Other languages
The list of "Other" languages” listed above use Google Translate to create an automated translation of content for the purpose of display. Accuracy of automated content translation is not guaranteed.
—
The Ministry of Finance manages the federal government’s cash flow and expenditures. Financial sustainability serves as a cornerstone of the Ministry’s strategy in overseeing the federal government’s financial position. Its responsibilities include strategic planning for public finances in the UAE, with the goal of achieving long-term sustainability through the implementation of advanced financial policies and systems.
MoF has developed a comprehensive set of rules and procedures that regulate financial transactions across federal entities, establishing an integrated and consolidated financial framework for all federal government entities. This framework is designed to promote public financial sustainability by diversifying revenue sources, enhancing transparency in the management of financial resources, and increasing the flexibility of financial practices. It also ensures the maintenance of safe levels of federal debt, reinforces trust in the financial system, and accelerates the country’s sustainable development journey.
MoF is committed to enhancing the efficiency of decision-making by providing accurate, reliable financial data and delivering strategic recommendations to relevant authorities. To support this goal, the Ministry prioritises the preparation of high-quality financial reports and the implementation of advanced accounting systems that ensure data accuracy and integrity.
These systems are regularly reviewed and aligned with international financial standards, including the International Public Sector Accounting Standards (IPSAS). In addition, MoF remains dedicated to continuously updating its financial policies and procedures to maintain efficiency, transparency, and compliance with global best practices.
Submitting the trial balance on monthly basis, along with the closing list and explanations, to the relevant financial controller at the Ministry of Finance. (monthly)
Implementing the monthly closing procedures after the federal entity has completed closing its books, to ensure closing settlement. (monthly)
Issuing the Annual Financial Circular. Sending the circular to all federal entities and holding an annual discussion forum. (By the end of October)
Preparing separate financial statements for their respective entities as a prerequisite to initiate the auditing process. (January of the following year)
Auditing Financial Statements. UAEAA conducts audits of separate financial statements for federal entities. (From January 27 to February 20)
Reviewing clarifications and initiating the preparation of the consolidated financial statements. Receiving the financial statements from entities and reviewing detailed clarifications to prepare a consolidated final account. (January 27 – February 20)
Amending the final account and sending a revised final account (if necessary). Federal entities submit a final account. (End of February)
Final professional opinion. UAEAA sends its final professional opinion on the financial statements of federal entities. (March 15 – March 30)
Financial statements are prepared for each federal entity and submitted to the UAEAA. (March 17)
Preparing consolidated financial statements for the federal government. Submitting the statements to the UAEAA and submitting the draft law to the Cabinet and the Federal National Council. (April)
Governance is a key factor in the UAE financial systems management. It contributes to enhancing transparency, accountability, and efficiency in the management of government resources. A robust governance framework builds trust and encourages the sustainable and efficient use of government resources, contributing to accelerating national development.
You can help us improve by providing your feedback about your experience.
Have you recently used our services online or at our service centre?
We use cookies to improve your experience on our site. By using our website, you’re agreeing to the collection of data as described in our Privacy Policy.
