Director General calls for consolidating corporate governance principles inside Emirates ID

H.E. Dr. Eng. Ali Mohamed Al Khouri, Emirates ID Director General, has called for working diligently and taking all procedures that will contribute to consolidating the principles of corporate governance inside the Emirates Identity Authority in such a manner that ensures the achievement of its objectives in the best way possible.

While chairing the first meeting of the corporate governance committee, which was formed recently, Al Khouri underlined the importance of familiarizing all departments, sections and centers with the concepts and principles of corporate governance as well as their application requirements, objectives and importance for reducing the operating costs of all the Emirates Identity Authority’s operations through constant endeavors to rationalize spending.

The meeting decided to entrust the Planning and Quality Department with the task of monitoring compliance with the methodologies applicable inside the Emirates Identity Authority and submitting regular reports in this connection, while the Internal Control Department was assigned to monitor the Emirates Identity Authority’s compliance with the laws, rules, regulations, decisions and instructions.

The meeting agreed to start storing the Emirates Identity Authority’s previous final financial statements between 2005 and 2010 on Oracle system with the aim of providing all the Emirates Identity Authority’s financial statements in a computerized way on the system so as to be an essential reference for interested people in future.

The committee underlined the necessity for tracking the documentary work cycle through the Enterprise Resource Planning (E.R.P) System, determining the duration for keeping transactions in each department, knowing the reasons for delay, suggesting the appropriate solutions and preparing completion certificates for all suppliers as soon as possible.

The meeting also discussed a number of topics including the preparation of the Emirates Identity Authority’s final financial statements for the past year 2011 and the final settlements expected to be completed by the end of February for submission to the competent entities.