Ministerial council for services discusses financial accounting policies for federal non-profit departments

The Ministerial Council for Services today discussed a list of financial and accounting policies adopted by federal non-profit departments. The meeting was chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Ministerial Council for Services, at the Presidential Palace, Abu Dhabi. The list of polices was submitted by the Ministry of Finance (MoF) as part of the federal government's efforts to develop the financial system and revise financial legislations in order to standardise and advance government financial performance, increase the efficiency of financial legislations which regulate accountability, transparency and preserve public funds. The implementation of the list, if approved, will create a unified list of financial and accounting polices to be followed by independent non-profit federal departments. The said list will be developed as needed. At today's meeting, the council also discussed the mechanism for implementing a developed national bill for a national education curriculum which will be applied to both public and private schools, from nursery schools to grade twelve. The bill aims to boost the loyalty of generations to their national identity. The council also reviewed a report by the Ministry of Education on procedures to support healthy nutrition for students at public schools, in cooperation with the Ministry of Health. It also discussed recommendations by the Federal National Council (FNC) for the policy of the Ministry of Environment and Water on protecting soil and vegetation cover in the UAE, and for the policy of the Ministry of Public Works on building of low-cost housing, construction and maintenance of federal roads. The council also reviewed reports by the State Audit Institution (SAI UAE) on the closing accounts of Emirates Real Estate Company (EREC); the Emirates General Petroleum Corporation (Emarat) and the Emirates General Transport and the Emirates General Transport and Services Corporation (Emirates Transport) for the fiscal year which ended on 31st December 2012.