Posted on October 17, 2017

In the context of its ongoing efforts to raise public finance standards in the MENA region, the Qatar Institute for Public Finance (QIPF), in collaboration with the Ministry of Finance (MoF), and the Organization for Economic Cooperation and Development (OECD), is organizing a workshop on the “Best Practices in Accounting, Asset, Liabilities and Risk Management”; the fifth workshop of its kind since the Institute’s inauguration in December 2015.

The event, to be held at the Qatar Finance and Business Academy (QFBA), comes in the framework of the three organizations' commitment to developing sustainable and efficient public finance strategies through dedicated research concerning the MENA region by international industry experts.

Commenting on the occasion, Dr. Mohammed Abdullah Al Emadi, Acting CEO of QFBA, said: “This workshop comes as a complement to its predecessors and is part of our ongoing pursuit to raise the standards of public finance in Qatar and the MENA region to new horizons, by keeping abreast of the most advanced and up-to-date practices in the world. Over the course of three days, the workshop will discuss a number of key issues in the field of Financial Accounting in the public sector at the national and regional levels - under the title of Best Practices in Accounting, Asset, Liabilities, and Risk Management - through specialized academic research papers highlighting a number of central topics such as accounting concepts, the outcome of OECD surveys in the MENA region, the UK experience in the field of governmental financial accounting, asset and liabilities management, among others. Each research paper presented at this special event will be followed by an interactive panel discussion between speakers and participants.”

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On his part, Professor John Blundell, Head of the Budget and Public Expenditures Section at the OECD, said: “The participation of the OECD in this workshop comes as part of the organization’s efforts of keeping pace with the most recent international practices in various financial fields and utilizing them through constructive and objective dialogue and exchanging experiences to advance the field towards promising horizons. During the workshop, the main accounting functions of governments around the world will be reviewed and the accounting systems will be analyzed in terms of their differences, application mechanisms and differentiation, through a number of specialized papers.”

The OECD, as an international organization aimed at promoting policies that improve the economic and social well-being of people around the world, enables governments to understand and address economic, social and environmental issues, opportunities and challenges. Thus, it covers various aspects of financial discipline and sustainability, as well as the allocation of resources and monetary efficiency in government operations. In turn, QFBA continues to work with the Ministry of Finance as a central institution responsible for the economy and public finances in Qatar through its market research, to analyze gaps in public sector finance, find solutions through specialized research, and implement their outcomes via training programs.

QFBA was established by the Qatar Financial Center (QFC) with the aim of creating an educational and developmental institution in Qatar that provides practical educational services in the financial sector. The Academy targets individuals who are qualified to start financial work, all the way to senior executives, and trains them in basic financial disciplines in the areas of banking, asset management, capital markets and insurance.