ACFE News

His Excellency Al Huraiz and FAD tackle Dubai fraud



Fraud Magazine recently interviewed His Excellency Abdulla Mohammed Al Huraiz, Deputy Director General, Financial Audit Department, Government of Dubai, about FAD's anti-fraud efforts and its cooperation with the ACFE.

What are some specific ways the Financial Audit Department (FAD) fights fraud in Dubai?        
       In pursuance of FAD's Law No. 8 of the year 2010 as amended, FAD exercises the power of investigation of incidents related to embezzlement, negligence and financial and administrative contravention whether discovered by the FAD or the entities subject to audit, and quest the reasons that led to their occurrence and take suitable actions for remedy.

The FAD now turns to recommend corrective actions and reform options open to entities subject to audit to reduce fraud and mitigate its effects by closing off loopholes. These recommendations and options include and are not limited to tightening and promoting effective internal controls within the entities subject to audit, establishing fraud policy, enhancing corporate governance, creating an employee awareness, creating transparency in government spending, eliminating programs and practices that proliferate corruption whenever possible, and the use of technologies.

Do you have some statistics about types of prevalent fraud in Dubai? 
      There are no specific statistics; however, there are many types of prevalent fraud in Dubai. Examples of fraud include but are not limited to financial statements misrepresentation, embezzlement of funds, profiting illegally, information misrepresentation, forgery in official documents, taking advantage of position, accepting and requesting bribes, misuse of management and credit, waste, conflict of interest, tax and customs evasion, and leaking of confidential information.

What are your goals for tackling fraud in Dubai? 
      Fundamentally, fraud will not be tolerated and it is a serious crime; and those who defraud the system will be punished according to our laws. FAD is working closely with all its partners to reduce fraud and pursue those responsible. Further, we need to ensure that we have the best possible structures in place, highlight areas where there is a need for greater collaboration between subject entities, and develop an integrated risk management by targeting the high-risk areas to tackle fraud.

Our goal for tackling fraud in Dubai is to establish a zero tolerance culture across the entities subject to audit, where every employee recognizes the threat from fraud and understands his or her role in how best to tackle it.

Why did the FAD decide to join the ACFE Law Enforcement & Government Partnership? What are your goals for FAD employees becoming Certified Fraud Examiners? 
      By learning the standards of professional excellence in the anti-fraud profession, our staff can better assess fraud risks identified and establish anti-fraud culture across the entities subject to audit.

Earlier this year, James D. Ratley, CFE, president and CEO of the ACFE, was on hand in Dubai to present certificates to new CFEs at the FAD. The FAD has made it a priority to train staff to become Certified Fraud Examiners and has already sent nearly 50 employees to CFE Exam Review Courses. Why is this important to the FAD? What results have you seen from this commitment to ongoing anti-fraud education for your team members? 
      By learning fraud detection and deterrence, which the CFE credential provides, FAD's staff becomes more equipped and qualified as we have seen to exercise the power of investigation of incidents related to embezzlement, negligence, financial and administrative contravention, question the reasons that led to their occurrence and take suitable actions for remedy.

Why did the FAD decide to host the upcoming 2016 ACFE Middle East Fraud Conference and commit to sending a significant contingent to attend the inaugural event? 
      Anti-fraud collaboration is a mutual responsibility between FAD and the auditees; thereupon, FAD was keen to host the 2016 ACFE Middle East Fraud Conference in Dubai to encourage all auditees to share the responsibility of anti-fraud and to be equipped with international skills.

His Highness Sheikh Maktoum Bin Mohammed Bin Rashed, the Deputy Ruler of Dubai, has mandated that the 2016 ACFE Middle East Fraud Conference "be a reflection of the images of the FAD, Dubai, and the UAE." What are some ways the FAD is planning to fulfill that vision? 
      The vision of the FAD is to achieve more transparency, objectivity and integrity in managing public funds, so supporting an anti-fraud mission with international professionalism is essential to achieve FAD's vision. Therefore, the hosting of the upcoming ACFE fraud conference will definitely substantiate the vision of anti-fraud in Dubai and thus be a reflection of the images of the FAD, Dubai and the UAE as a whole.

Read more about how the FAD and ACFE are fighting fraud together.





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