The Public Sector Accounting Standards Board (PSASB) is established under sections 192 to 195 of the Public Finance Management (PFM) Act 2012. The Board is mandated to provide frameworks and set generally accepted accounting standards for the development and management of accounting and financial systems and internal audit procedures by state organs and public entities as spelled out under Section 194 of the PFM Act. The Board is a Semi-Autonomous Government Agency under the National Treasury.

In the course of fulfilling its mandate, PSASB partners with other entities locally and internationally in the furtherance of the accounting profession. In May 2022, the International Public Sector Accounting Standards Board (IPSASB) issued a Consultation Paper on Natural Resources seeking feedback from various stakeholders across the globe. The objective of the paper is to develop guidance on issues relating to the recognition, measurement, presentation, and disclosure of natural resources in the public sector.

It is on this backdrop that PSASB has organized a virtual forum to engage stakeholders in Kenya on issues proposed in the Consultative paper. The forum will be held on 14th October 2022 from 10.00 am to 12.00 pm

To facilitate a participatory response by PSASB to the issues raised in the Consultation Paper, we are requesting that you send one representative to join us in the forum.

We look forward to your active participation