Dubai’s DoF, Deloitte sign strategic IPSAS partnership

DUBAI, 12th March, 2018 (WAM) — The Department of Finance, DOF, of the Government of Dubai on Monday announced a strategic partnership agreement with Deloitte to enable the government to implement the International Public Sector Accounting Standards, IPSAS.

The agreement comes as part of the department’s continuous improvement of financial reporting across the Government of Dubai, enabling effective decision-making and delivering of DOF’s Strategic Plan 2017-2021 on the adoption of international accounting standards.

Abdulrahman Saleh Al-Saleh, Director-General of DOF, and Maher Al-Khalil, Member of the Board of Directors at Deloitte Middle East and Managing Partner of Consulting Operations services in the region, signed the agreement.

Al-Saleh highlighted the government’s emphasis on promoting further transparency and reliability and contributing to sustainable government financial effectiveness. This is in alignment with Law No. 01 of 2016 on Dubai Government Financial Regulation and in line with Dubai Strategic Plan 2021.

It reinforces its contribution as a leading pillar in government operations based on competency, accountability and creativity, recognising and commending the high degree of collaboration with governmental entities during the assessment and planning phases of the programme.

Jamal Hamed Al Mari, Executive Director of the Central Accounts Sector, DOF, stated that the IPSAS implementation phase is based on clear government directives to further enhance the quality and completeness of financial reporting. This leads to financial reporting at the highest quality levels, in accordance with relevant international standards, and as stipulated by Law No. 01 of 2016.

Mohammed Jallad, a partner leading IPSAS implementation services at Deloitte in the Middle East, explained that accrual accounting IPSAS standards are the most internationally recognised and widespread in the government and public sector. He also stressed that the continuous efforts of governments worldwide to implement IPSAS enhances global co-operation and allows for constructive comparison of financial performance. In the context of Dubai, this contributes to further improving government financial management for the emirate.

During the signing ceremony, participants expressed their confidence in completing the implementation according to schedule, positioning the Government of Dubai as a leader, preparing comprehensive financial reports in compliance with IPSAS within an ambitious time frame.

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