Latest news with #InternationalPublicSectorAccountingStandards
GMA Network
09-07-2025
- Business
- GMA Network
OVP scores 'unmodified opinion' from COA for 2024
The Office of the Vice President (OVP) has received an "unmodified opinion" from the Commission on Audit (COA) for the third consecutive year. In its 2024 annual audit report, the COA stated that the financial statements of Vice President Sara Duterte's office present "fairly, in all material respects, the financial position of OVP as of December 31, 2024." The state auditors also said that the OVP's "financial performance, cash flows, changes in net assets/equity, and comparison of budget and actual amounts for the year then ended, and notes to the financial statements, including a summary of significant accounting policies are in accordance with International Public Sector Accounting Standards." The OVP, for its part, said that the COA's unmodified opinion for 2024 highlights its "continuing commitment to transparency, accountability, and the judicious use of public funds, as well as compliance with the principles of good governance and sound financial administration upheld by state auditors." The COA issues an unmodified opinion or unqualified opinion when the state auditor "concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework." The COA, however, only issues an unqualified or qualified opinion on the Financial Audit part of the Annual Audit Report on government agencies, including the OVP. Other parts of the Annual Audit Report include Performance Audit and Compliance Audit. The COA has clarified that an audit opinion 'should not be viewed as a rating, score or grade, with ranking of lowest to highest,' stressing that it only pertains to the financial audit done by state auditors on the agencies. To recall, the House of Representatives impeached Duterte on February 5, with over 200 lawmakers endorsing the complaint. On June 10, the Senate impeachment court convened, with the trial proper expected to begin in the 20th Congress. Among the seven articles of impeachment against Duterte was the alleged malversation of P612.5 million in confidential funds with questionable liquidation documents. Duterte denied the allegations. —LDF, GMA Integrated News
Yahoo
19-02-2025
- Business
- Yahoo
UAE MoF launches IPSAS certification
The United Arab Emirates' (UAE) Ministry of Finance (MoF), in collaboration with the Association of Chartered Certified Accountants (ACCA), has initiated an International Public Sector Accounting Standards (IPSAS) certification programme. This programme commenced with a training session in Dubai from 17 to 21 February 2025, according to a press release posted on Zawya. It is targeting the enhancement of skills for financial professionals within federal ministries and entities. Participants in this programme include financial managers, department heads specialising in finance and accounting, as well as accountants. The IPSAS certification is a part of the Financial and Accounting Capacity-Building Project. The project is aimed at bolstering the expertise of federal government financial professionals through governmental collaboration and integration. The certification is tailored to meet the demands of financial and accounting professionals at the federal level. It seeks to augment their analytical and technical skills, enabling them to tackle accounting challenges while adhering to international financial reporting standards. By 2025, the programme aspires to certify and graduate one hundred public sector professionals. The partnership with ACCA is intended to equip government employees with the necessary tools to apply international accounting standards and fostering transparency and financial efficiency. The benefits of this initiative extend to the improvement of financial reporting quality and the assurance of greater accuracy in data used for decision-making processes. MoF Mariam Mohamed Al Amiri Government Financial Management Sector assistance undersecretary 'The IPSAS certification programme is a significant step in the right direction. It will bolster the Ministry of Finance's recently launched financial and accounting capacity-building project. 'The latter aims to equip accountants and financial professionals in federal entities with the skills needed to adopt accrual-based accounting standards, ensuring the UAE's leadership in financial innovation and governance.' The workshop represents a segment of the broader partnership agreement signed between the MoF and ACCA in November 2024. "UAE MoF launches IPSAS certification" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mid East Info
18-02-2025
- Business
- Mid East Info
Ministry of Finance Launches IPSAS Certification to Strengthen Financial Expertise in the Federal Government
Launched in partnership with the Association of Chartered Certified Accountants (ACCA). Aims to train and certify 100 specialised federal government financial professionals by 2025. A key milestone in the financial and accounting capacity-building project. The Ministry of Finance has launched the International Public Sector Accounting Standards (IPSAS) certification in collaboration with the Association of Chartered Certified Accountants (ACCA), in yet another move that is set to bolster strategic partnerships and reinforce its position as a global leader in public finance. The certification programme, which began with a training session in Dubai from February 17 to 21, 2025, aims to develop the expertise of financial professionals across federal ministries and entities. Participants included financial managers, department heads specialising in finance and accounting, and accountants. The launch of this certification is part of the Financial and Accounting Capacity-Building Project for financial professionals in the federal government, within the framework of governmental collaboration and integration. The IPSAS certification is designed to address the growing needs of financial and accounting professionals at the federal level by improving their analytical and technical capabilities to navigate complex accounting challenges while ensuring compliance with international financial reporting standards. The programme aims to certify and graduate 100 public sector professionals by 2025. Resource Optimisation: Her Excellency Mariam Mohamed Al Amiri, Assistant Undersecretary of the Government Financial Management Sector at the Ministry of Finance, said, 'The launch of the IPSAS certification, in partnership with ACCA, reaffirms the Ministry's commitment to enhancing financial efficiency and improving transparency in the preparation of government financial reports.' 'This initiative will not only support our ongoing efforts to transition to international accounting standards, and strengthen financial governance, but will also ensure the optimal use of government resources and contribute to financial sustainability. Additionally, qualifying financial personnel in the federal government according to the latest global standards will further enhance the readiness of government entities to adapt to rapid economic changes, boosting their competitiveness on both the local and international stages.' 'The IPSAS certification programme is a significant step in the right direction. It will bolster the Ministry of Finance's recently launched financial and accounting capacity-building project. The latter aims to equip accountants and financial professionals in federal entities with the skills needed to adopt accrual-based accounting standards, ensuring the UAE's leadership in financial innovation and governance,' Al Amiri added. Promoting Transparency: The partnership with ACCA will play a key role in empowering government employees to implement international accounting standards effectively, enhancing transparency and financial efficiency. This, in turn, improves the quality of financial reporting and ensures greater accuracy in the data used for decision-making. The workshop is part of the partnership agreement signed between the Ministry of Finance and ACCA back in November 2024, which outlines the launch of three specialised certifications in 2024 and 2025: the International Public Sector Accounting Standards Certificate (CERT IPSAS), Certificate in Public Financial Management (Cert PFM), and the Certificate in Sustainability for Finance (Cert SF)
Zawya
18-02-2025
- Business
- Zawya
Ministry of Finance launches IPSAS Certification to strengthen financial expertise in the Federal Government
Aims to train and certify 100 specialised federal government financial professionals by 2025. A key milestone in the financial and accounting capacity-building project. Dubai: The Ministry of Finance has launched the International Public Sector Accounting Standards (IPSAS) certification in collaboration with the Association of Chartered Certified Accountants (ACCA), in yet another move that is set to bolster strategic partnerships and reinforce its position as a global leader in public finance. The certification programme, which began with a training session in Dubai from February 17 to 21, 2025, aims to develop the expertise of financial professionals across federal ministries and entities. Participants included financial managers, department heads specialising in finance and accounting, and accountants. The launch of this certification is part of the Financial and Accounting Capacity-Building Project for financial professionals in the federal government, within the framework of governmental collaboration and integration. The IPSAS certification is designed to address the growing needs of financial and accounting professionals at the federal level by improving their analytical and technical capabilities to navigate complex accounting challenges while ensuring compliance with international financial reporting standards. The programme aims to certify and graduate 100 public sector professionals by 2025. Resource Optimisation Her Excellency Mariam Mohamed Al Amiri, Assistant Undersecretary of the Government Financial Management Sector at the Ministry of Finance, said, "The launch of the IPSAS certification, in partnership with ACCA, reaffirms the Ministry's commitment to enhancing financial efficiency and improving transparency in the preparation of government financial reports.' 'This initiative will not only support our ongoing efforts to transition to international accounting standards, and strengthen financial governance, but will also ensure the optimal use of government resources and contribute to financial sustainability. Additionally, qualifying financial personnel in the federal government according to the latest global standards will further enhance the readiness of government entities to adapt to rapid economic changes, boosting their competitiveness on both the local and international stages." 'The IPSAS certification programme is a significant step in the right direction. It will bolster the Ministry of Finance's recently launched financial and accounting capacity-building project. The latter aims to equip accountants and financial professionals in federal entities with the skills needed to adopt accrual-based accounting standards, ensuring the UAE's leadership in financial innovation and governance,' Al Amiri added. Promoting Transparency The partnership with ACCA will play a key role in empowering government employees to implement international accounting standards effectively, enhancing transparency and financial efficiency. This, in turn, improves the quality of financial reporting and ensures greater accuracy in the data used for decision-making. The workshop is part of the partnership agreement signed between the Ministry of Finance and ACCA back in November 2024, which outlines the launch of three specialised certifications in 2024 and 2025: the International Public Sector Accounting Standards Certificate (CERT IPSAS), Certificate in Public Financial Management (Cert PFM), and the Certificate in Sustainability for Finance (Cert SF)
Express Tribune
15-02-2025
- Business
- Express Tribune
From numbers to global impact
The evolution of research and professional aspirations in STEM fields continues to be shaped by inspiring stories of individuals like Carmen Kibonge. Hailing from Kinshasa, the capital of the Democratic Republic of Congo, Kibonge's journey is evidence to the power of education, perseverance and a desire to contribute globally. Her story reflects the broadening scope of opportunities in scientific and technical domains, driven by innovative organisations like the IAEA. Kibonge was inspired by her mother, a trailblazer in higher education, to pursue her passion for mathematics. Her exceptional skills earned her the nickname 'Ordi' — short for 'computer' in French — setting the stage for her academic and professional success. Kibonge's pursuit of higher education took her to Austria, where she studied business administration at the University of Vienna, balancing her studies with teaching mathematics. Despite cultural and linguistic challenges, her resilience propelled her forward. After earning a master's degree in France, she began her career as a financial auditor but soon sought a role with global impact, joining the UN system and later the IAEA. At the IAEA, Kibonge's contributions have been transformative. As a financial auditor, she implemented International Public Sector Accounting Standards, enhancing transparency and accountability. Returning in 2021 as head of the accounting unit, she modernised financial processes, automating reporting systems and reducing processing times by nearly 70%. Her work underscores the importance of innovation in driving efficiency and trust in global institutions. Beyond her technical achievements, Kibonge champions mentorship and inclusivity in STEM. She encourages young women to pursue their dreams, emphasising that STEM fields extend beyond traditional roles to include finance, management and technology. Her story highlights the diverse pathways available for making a global impact and the importance of fostering gender equality in STEM. Kibonge's journey is a testament to the power of education, resilience and inclusivity. It challenges us to embrace diversity, rethink traditional boundaries and recognise the potential of individuals to drive global progress through innovation and collaboration. Her story is not just one of professional success but a call to action for expanding opportunities and empowering underrepresented voices in STEM. Dr Intikhab Ulfat Karachi
