Today's Edition
ABU DHABI (ALETIHAD)
The Ministry of Finance (MoF) has organised the Financial Data Forum 2025 in Abu Dhabi to discuss the preparation of financial statements for federal entities for the fiscal year ending on December 31, 2025, focusing on the application of the latest International Public Sector Accounting Standards (IPSAS) and highlighting key updates to the financial circular on financial statement preparation.
The event was attended by Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, and Mariam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector, along with several assistant undersecretaries, financial managers, and finance specialists from federal entities.
The forum also saw the participation of the UAE Accountability Authority (UAEAA) and a group of accounting and finance students from public and private universities.
Mariam Al Amiri said, “Organising this forum reflects the MoF’s vision to build a federal financial environment founded on the principles of governance and transparency, in line with the best international practices. Discussing accounting developments and financial updates aligns with the UAE’s direction to enhance financial efficiency and achieve the highest levels of accuracy in reporting, thereby consolidating the country’s position as a leading global model in public financial management.”
She added, “Engaging graduates in accounting and finance from public and private universities in this forum reflects our belief in the importance of investing in human capital and empowering national talent to learn from the best practices and leading international experiences. This represents a vital bridge between academic education and professional application, supporting the development of qualified national cadres capable of leading the future of the public and private financial sectors.”
She concluded, “The Ministry of Finance continues its efforts to adopt international best practices in public financial management and to build financial and accounting capacities through specialised training programmes that ensure the sustainability and continuity of learning and development.”
The forum featured interactive and discussion sessions covering various aspects related to the preparation of financial statements. It began with an opening podcast session with Mariam Al Amiri, which included an in-depth discussion on the development of public finance within the federal government, including accounting and digital transformation and the continuous enhancement of federal financial systems to ensure accuracy in preparing financial statements.
This was followed by a specialised knowledge-sharing session that analysed the new International Public Sector Accounting Standards (IPSAS 41, 42, 43, and 44) being implemented this year. The session focused on compliance requirements, their direct implications for federal financial reporting, and presented practical case studies and global best practices in this field.
The forum also included a detailed presentation on Financial Circular No. (5) of 2025, regarding the instructions for preparing the draft final accounts of federal entities (financial statements) and the draft consolidated final accounts (consolidated financial statements) for the fiscal year ending December 31, 2025.
The presentation reviewed the key updates to presentation and disclosure requirements and emphasised the importance of adhering to submission deadlines and procedures to ensure the accuracy of the federal government’s final accounts.
The UAE Accountability Authority also reviewed key audit requirements and its role in supporting the quality of financial data.
The forum introduced university students to financial statement preparation procedures in line with best practices, creating a direct communication platform between federal financial officials and students.
This provided an opportunity to enhance alignment between academic outputs and the practical needs of the government financial sector and fostered constructive dialogue on the future of the profession and the role of youth in supporting the efficiency and sustainability of the UAE’s financial ecosystem.
