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Dubai: In its efforts to adhere to global best practices and to promote segregation of duties, the Ministry of Finance (MoF) recently organised an introductory workshop on segregation of duties for the federal financial system and its implementation framework at the InterContinental Dubai Festival City.
The workshop was attended by directors from the ministry, as well as representatives from federal authorities, who deliberated the basic guidelines and instructions around segregation of duties.
H.E. Mariam Al Amiri, Under Secretary Financial Management Sector said: “The Ministry of Finance has established a Segregation of Duties (SoD) system, to enable all federal government entities in the UAE to promote integrity, accuracy, transparency, accountability and internal control. This system is part of the ministry's commitment to manage the federal government's financial resources efficiently, which enhances sustainability.”
During the first half of the workshop, a detailed definition of the concept and rules of segregation of duties and its importance in terms of accountability, avoiding risks and increasing the effectiveness of the audit process was introduced. Additionally, a discussion around the governance of segregation of duties and the Segregation of Duties (SoD) system manual, which includes a set of over 200 checks and balances, was also undertaken.
The second half of the workshop comprised the process of requesting duties, the procedures requested by the federal authorities and the standardized system provided by the Ministry of Finance to receive inquiries and complaints. The latter were reviewed to be resolved in record time, to ensure effective and efficient customer service.
The SoD system includes an integrated process to promote effective governance, first and foremost of which was the SoD Manual, which is mandatory for all government entities using the Federal Financial Management Information System (FMIS) for their financial, procurement and payroll transactions.
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