The FAA rated the CDA as ‘Generally Conforms’ after the assessment, indicating high alignment with global internal audit standards. Faisal Kazim, director of FAA’s Consulting & Business Excellence Department, emphasized that “Delivering independent quality assurance assessments is a key part of FAA’s mandate to enhance governance and oversight across subject entities.” This external assessment is required at least once every five years according to global standards.

Talal Al Hashmi, CDA’s internal audit and risk management director, highlighted that “This external assessment represents a valuable addition to the continuous development journey at the Community Development Authority.” The FAA’s support extends to governance, risk management, compliance, internal control, and internal audit practices.

As the FAA focuses on improving oversight within Dubai’s government bodies, the backdrop of rising regional tensions complicates matters. The UAE’s oil export facilities have recently faced threats amid escalating conflicts with Iran. Reports indicate that US airforce jets have been scrambled over UAE airspace and other Gulf states to conduct combat air patrols.

Market reactions reflect these concerns; Brent oil prices surged due to fears surrounding potential military actions. Observers note that Dubai expects US and Israeli strikes on Iran within the next 24 hours, further heightening anxieties about stability in the region.

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