UAE reviews procedures for 2025 federal financial statements

Dubai: The UAE Ministry of Finance (MoF) has begun reviewing procedures for preparing the federal government’s 2025 financial statements and final accounts, as part of its efforts to enhance transparency and align with international accounting standards.

The Ministry outlined the key steps federal entities must follow in preparing their financial statements for the fiscal year ending 31 December 2025, in line with the latest International Public Sector Accounting Standards (IPSAS). Officials also highlighted updates to the 2025 financial circular, which sets out new instructions on presentation, disclosure, and submission timelines to ensure accuracy and consistency across all federal accounts.

Mariam Mohammed Al Amiri, Assistant Undersecretary for the Government Financial Management Sector, said the process reflects the Ministry’s ongoing commitment to good governance and financial accuracy.

Enhancing financial reporting

“Enhancing financial reporting and applying international standards strengthens transparency and consolidates the UAE’s position as a global model in public financial management,” she said.

The Ministry also emphasised its work with the UAE Accountability Authority to align auditing practices and improve data quality. Updated standards — including IPSAS 41, 42, 43, and 44 — will be applied this year, covering areas such as financial instruments, social benefits, and leases.

The review process is part of the Ministry’s wider goal to develop integrated, digital public finance systems and build the capabilities of accounting and finance professionals across federal entities.

While the procedures were discussed during the Financial Data Forum 2025 in Abu Dhabi, attended by finance officials and students from UAE universities, the Ministry stressed that the focus remains on ensuring federal entities are fully prepared to deliver accurate, timely, and transparent financial statements for 2025.