Dubai: The Ministry of Finance (MoF) has entered into two Memoranda of Understanding (MoUs) with the American University in Dubai (AUD) and the Association of Chartered Certified Accountants (ACCA). These agreements are part of a broader initiative aimed at boosting the financial and accounting skills of federal government staff.
The project is aligned with the Ministry’s strategic framework, which focuses on building partnerships with prominent international and local organizations to promote excellence in public finance and sustainable development, while incorporating global best practices in the financial sector.
The signing ceremony for the MoUs took place at the Ministry of Finance’s headquarters in Dubai. The event was attended by key figures, including Younis Haji Al Khoori, Undersecretary of the Ministry of Finance; Mariam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector; Dr. Kyle Long, President of the American University in Dubai; Malik Sarieddine, Regional Director of Public Affairs for the Middle East at ACCA; and several members of the Financial Policies and Government Accounting Standards Department.
Younis Haji Al Khoori stressed the importance of the two agreements, saying 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.
Al Khoori emphasized the Ministry’s commitment to collaborating with top universities and institutions to offer education that meets the evolving needs of the economy while strengthening public finances.
These partnerships will help prepare the financial management team for future challenges, fostering innovation and integrating advanced technologies like AI and digital transformation. The goal is to build a government finance team that can make informed, data-driven decisions aligned with global standards.
For his part, Dr. Kyle Long said that the strategic partnership with the Ministry of Finance aims to promote the level of financial expertise among specialists across various sectors within the federal government.
Dr. Kyle Long said that, “Today, we’re witnessing a major transformation in financial management, driven by artificial intelligence and advanced financial technology. Through this collaboration, we look forward to enhancing financial management and decision-making processes, directly benefiting the government and all stakeholders. We’re confident that this partnership will bring significant positive impacts, not only for finance professionals but also for the government as a whole.”
Malik Sarieddine explained that the CERT IPSAS and Cert SF certifications are designed to equip participants with the skills necessary to implement accrual-based IPSAS for preparing financial statements. These qualifications aim to help accountants and financial professionals guide federal agencies in adopting sustainable practices, ensuring long-term success, and contributing to a more sustainable future. He also highlighted that the Cert SF will enable CFOs to lead financial sustainability initiatives within federal agencies with confidence.
Under the first Memorandum of Understanding (MoU) signed by Younis Haji Al Khoori and Dr. Kyle Long, the American University in Dubai (AUD) will offer an Executive Diploma Program in Government Financial Policy Sustainability in 2024 and 2025.
This program is designed to align with the UAE government’s vision of enhancing national talent and strengthening financial and accounting expertise. It will focus on key areas such as financial sustainability, government financial management trends, and the integration of AI and digital transformation in financial analysis.
The second MoU, signed by Younis Haji Al Khoori and Malik Sarieddine, involves a collaboration with the UK-based Association of Chartered Certified Accountants (ACCA).
This partnership will introduce the Certificate in International Public Sector Accounting Standards (CERT IPSAS) and the Certificate in Sustainability for Finance (Cert SF) in 2024 and 2025, aiming to help finance professionals adapt to accrual-based accounting standards and tackle future challenges in financial reporting.
These initiatives aim to enhance the skills of federal government accountants and financial managers, helping them meet international standards and leverage technologies like AI and digital transformation for financial data preparation and analysis.