These included “justice,” “nationalization,” “competitiveness,” and “human resources.”

«Finance» launches the second phase of the project to transform the federal government to the accrual basis of accounting

Yesterday, the Ministry of Finance announced its success in launching the entities of the second phase of the project to transform the federal government into the basis of accrual accounting, which is an important step that contributes to raising the efficiency of preparing the federal budget and levels of public financial management in the UAE, in continuation of the path of success it achieved in launching The entities of the first stage in the past period, and based on their efforts to raise the effectiveness of financial planning in the country in accordance with international best practices.

The second phase of the project included: the Ministry of Justice, the Ministry of Human Resources and Emiratisation, the Federal Authority for Competitiveness and Statistics, and the Federal Authority for Government Human Resources.

Launching the project

The Minister of State for Financial Affairs, Obaid bin Humaid Al Tayer, stressed in a statement yesterday the importance of launching the project as a turning point in achieving the strategic goal of the Ministry of Finance, which is to "raise the efficiency and effectiveness of budget implementation and manage the financial position and cash flows of the federal government", in accordance with best practices. Global approved in this field.

He indicated that the federal government is about to reach the final launch stage, through which the accrual accounting basis of the federal government will be fully activated, as only the third group entities remain, which are scheduled to be launched at the beginning of 2021 according to the approved transformation plan.

Al Tayer said: “The Ministry of Finance is keen to continue cooperation and coordination with the various federal authorities, to improve the levels of government work, and to enhance the efficiency of resource management in accordance with the best international standards, in order to enhance the country's leading position in various indicators of global competitiveness, through the application of the principle of accounting accrual. This is a tangible indication of the position of the UAE government among the world's leading governments in applying the best management methodologies and governmental accounting standards. ”

Work teams

He added, "The credit for achieving this success is due to the efforts made by the work teams at the Ministry of Finance, in cooperation with all federal authorities, in implementing and launching this project."

He explained that «continuous training has a great role in this success, as the Ministry has organized interactive sessions and training workshops remotely using visual technologies and modern electronic training means, out of its keenness to provide flexible and innovative solutions to ensure the continuity of training during crises, and raise the efficiency and performance Workers in ministries and federal entities in the project of converting to the accrual basis of accounting ».

Training workshops

For its part, the Assistant Undersecretary for Public Financial Management Affairs, Maryam Muhammad Al-Amiri, stressed the importance of holding these training workshops, as they have a great role in raising the efficiency of specialized employees in federal agencies on the various activities and accounting standards related to the accounting transformation project.

Al-Amiri said: “The Ministry of Finance is keen to continue cooperation and communication with all federal authorities in the country, to ensure the success of the accounting transformation project, given its great importance in raising the efficiency of the accounting staff to prepare financial statements on the basis of accounting accrual, which strengthens the position of the UAE on many Related global indicators ».

Remote spraying

Finally, the Ministry of Finance held remote training workshops on the federal government’s shift from the amended cash basis to the accrual basis, as part of its efforts to develop government financial work and raise the level of performance and efficiency of all federal government agencies, by applying the best accounting methodologies. Government based on international standards.

The workshops aimed to raise awareness about the federal government’s accounting transformation project, which is part of an integrated program to develop competencies and experiences in the federal government.

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