Federal Decree Law No. 26/2019 on Public Finance is distinguished by several key elements that contribute to maintaining the development and sustainability of the economy. For this reason, the implementation of this decree will contribute to standardizing all procedures and processes when achieving the following objectives:

- Establishing an integrated regulatory framework of the public finance and fiscal policies of the federal entities by defining the following:

  1. Principles of governance, control and risk management related to the management of the federal entities’ financial revenues
  2. Principles of management and financial revenues policies of the federal entities 
  3. Powers, competences, authorities and responsibilities for the management of the federal entities’ financial revenues 
  4. General rules regulating the federal entities’ financial revenues collection, management and disbursements alongside reports related to the management of the federal entities financial revenues

- Determining the rules of preparing the general budget, the final account of the federal entities and the consolidated final account, and laying down the rules that govern the financial revenues of the federal entities

The decree was issued on 4 September 2019 and is applicable for ministries, federal entities and autonomous independent federal entities. In the following pages, we highlight the below:

  • Key highlights of the Federal Decree Law No. 26/2019
  • Enhancing the effectiveness of procedures and control systems to reduce risks
  • Challenges that federal entities may face when starting to implement the provisions and requirements of Federal Decree Law No. 26/2019 on public finance
  • KPMG’s methodology to support federal entities in complying with Federal Decree Law No. 26/2019 on public finance and to keep pace with leading international standards and practices

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