Dubai PR Network, Online Press Release from Dubai and Middle East
Government Sector(Government, Legal & Humanity)
Filter PR by
MoF Raises the Unified Federal Final Account for Ministries and Federal Independent Authorities to the State Audit Institution
MoF Raises the Unified Federal Final Account for Ministries and Federal Independent Authorities to the State Audit Institution

Abu Dhabi, 23 April, 2013: The Ministry of Finance (MoF) recently announced the finalisation of the unified federal final account project and the related draft law for the financial year ending 31/12/2012 which pertains to the Ministries and Federal Independent Authorities and has raised it to the State Audit Institution on 15/04/2013 within the timeframe specified by the related decree.MoF's efforts are in support of the federal decree no (8) issued in 2011 regarding the preparation of the general budget and final account and in line with its commitment to further develop and increase the effectiveness of processes related to financial reports and statements in the federal government.

The aim behind the unified federal final account is to provide clear financial data reflecting the reality of the UAE's financial affairs, which in turn helps decision makers in allocating financial resources in order to ensure sustainable development and the implementation of the principles of the UAE vision 2021.Therefore, the competent departments specialised in internal audit in all federal entities are responsible for controlling the general budget and expenditures and to follow up on the performance and verifying the compliance with the related legislations.

The Ministry was keen to include the final statement of the State (Federal Final Account) data and information regarding budgeting and performance which reflects the goals, programmes and activities achieved and the performance indicators adopted in achieving its structure on one hand as well as the performance reports filed by the entities to the Ministry.

Commenting on this project, HE Younis Haji Al Khouri, Undersecretary of MoF said: “The Ministry of Finance coordinated with all ministries and concerned entities to prepare the federal final account; and was involved in the review of all methods used for the purpose of ensuring that the principles of transparency and the preservation of public funds were implemented, as well asthe efficient investment ensuring the effectiveness in the application of practices and financial legislation in the state.”

HE added: “The cooperation of all ministries and federal government entities has shown clear evidence regarding their commitment in the implementation of all the strategic directives of the UAE.

MoFhad earlier organised workshops for all federal agencies regarding the instructions of the consolidated federal final account for the financial year ends 31 December 2012, in accordance with the financial circular no (5) for the year 2012.

It should be noted that the State Audit Institution is expectedto deliver the unifiedFederal Final Account soon, where it willbe submitted by the Ministry of Finance to the Council of Ministers at a later stage.

Posted by : Dubai PR Network Editorial Team
Viewed 9522 times
PR Category : Government, Legal & Humanity
Posted on : Wednesday, April 24, 2013  11:15:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : MoF and Mohammed bin Rashid Establishment for SME Developmen...
Next Story : Dubai to host the first regional conference in Middle East o...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Move Aside C-beauty, K-beauty and J-beauty - There's a New Trend in Town and It Hails Fro... [6582-Views]
Inglot Cosmetics Partners With Cartoon Network for Limited Edition “The Powerpuff Girls” B... [6551-Views]
Autumn/Winter 19: Step out in the latest styles with City Centre Deira and City Centre Mir... [5539-Views]
Think LUNETTE for an earth-friendly period [5411-Views]
ACE launches its new and inspirational Outdoor collection [4380-Views]
Chain Reaction [4343-Views]
Dress for Diwali With the Rack by Kachins [4264-Views]
Restoration by Parmigiani Fleurier -The Yusupov Egg [4160-Views]
‘A Gift of Gold' offers at Malabar Gold & Diamonds [4056-Views]
New Strategic Partnership with Hewlett Packard Enterprise to help accelerate Abu Dhabi Dig... [3983-Views]
Handbags and Gladrags [3977-Views]
Sandro Launches Evening Capsule Collection [3947-Views]
Eighth World Championship title in all categories for Tissot Ambassador Marc Marquez [3904-Views]
Unifonic empowers business to capitalize on instant messaging apps to engage with customer... [3855-Views]
Celebrate guilt-free shopping to your fullest! [3825-Views]
VAIO returns to Middle Eastern in partnership with Nexstgo [3806-Views]
MBRU and King Saud University in Saudi Arabia join forces to enhance academic collaboratio... [3788-Views]
Peugeot Boxer 4x4 Concept Revealed [3660-Views]
Saudi Arabia's Ministry of Energy highlights enhanced cybersecurity credentials at GITEX T... [3623-Views]
His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum Challenges the City to Be ‘I... [3599-Views]
Hazzaa AlMansoori Undergoes Medical Experiments at Stars City as part of His Scientific Mi... [3575-Views]
During a press conference to announce the completion of preparations of Summit that will b... [3562-Views]
Victoria Beckham Eyewear Debuts New Collection for Fall 2019 [3544-Views]
Dubai Land Department welcomes Saudi Minister of Housing [3544-Views]
Team Abu Dhabi Stars Chase Double World Title Boost in China [3501-Views]
RSS Facebook Twitter LinkedDin
Top Sections
Top Stories