Menu
Useful Links
ADAA's Governance

ADAA aims at earning the trust of its stakeholders and sustaining it through adopting and implementing the highest standards of accountability and transparency and issues its Governance Report accordingly.
In this report, ADAA follows a set of guiding principles, regulations, ideal fundamentals and processes that are integrated under the following main components of governance:

  • Leadership
  • Institutionalization
  • Performance Management
  • Control
  • External Reports
Leadership

ADAA ensures that all its processes and operations adhere to the utmost principles of transparency, whereby its Chairman has welcomed and adopted various channels of communication with the employees providing adequate communication relating to the overall strategy, ADAA’s yearly plan and its performance through events such as the Annual Meeting held in the beginning of every year as well as the monthly management meetings that cover different topics of importance and impact on ADAA’s work and verifies that the workflow is in line with the annual plan and is consistent with the vision and overall strategy of the Abu Dhabi Government.

Institutionalization

 ADAA developed a strategic planning framework based on its strategic priorities. ADAA also developed work methodologies for every output and service it provides in accordance with international best practices and is considered a guideline for ADAA’s actions and the provision of its services. These methodologies are constantly revisited and reviewed to ensure their validity and relevance to the current needs of Abu Dhabi and relative stakeholders.

 

Vision-Mission-Values.jpg

 
Performance Management

 ADAA’s performance is measured based on a set of internationally recognized performance metrics to ensure the objectivity of these measurements. ADAA has developed three types of performance measures as shown below:

  • Outcome Performance Indicators: to measure the impact of ADAA’s work on the state or condition of the society, the economy, or the environment and any change in that state or condition.
  • Output Performance Indicators: to measure the cost, quantity, quality and timeliness of our services (outputs).
  • Internal Performance Indicators: to measure the performance of ADAA internal departments and units.
 
Performance-Management.jpg

ADAA implements a remuneration policy and procedure for its employees as well as a performance management system that ensures fair evaluations of individual performance and identifies a clear career path and progression plan for each one.

ADAA employees are exposed to training programs and workshops that aim primarily at enhancing their capabilities, skills, knowledge and competence to grow within their careers.

ADAA considers communication a crucial and indispensable approach to measure its performance and achieve transparency with its stakeholders; be it Subject Entities or the general public. ADAA launched many initiatives to enhance awareness of its role and responsibilities that included launching its new identity and its official website www.adaa.abudhabi.ae along with other initiatives to improve the Accounting and Audit professions, and has created communication channels with its Subject Entities to encourage knowledge sharing such as the monthly e-newsletter "ADAA IFRS Digest", the e-maarifa web portal, Abu Dhabi Audit Management portal, in addition to networking seminars, workshops and panel discussions on new services and policies.


Subject Entities Feedback

ADAA seeks feedback from its Subject Entities on the review process executed after the issuance of each audit and assurance report. The feedback received constitutes an important guide to the effectiveness of existing practices and further developments that may be required.

Control

 Internal Control

ADAA annually reviews its internal controls, including financial, operational, compliance controls and risk management to ensure that its processes are in line with best practice, laws, rules and regulations through its internal audit function that follows international standards set forth in its "Internal Audit Manual".

ADAA also implemented a rigorous Code of Conduct safeguarding business and professional ethics and ensuring that all ADAA employees understand and abide by this code of conduct. Additionally, ADAA’s Compliance Officer is responsible for receiving and examining complaints related to employees and processes and presenting recommendations for necessary action.
All ADAA employees take the below mentioned oath before the ADAA Chairman upon joining the Authority as per Article (9) of Law (14) on the establishment of ADAA:

"I swear by almighty God to be loyal to the Ruler of the Country, to honor the constitution and law, to work to safeguard public funds, to perform my duties honestly and sincerely and to maintain the confidentiality of all business"


External Audit

ADAA’s financial statements are audited by an external auditor on an annual basis. For the year 2012, Ernst and Young were reappointed in accordance with Statutory Auditor Appointment Rules issued by ADAA for a fee of AED 89,000.

External Reports

 ADAA prepares an annual plan that contains its operational intentions, objectives and performance targets for the coming year. The plan also includes ADAA’s strategy, priorities, outputs, outcomes and performance measures.
In addition, ADAA prepares an annual report to provide information about the following:

  • Comparison of actual outputs against set targets; as well as other information necessary to assess ADAA’s performance during the financial year.
  • Governance Report.
  • ADAA’s annual financial statements accompanied by the Statutory Auditor’s report.