Dubai: The Roads and Transport Authority (RTA) in Dubai has become the first government entity in the emirate to release audited financial statements conforming to international public sector accounting standards set by the New York-based Association of International Accountants.
Ahmad Al Kaabi, executive director of finance in the corporate administrative support services sector of the RTA said: “The system improves the transparency of our reports and facilitates the issuance of consolidated financial statements across Dubai Government.
“RTA’s Department of Finance is keen to adopt top international standards in all operational processes. It also enabled RTA to automate 30 procedures in various sections including budget, accounts, financial audit, treasury, revenues, costs, financial studies and collection, which has cut the number of visiting clients. RTA has also introduced the automated asset numbering and registration system (ATS) and the registration of invoices according to the eligibility system among other achievements contributing to our Smart Financial Management initiative,” he added.