Organization : Ministry of Finance
Type of Facility : Common Coding System
Country: United Arab Emirates
Website : https://mof.gov.ae/
Common Coding System :
The Emirates is the first country in the world that has a complete comprehensive description and coding system, as the regulations of the countries of the world – even the developed – they only use partial classifications.
Related : Ministry of Finance Issuing Tax Domicile Certificate United Arab Emirates : www.statusin.org/10294.html
The purpose of description and common coding system is to provide a lot of time and effort in data mining and to control the stores in the ministries and federal sections, and it has qualified high-tech specifications for giving services to all sectors working in the country, and the reliance on manual coding of an international accreditation by the United Nations (UNSPSC) helpsits ability to increase the compatibility with all systems.
The Ministry has developed the system to serve the country’s tendency to decentralization, as the standardization of procedures and to clarify the mechanisms of action of the things that would support the independence of the ministries in the framework of integration and coordination of performance.
The system has been prepared in order to accommodate a large package of future developments, where the ministry is planning to link the system with the banks operating in the country in respect of guarantees on bank for practices and tenders process, as well as work in progress to develop a mechanism through which it can notice the registered firms electronically in accordance with its terms of reference Ministry proposals, including the practices or tenders to provide the offers.
Sector: Financial Management Sector
Responsible Department: Policies & Accounting Standards
Beneficiary of the Service: Federal Ministries and Bodies
Duration of Service: 3 Days
Responsible Officer: Fathiya Mohamed Ali
Direct Number: 02-6987341
Sector Coordinator: Mounira Ali Abdullah
Direct Number: 02-6987327
Financial Management & Administrative System :
Introduction:
** Meet the requirements of the federal government in the field of accounting and financial management, to design and develop a financial management information system supplier to integrate with the E-Dirham and cash management.
** The system aims to improve financial and management reporting, and to provide comprehensive and consolidated accounts of the Federal Government, and issuing reports in accordance with the government financial statistics, and lay the foundations of account management decentralization in the federal ministries.
** System would improve the monitoring of program budgets, and better management of income, expenditure, cash management, cash flow, expenses and salary accounts, and follow-up audit costs for projects.
** Provide the ability to run on both accounts: the cash and accrual base.
Need to apply the financial system and administrative :
** There are many sources of information throughout the federal government, which result duplication of data, which leads to a mismatch in nature and lack of integration and the inability to use it.
** Accumulation of office “paperwork” resulting from the vast amount of work that is causing the slow down the operations.
** Lack of necessary data and to provide the necessary requirements of the Federal government in the administration and take appropriate decisions.
** The methods available to assess and monitor performance are limited and inadequate.
** The need for a system to provide information designed to provide senior management with information and accurate data and for evaluating the activities carried out in the ministries and to contribute to making appropriate decisions in a timely manner.
** Modify the procedures; government accounting and transfer of accountability “cash” to be held accountable, “entitlement”
** Removing the old financial system