UAE Ministry of Finance (MoF) has signed two Memoranda of Understanding (MoUs) with the American University in Dubai (AUD) and the Association of Chartered Certified Accountants (ACCA) to enhance financial and accounting capabilities among federal government financial staff.
The project is part of the MoF’s framework for government partnership and integration, which aims to establish strategic alliances with leading international and local organizations and institutions.
According to the statement, the agreements fall under the umbrella of a project dedicated to strengthening the financial and analytical skills of accountants and financial managers across the federal government.
The Ministry, through such projects, seeks to foster proactive partnerships and achieve excellence in public finance and sustainable development, while also keeping abreast of global best practices in the financial sector.
Younis Haji Al Khoori, Undersecretary of the MoF, said that, “With these two MoUs, we’re stepping up our efforts to enhance financial skills across the Federal Government by introducing specialized training that’s designed to enhance our team’s capabilities, keeping them in sync with the latest global financial trends.”
“We are committed to collaborating with top universities and institutions to offer education that not only meets the demands of our modern economy but also supports the enduring strength of our public finances. These partnerships will undoubtedly play a vital role in preparing our financial management team for the future, encouraging innovation, and integrating cutting-edge technologies like artificial intelligence and digital transformation. We want to build a government finance team that makes smart, data-driven decisions based on the latest global standards,” Al Khoori added.
Dr. Kyle Long, President of the American University in Dubai, noted that the strategic partnership with the Ministry of Finance aims to promote financial expertise among specialists across various sectors within the federal government.
For his part, Malik Sarieddine, Regional Director of Public Affairs for the Middle East at ACCA, stated that, “The CERT IPSAS and Cert SF certifications are designed to equip participants with the essential skills and knowledge needed to meet the challenges of implementing accrual-based IPSAS for preparing financial statements.”
MoU betweeen MoF and American University in Dubai
Under the first MoU, signed by Younis Haji Al Khoori and Dr. Kyle Long, the American University in Dubai will launch the Executive Diploma Program in Government Financial Policy Sustainability in 2024 and 2025. This program is set to significantly support the UAE government’s vision of developing national talent and strengthening financial and accounting expertise.
Recognizing the importance of integration in developing national leaders at the state level, the program aims to equip participants with essential concepts and skills. It also seeks to promote principles of financial sustainability, explore future trends in government financial management, and examine the impact of artificial intelligence and digital transformation on financial statement analysis.
MoF-ACCA MoU
Meanwhile, the second partnership was inked by Younis Haji Al Khoori and Malik Sarieddine, where the MoF and the UK-based Association of Chartered Certified Accountants (ACCA) will collaborate on building financial and accounting capacities by launching the Certificate in International Public Sector Accounting Standards (CERT IPSAS) and the Certificate in Sustainability for Finance (Cert SF) in 2024 and 2025.
The MoU aims to help accountants and finance professionals adapt to challenges associated with accrual-based international accounting standards and financial statement preparation. Participants will be equipped with essential skills to handle future challenges effectively.
