Abu Dhabi, UAE, 27 October 2015 - Faced with a range of
complex issues that impact governments' ability to effectively and efficiently
deliver high-quality public services, the Abu Dhabi Accountability Authority ( ADAA ), and the International Federation of Accountants
(IFAC) will host an Accountability. Now. summit to highlight the link between
better government reporting, improved public services, and economic growth.
Local and international experts will explore regional economic challenges and
the role public financial management (PFM) reform plays in supporting economic
development.
"The issues that we will discuss affect all countries.
For our region in particular, as the economy continues to grow, it is important
to put measures in place today that will support our long-term sustainable
development efforts," said HE Riyad Al Mubarak, chairman of the ADAA . "Enhanced public financial reporting supports
better decision making, and this helps attract increased investment and
contributes to stronger, more sustainable public services."
Speaking ahead of the conference, Fayezul Choudhury, CEO of
IFAC, said "Many countries require private sector organizations to prepare
financial statements, and have them audited, in accordance with rigorous
international standards. Remarkably, similar requirements do not apply to the
public sector and we need to change that." Read More
Mr Fayezul Choudhury, CEO of IFAC, believed that good
government treatments facilitate more knowledgeable judgments and it will be an
essential step for making a trusting level between residents and financial
institutions which providing their services to public. Reforming of financial Management
will prove significant decision for citizens and financial firms
of UAE.
