PUBLIC SECTOR ACCOUNTING STANDARDS BOARD
INVITATION FOR COMMENTS ON QUARTERLY FINANCIAL REPORTS
The Public Sector Accounting Standards Board (PSASB) is mandated by section 194 of the PFM Act, 2012 to prescribe frameworks and set generally accepted standards for the development and management of accounting and financial systems by all State organs and public entities. PSASB in compliance with this section, prescribes internal audit procedures and mainstreams best practices for good governance, internal controls and risk management
Pursuant to the above mandate, PSASB is in the process of developing Quarterly Financial Reporting Templates for the following categories of public sector entities:
1. IPSAS Accrual Basis
• Level 4 and 5 Hospitals
• Cities & Municipal Boards
• National Government Car & Mortgage Schemes
2. IPSAS Cash Basis
• County Revenue Fund
• County Receivers of Revenue
3. IFRS Basis
• Water Service Providers (Water Companies)
In line with Article 201 (a) of the Constitution of Kenya 2010, PSASB invites all stakeholders to provide comments on the draft Quarterly Financial Reporting Templates. The draft templates can be accessed and downloaded from PSASB website: www.psasb.go.ke
Comments should be emailed to acctstandards@psasb.go.ke on/before 12th September 2022. Kindly let your comments take the format indicated below:
| Template | Issues | Page | Recomendations |
|---|---|---|---|
| Number | Comment | Number | Comment |