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ADCCI Application Of Governance Systems

Abu Dhabi Chamber of Commerce and Industry announced on the application of systems of governance and commitment to the best standards of work . HE Eng Salah Salem bin Omeir Al Shamsi, Chairman of the UAE Federation of Chambers of Commerce and Industry president of Abu Dhabi Chamber of Commerce and Industry said in a press statement on this occasion that the application of systems of governance in the chamber was the belief of the Chamber of the importance of using systems of governance which is an essential tool to improve performance and establish the values of justice, responsibility and transparency and ensure the integrity of transactions and the use of resources more efficiently to ensure the continuity of the chamber to provide services at the highest level and in the interests of its members from the employers and the process of comprehensive development in the Emirate of Abu Dhabi. The statement stressed the Chamber’s board of directors on the implementation of governance systems in the chamber by assigning the executive management of the Chamber of the application of such regulations in the preparation and review of internal regulations and follow the best principles of professional management at all levels , so there is a review and evaluation and continuous update of the governance systems in place in the chamber. The text of the statement of the Council of the Chamber stipulated on the application of systems of governance on the independence of the chamber board of directors and members of executive management, and on the principle of disclosure and transparency, including its disclosure of material information in a timely and appropriate disclosure of financial and administrative position and performance of the chamber as well as the application of international accounting in the accounting records and prepare financial statements and comply with policies and applicable laws and relevant force in the UAE. The statement also stipulated on the obligation to care for the interests of the chamber and the strategic planning of its work and building their future and the development of internal control systems to ensure the reduction of risks associated with operations to achieve the objectives set, in addition to the continued development of knowledge and skills needed by the board of directors and to ensure the active participation of all its members. In order to achieve the terms of this statement , three specialized committees have been formed emanating from the Chamber board of directors .i.e. the Commission for the nomination and governance which is responsible for the follow-up and implementation of systems of governance and the selection of members of the Chamber committees emanating from of the board, and the Commission on the follow-up and rewards , which works on the provision of advice and guidance to board Council management and the assessment committee which reviews all financial reports and final accounts and audit control systems and the work of the external and internal audit.

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