State Audit Institute (SAI) is an independent organisation which is aimed at conducting research in the financial sector of different companies to check their performance. The main purpose of this organisation is to make sure that the company functions according to the current legislation and the financial situation in the company is safe. Being the central organisation in the country which has the specialists of the highest range, SAI has an opportunity to conduct an audit of different kind with various goals and in different organisations.
According to the company mission, it aims to “safeguard public funds and assist the Federal Government in improving public sector governance and performance standards and to grow Emirati professional capabilities” (State Audition Institute, 2011). The company attempts to fulfil the duties it has before the legislation and tries to achieve its objectives via performing its obligations. It should be noted that the fundamental priorities of the company make it play a crucial oversight role “when it comes to federal and local government operations in UAE” (Ibrahim, 2010, p. 464).
The wide range of objectives and the opportunities SAI has, allows it to provide the following work, regularity audit, performance audit, investigation and information system audit. Regularity audit is a kind of control which is provided annually in the specific companies, obligatory for all Federal Government Organisations. Performance audit is aimed at tasting the performance and efficiency of the part or all activities of the company. Investigation takes place when the case of financial violation is identified, where one of the main goals is to detect wasted money or illegally spent funds. Information system audit is considered to be the central kind of audit for the company as it helps to implement control of performance and financial audit (Profile, 2011).
Being an independent organisation, SAI has an opportunity to audit such organisations as Ministers and Departments of Federal Government, Federal Nation Council, different public organisations accounted to the government, other companies where the government share comprises at least 25%, the organisations which are subsidised by the country, or any organisation which needs independent opinion about its financial situation (Profile, 2011).
To achieve the goals the company sets, it is important to employ highly professional staff. Apart from auditors, the company offers jobs in administration sphere, finance, human resources, IT, etc. (State Audition Institute, 2011). One of the main priorities for SAI is the training opportunities it offers. The organisation cares greatly of graduates and tries to give those as many opportunities for employment as it can (Profile, 2011). A lot of graduates in accounting and financing can find jobs in SAI if their qualities and professional skills and knowledge satisfy the company demand. Moreover, the professional development programs give employees an opportunity to study abroad, for example, for Master of Science in accounting offered by UK University or for Graduate Certificate in Performance Audit in Australia, etc (State Audition Institute, 2011).
Thus, it may be concluded that SAI is an independent company which is aimed at providing different kinds of audit in the country. Functioning for the sake of the country, it offers great possibilities for the graduates and provides training programs for its employees all over the world. Being considered as one of the best audit institutions in the world, the company always improves its performance by means to employing the best professionals in the sphere.
Reference List
Ibrahim, M. (2010). State Audit Institution in United Arab Emirates. International Journal of Law and Management, 52(6), 464-468.
Profile. (2011). United Arab Emirates State Audition Institute. Web.
State Audition Institute. (2011). Web.