Home Business & Finance #RTADubai: Governance practices measure up to international audit standards

#RTADubai: Governance practices measure up to international audit standards

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DUBAI: Dubai’s Roads and Transport Authority (RTA) has obtained international certification of its governance standards in accountability & monitoring, rendering them compatible with the highest international audit standards. The certificate has been awarded by the UK-based American PricewaterhouseCoopers (PwC); an internal audit specialist of government entities.

HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of RTA, praised the achievement as it reflects the compliance of the RTA with the highest internal audit standards. He noted that the certificate would raise RTA’s transparency and governance in monitoring operational, services and administrative processes to the highest levels.

Al Tayer made these remarks upon receiving the certificate from Abdullah Al Jawi, Director of Internal Audit, in the presence of several concerned staff of RTA.

“The assessment results carried out by the consultant company proved that RTA’s audit practices were fully compatible with the international audit standards; which is the highest obtainable compatibility rating,” said Al Jawi.

“The RTA has carried out several benchmarks to achieve this target with two international firms and four local companies in addition to the global internal audit network comprising construction, transportation and government sectors. Such network entails benchmarking information for all companies with which the RTA had made benchmarks,” he added.

The awarding of this certificate echoes RTA’s perception of the importance of boosting corporate governance and taking a leading role in this field globally. It requires adopting top professional standards of internal audit prescribed by the Institute of Internal Auditors. Such compliance will contribute to realising RTA’s seventh strategic goal (RTA Excellence).

“The certificate reflects the maturity level achieved by RTA’s internal audit in line with PwC’s model. This achievement has been made for the third time, as it had been achieved from 2012 to 2015; which underscores our commitment to provide a high-quality monitoring environment,” added Al Jawi. BIZ TODAY MONITOR

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