Monday 11, January 2016

Dubai – MENA Herald: Dubai Electricity and Water Authority (DEWA) recently conducted a routine review of its corporate governance system to ensure that it is operating efficiently and effectively to achieve its goals. This supports the directives and policies of the government to improve Dubai’s position as a global hub for trade, finance and tourism, and develop it into the smartest city in the world. DEWA has been using an advanced governance system since 2008 to ensure transparency and accountability according to world-class standards of governance.

“In line with the Government of Dubai’s vision to foster transparency within government departments, enhance accountability, and improve government performance to further fuel the development of the UAE, DEWA is committed to adopting the highest governance standards, and building a government culture that upholds governance principles based on sustainability and innovation,” said HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority.

“DEWA recently conducted a periodic review of its corporate governance system to ensure its effectiveness, as part of its efforts to improve the efficiency and effectiveness of its systems and operations. This is based on its commitment to the principles of excellence and continuous improvement,” said Al Tayer.

“DEWA’s Corporate Governance System guide adheres to Dubai’s strategic plan. It features performance and supervisory systems, information on good citizenship, policies on social and environmental responsibilities, a file-maintenance policy, and information on how to apply these policies in the most efficient way,” added Al Tayer.

The modern governance system is based on transparency, integrity, justice, control and accountability. DEWA ensures that these are upheld by using ISO-compliant procedures that are closely supervised by the Internal Audit department, government auditors, and a corporate external audit conducted by a well-known international consultant. The internal audit report shows DEWA has effectively applied its governance system since it began.

In 2008, DEWA worked with an international consultant who helped DEWA establish a modern and advanced governance system. The first official work guide for the system was put into effect under the supervision of DEWA’s board of directors and senior management. DEWA is the first government utility in Dubai to adopt a modern and advanced governance system, enabling it to better deal with potential challenges.