Abu Dhabi Accountability Authority (ADAA) has updated the Internal Audit Rules for entities under its mandate.
The revision sets requirements for continuous audits of financial and operational activities, mandates risk assessments linked to previous audit findings and strategic objectives, adds a role for internal audit in selecting statutory auditors and monitoring their reports, specifies performance metrics for internal audit units, introduces rules for appointment of external audit firms, and promotes use of digital tools and data analytics in audit outcomes.
The revised rules replace the first version issued in 2021. ADAA says the changes aim to improve governance, accountability, oversight of public resources and the effectiveness of internal controls.
