العربية Ministry of Finance Launches Financial and Accounting Sustainability Capacity Building Project for Federal Government Employees 05 November 2024 The Ministry of Finance (MoF) has launched the Financial Sustainability and Accounting Capacity Building Programme to enhance financial sustainability and boost the financial and accounting skills of federal government employees. Aligned with the Government Partnership and Integration System, which seeks to establish strategic partnerships with leading international and local organisations, the programme aims to strengthen financial policies and implement government accounting standards according to global best practices. The ambitious project reflects the Ministry’s vision to achieve excellence and leadership in financial management on a global scale. Strengthening Competencies H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Finance, emphasised that the Financial Sustainability and Accounting Capacity Building Programme is part of the Ministry's ongoing efforts to improve financial management efficiency. “The launch of this project is a significant step forward in MoF’s efforts to strengthen the financial and accounting skills of government employees. By partnering with leading international and local educational institutions, we aim to equip federal employees with the latest knowledge in international financial standards and best practices in government financial management, thereby enhancing financial sustainability, transparency, and accountability in public finance administration,” he stated. His Excellency added: “Through this initiative, we reaffirm our commitment to developing a financial and accounting environment based on efficiency, innovation, artificial intelligence, and digital transformation as we work to enhance the analytical capabilities of financial staff through specialised programs. We look forward to these initiatives contributing to achieving our strategic objectives to support the sustainable growth and development of the government's financial management at the federal level.” Project Objectives The project aligns with the Government Partnership and Integration System and aims to achieve several key objectives. These include enhancing the financial and analytical accounting capabilities of accountants and financial managers within the federal government, fostering proactive partnerships to secure global leadership in public finance and sustainable development, launching specialised educational programs, and strengthening strategic partnerships with prestigious academic institutions. This initiative seeks to develop accounting skills in accordance with international standards and to implement International Public Sector Accounting Standards (IPSAS). Benchmarking and International Partnerships The Ministry has conducted comprehensive studies and benchmarking with leading universities and academic institutions both internationally and locally. This is to establish memoranda of partnership and offer specialised executive programs that adhere to the highest international standards, along with professional diplomas in government accounting and financial sustainability, thereby enhancing the professional competence of federal government employees in finance and accounting. The Ministry also announced it has reached cooperation and partnership agreements with several international universities to launch quality programs. These include a collaboration with the American University in Dubai to introduce an executive diploma in the sustainability of government financial policies and with the British Association of Chartered Certified Accountants (ACCA) to offer a specialised certificate for International Public Sector Accounting Standards (CERT IPSAS) and a Certificate in Sustainability for Finance (CERT SF) scheduled for 2024 and 2025. The Ministry reaffirmed its commitment to developing and qualifying financial and accounting cadres in the federal government. A comprehensive survey was conducted across all federal government entities to identify candidates for these professional programs and diplomas. This reflects the Ministry's dedication to providing the highest standards of training and qualification to ensure the utmost efficiency among all financial and accounting personnel.
