Abu Dhabi widens transparency net as it rolls out next phase of financial disclosures system
Senior officials have to provide annual updates on financial resources, including family's
Dubai: The Abu Dhabi Accountability Authority is finalizing the fourth stage of a financial disclosure system for senior government employees in the emirate. The aim is to increase accountability and transparency at the highest levels within public sector enterprises.
“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,” ADAA said in a statement.
The three earlier stages were completed with around 1,500 of Abu Dhabi’s government seniors, including chairpersons of government departments, followed by the undersecretaries, and operational management personnel. Launched immediately following the first three stages, the fourth is ‘underway and will cover senior employees of all government entities and companies in Abu Dhabi included in the system’.
The financial disclosure system uses an e-platform developed and managed by qualified tech personnel in cooperation with G42, the Abu Dhabi based holding company. “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,” the statement added.
How the system works:
- Employees must disclose their financial income annually upon assuming their role and upon the end of their service.
- The disclosure declaration form includes job positions and memberships’ info, family reporting (including for minors), financial statements within and outside the UAE, all info pertaining to personal companies, commercial, financial and professional businesses within and outside the UAE, real estate investments and valuable movable items.