From Indiatimes.com: The Gulf Arab emirate of Abu Dhabi said on Saturday that it would create a state auditing unit that would look into the management of state funds and firms in which it owns more than a 50 per cent stake. Abu Dhabi, one of seven members of the United Arab Emirates, has the world’s largest sovereign wealth fund and is a shareholder in several local firms.

Among the goals of the watchdog is “increasing accountability and transparency in entities that fall under its jurisdiction”, according to a law creating the body cited by the official WAM news agency. …. Full Article: Source