Ministry Of Finance Organises Financial Data Forum 2025 To Enhance Reporting Standards

The Ministry of Finance (MoF) hosted the Financial Data Forum 2025 in Abu Dhabi. The event focused on preparing financial statements for federal entities for the fiscal year ending 31st December 2025. It emphasised applying the latest International Public Sector Accounting Standards (IPSAS) and highlighted key updates to the financial circular on statement preparation.

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, and Mariam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector, were present. Several assistant undersecretaries, financial managers, and finance specialists from federal entities also attended. The UAE Accountability Authority (UAEAA) participated alongside accounting and finance students from various universities.

Mariam Al Amiri stated, "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 further explained that involving graduates from both public and private universities underscores their commitment to investing in human capital. This initiative aims to empower national talent by exposing them to best practices and international experiences. It serves as a crucial link between academic learning and professional application, fostering qualified national cadres for future leadership roles.

The forum featured interactive sessions addressing various aspects of financial statement preparation. It commenced with an opening podcast session led by Mariam Al Amiri. This session delved into public finance development within the federal government, covering accounting advancements and digital transformation efforts to enhance federal financial systems' accuracy.

A specialised knowledge-sharing session followed, focusing on new IPSAS standards (41, 42, 43, and 44) implemented this year. This session examined compliance requirements and their impact on federal financial reporting. Practical case studies and global best practices were presented to provide deeper insights into these standards.

Emphasising Compliance and Best Practices

The forum included a presentation on Financial Circular No. (5) of 2025 regarding instructions for preparing draft final accounts of federal entities. This presentation reviewed updates to presentation and disclosure requirements while stressing adherence to submission deadlines for accurate final accounts.

The UAE Accountability Authority highlighted its audit requirements role in supporting quality financial data. The forum also introduced university students to procedures aligning with best practices in statement preparation. This created a platform for direct communication between officials and students.

This engagement aimed to align academic outputs with practical government sector needs while encouraging dialogue about the profession's future. It highlighted youth's role in enhancing efficiency and sustainability within the UAE's financial ecosystem.

The Ministry of Finance remains committed to adopting international best practices in public financial management. Through specialised training programmes, it aims to build capacities ensuring continuous learning development sustainability.

With inputs from WAM