UAE, 22 October, 2024 : The UAE Ministry of Finance (MoF) held the "Annual Forum on the Preparation of Financial Statements for Federal Entities for Fiscal Year 2024" in Dubai, focusing on enhancing government financial operations and improving the performance of federal entities. The event was attended by Mariam Mohammed Al Amiri, Assistant Under-Secretary for Government Financial Management, along with representatives from relevant sectors and internal auditors from federal authorities.
Discussions centered on the critical role of financial statements in shaping financial policies and planning for decision-makers, emphasizing the accounting standards that guide these statements. The forum also highlighted the preparation of financial statements in line with Financial Circular No. 15 of 2024 and reviewed the UAE State Audit Institution's role in overseeing financial statements.
Al Amiri stated that the forum reflects the Ministry's commitment to improving the financial efficiency of the federal government and developing the accounting capabilities of federal entities. She noted that accurate financial statements are vital for decision-making and sustainable development in the UAE.
The forum included an interactive session discussing consolidated financial statements and underscored the importance of accurate financial data for fiscal year 2024. It also covered updates on procedures for closing accounting ledgers and the role of federal entities in updating their policies and procedures manuals.
Additionally, the forum featured case studies on financial statement preparation, with Ministry specialists addressing questions and inquiries from federal entity representatives, fostering collaboration and knowledge sharing among participants.
Source : www.zawya.com
