Cap. 601 · Public Finance Management Act (Cap. 601)
Cap. 601 Art. 38Adoption of accruals-based accounting standards.
Title 2 – Accruals-based accounting
(1) When established by the Minister by means of a regulation, all ministries and departments shall adopt the accruals-
based accounting standards in their financial accounting and financial reporting, implementing the International Public-Sector Accounting Standards (IPSASs) as adopted by the Government, and publish financial statements.
(2) The Accountant General shall be responsible for publishing these accounting standards and ensure compliance across ministries and departments, as may be required from time to time.
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