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Accounting Standards

The Directorate of Accounting Standards (DAS) undertakes the following functions:

  • Responding to technical queries from public sector entities on the interpretation of prescribed standards
  • Coordinating and documenting responses to Consultation Papers (CPs), Discussion Papers (DPs), Exposure Drafts (EDs) documents issued by the standard setters
  • Undertaking an annual review of the prescribed reporting templates
  • Issuing guidelines to aid the public sector in the application of the standards
  • Annually updating guidelines following the review of the templates
  • Facilitating consistent implementation of accounting standards
  • Repositioning the public sector component of Financial Reporting (FiRe) awards in collaboration with other promoters through timely feedback and technical support to Public Sector entities on areas of non-compliance
  • Capacity building initiatives in the Public Sector
  • Undertaking research in areas of accounting standards
  • Facilitating the transition to accrual IPSAS by all public sector entities

Stakeholder Collaboration

The Directorate is currently in active in collaboration with other stakeholders in the execution of its mandate. Some of these stakeholders are:

  1. National Treasury - Accountant Generals Department
  2. Ufadhili Trust on Sustainability Reporting
  3. NG - CDF Board on Enhancing Prudent Financial Reporting in the Constituencies
  4. Public Financial Management Reforms Secretariat: Upscaling PFM Reforms relating Financial Accountability in the Public Sector