Ministry of Finance convenes Financial Data Forum 2026

The Ministry of Finance (MoF) convened the Financial Data Forum 2026 in Abu Dhabi today as part of its ongoing efforts to advance government financial management, enhance the efficiency of financial statement preparation, and improve the accuracy and reliability of financial data.

The event was attended by Mariam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector at the Ministry of Finance, alongside representatives of federal entities and accounting and finance graduates from United Arab Emirates University (UAEU), the Higher Colleges of Technology (HCT) and Zayed University (ZU).

Their participation reflected closer integration between higher education institutions and the government financial sector, while supporting knowledge transfer and the exchange of expertise in financial statement preparation and the application of international accounting standards.

The forum aimed to support the sustained application of accounting policies and standards across the federal government, review the latest updates and requirements for implementing new standards, and examine their role in improving the accuracy, quality and reliability of information presented in financial statements.

It also covered the financial procedures and systems supporting the preparation of federal entities’ financial statements for the fiscal year ending 31 December 2026, together with the main developments and updates set out in the financial circular on the preparation of the final account (financial statements).

The forum also sought to foster cooperation and knowledge exchange between federal entities and academic institutions by engaging accounting and finance graduates from UAE universities, helping align academic outcomes more closely with the practical requirements of the government financial sector.

Mariam Mohammed Al Amiri described the Financial Data Forum 2026 as an important platform for aligning efforts between the Ministry of Finance and federal entities and developing a shared approach to applying accounting policies and standards and meeting the requirements for preparing financial statements for the fiscal year ending 31 December 2026.

She said the forum also helps ensure compliance with approved controls and the requirements for completing the final account file, including the financial templates and reports that must be submitted.

“Accurate, high-quality financial data is fundamental to efficient government financial management,” Al Amiri said. “It underpins reliable financial reporting and supports sound decision-making.”

She said the Ministry’s adoption of artificial intelligence and advanced digital solutions has helped modernise financial statement preparation by automating a number of procedures and enabling more efficient data validation and processing. This has improved the accuracy, quality and reliability of financial data while accelerating the completion of financial reports.

“These efforts align with the objectives of the Zero Bureaucracy Programme by simplifying procedures, reducing unnecessary steps and requirements, and improving the experience of federal entities,” Al Amiri said. “In turn, this supports more efficient final account preparation and enables financial decisions to be made on a more accurate and effective basis.”

The forum addressed a number of key areas aimed at enhancing the readiness of federal entities, foremost among them the accounting policies and standards adopted across the federal government and the latest updates to them. Discussions highlighted their importance in harmonising accounting practices and improving the accuracy, quality and reliability of information presented in financial statements.

A dedicated knowledge-sharing session on the International Public Sector Accounting Standards (IPSAS) examined the continued implementation of IPSAS 41–43, introduced in 2025, including the main challenges encountered and lessons learned. It also covered the requirements for implementing the new standards, IPSAS 45–49, during 2026.

Participants discussed the practical challenges associated with applying the standards and the related working papers, as well as ways to address them to improve the quality of financial data and the accuracy of final account preparation.

The UAE Accountability Authority (UAEAA) also participated in the forum, highlighting the role of audit and the key challenges associated with implementing the new accounting standards, while contributing to the exchange of expertise among the entities concerned.

The Ministry continues to monitor updates to the International Public Sector Accounting Standards and to review and update the related accounting policies, manuals and procedures. It also works to familiarise federal entities with new requirements and provide the guidance and technical support needed to ensure their readiness and promote consistent implementation across the federal government.

The forum highlighted the Ministry of Finance’s role in building institutional capacity across federal entities through specialised courses, training programmes and workshops designed to enhance the capabilities of financial and accounting professionals.

These programmes deepen their understanding of the requirements for preparing financial statements and final accounts and support the proper application of approved accounting standards and policies. The Ministry is committed to designing them around the evolving needs of federal entities and professional developments, while creating opportunities for specialists to exchange practical knowledge and expertise.

As part of efforts to strengthen collaboration between the government financial sector and academic institutions, participating graduates from United Arab Emirates University, the Higher Colleges of Technology and Zayed University had the opportunity to learn about best practices in financial statement preparation, understand accounting and financial requirements in the government sector, and gain insight into the professional challenges associated with implementing international standards.

This supports closer alignment between higher education outcomes and the needs of the government financial sector, while expanding opportunities for knowledge transfer and the exchange of expertise between specialists and young national talent.

On financial procedures, the forum reviewed the process for preparing financial statements, the requirements for completing federal entities’ final account files, the financial reports that must be submitted, and the general controls to be observed throughout the preparation process.

Participants were also briefed on the components of Financial Circular No. 10 of 2026 and its key updates, alongside a discussion of financial statement templates and the procedures for complying with their preparation and submission requirements.

In parallel with its training and capacity-building efforts, the Ministry continues to develop its financial systems and improve their efficiency, while adopting artificial intelligence and advanced digital solutions to automate processes, accelerate transaction completion, and improve data quality and accuracy.

These efforts contribute to the objectives of the Zero Bureaucracy Programme by simplifying procedures, reducing unnecessary requirements and steps, and improving the experience of federal entities and customers.

The Financial Data Forum 2026 reflects the Ministry of Finance’s continued commitment to advancing government financial management, promoting compliance with the International Public Sector Accounting Standards, and enhancing coordination among federal entities.

Together, these efforts support the preparation of accurate and reliable financial statements and contribute to higher-quality financial reporting and more efficient preparation of the final account for the 2026 fiscal year.