The United Arab Emirates’ Ministry of Finance has unveiled a new certification program in International Public Sector Accounting Standards , developed in partnership with the Association of Chartered Certified Accountants . This initiative aims to enhance the financial acumen of federal government employees, aligning the nation’s public sector accounting practices with globally recognized standards.
The IPSAS certification program commenced with an inaugural training session in Dubai on 17 February 2025. This session marked the beginning of a comprehensive effort to equip finance professionals within the UAE’s federal entities with the necessary skills to implement accrual-based accounting effectively. By adopting these standards, the MoF seeks to improve the quality, consistency, and transparency of financial reporting across public sector institutions.
H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, emphasized the significance of this collaboration, stating that it reflects the ministry’s commitment to fostering strategic partnerships and reinforcing its position as a global leader in public finance. He highlighted that the adoption of IPSAS is a critical step towards achieving financial sustainability and enhancing the efficiency of government financial operations.
The partnership with ACCA is particularly noteworthy, as the association is renowned for its expertise in accounting certifications worldwide. The ACCA’s Certificate in International Public Sector Accounting Standards is designed to provide participants with a thorough understanding of IPSAS, covering various aspects such as financial statement presentation, accounting policies, and the treatment of assets and liabilities. The program also delves into the nuances of financial performance, consolidation, and the disclosure of financial information, ensuring that participants are well-versed in the comprehensive application of these standards.
In addition to the IPSAS certification, the MoF has signed a Memorandum of Understanding with the American University in Dubai to launch an Executive Diploma Program in Government Financial Policy Sustainability. Scheduled for the 2024-2025 academic year, this diploma aims to delve into topics such as financial sustainability, emerging trends in government finance, and the impact of artificial intelligence on financial analysis. Dr. Kyle Long of AUD expressed enthusiasm about the collaboration, noting that it has the potential to transform financial management within federal agencies and prepare professionals to tackle contemporary challenges.
The MoF’s dual approach—offering both the IPSAS certification and the executive diploma—underscores its dedication to building a robust financial framework within the UAE’s public sector. By investing in the education and training of its financial workforce, the ministry aims to ensure that government entities are not only compliant with international standards but are also pioneers in adopting innovative financial practices.
This initiative is part of a broader strategy by the UAE government to modernize its financial systems and promote transparency. By aligning with international accounting standards, the UAE aims to enhance investor confidence and foster a more attractive environment for foreign investments. Moreover, the adoption of IPSAS is expected to facilitate better decision-making processes within government entities, as accurate and transparent financial information is crucial for effective policy formulation and implementation.
The training sessions are structured to provide participants with both theoretical knowledge and practical applications of IPSAS. Through case studies, interactive exercises, and real-world examples, attendees will gain insights into the challenges and solutions associated with implementing these standards. The program also offers a platform for finance professionals to engage in discussions, share experiences, and develop a network of peers committed to advancing public sector financial management.
Malik Sarieddine of ACCA highlighted the importance of this certification, stating that it equips finance professionals with the necessary tools to lead initiatives aligned with global standards. He emphasized that the training will enable participants to navigate the complexities of public sector accounting, ensuring that financial reports are both accurate and reflective of the true financial position of government entities.
The MoF’s commitment to continuous improvement is evident in its proactive approach to adopting international best practices. By collaborating with esteemed institutions like ACCA and AUD, the ministry is taking concrete steps to elevate the proficiency of its financial professionals. This, in turn, is expected to lead to more efficient public spending, improved resource allocation, and enhanced public trust in government financial operations.
