Third edition of Ajman unified financial system to take effect on January 1st 2018

AJMAN, The Financial Department in Ajman has organised a workshop on the 3rd edition of Ajman Government’s unified financial system against which the directory of policies, the financial procedures and the accounting directory will be amended effective January 1st, 2018.

The amended financial system is aimed at coping with the most updated developments in the government’s financial systems and meeting the departments’ requirements for changing some policies and financial procedures to ensure the highest possible level of elasticity and business flexibility and agility.

The importance of the edition lies in its conformity with ongoing changes and developments in order to upgrade the financial government performance to the best applied practices, using optimum tactics and potential to meet Ajman Vision 2021, said Marawan Ahmed Al Ali, Director General of the Financial Department in Ajman.

The workshop is tailored to increase communication and support culture of transparency and consultation between the Department and other state entities in the emirate.

Work on Ajman government’s unified system has started on January 1st 2012 to show how the government’s general budget and monitoring revenues, expenditures, assets, different accounts determining policies and financial procedures are prepared, issued , organised and managed for the sake of unifying and organising financial and accounting transactions at all levels. This is besides establishing an efficient corporate governance system and ensuring proper institutional performance.

The 2nd edition of the unified financial system took effect on January 1st 2016, while the third will go into force effective January 1st 2018.

Source: Emirates News Agency