Abu Dhabi’s ranking and the country across the most notable global integrity and transparency indicators, to amplify the emirate as a safe investment destination boasting quality, efficiency, and integrity of work as a major attraction for foreign investors.

The next five years will witness a major leap in the concept of disclosure, which will become one of the principles of institutional culture and part of the government work system, government companies and the private sector.

Source: Emirates News Agency