Component 5: Accounting and reporting
Objective: To strengthen financial management and reporting by Line Ministriess and local governments, and increase transparency and accountability in the use of public resources.
The Objective of this component will be mainly to improve on the quality of accounting and financial reporting systems for the Ministry of Finance and key services providing ministries. The main beneficiary of this component will be the Accountant General’s Office. The activities under this component will include: (1) the development of comprehensive Treasury Accounting Instructions, and (2) the development of a Chart of Accounts (CoA) which is compliant with the International Monetary Fund Government Financial Statistics Guidelines (IMF GFS).
This component will also include supporting the Office of the Accountant General to modernise the CoA to ensure it supports International Public Sector Accounting Standards IPSAS double-entry cash accounting and GFS 2001 Functional Classification. It will also ensure that the CoA provides the necessary information on all Government Sectors and projects in support of the operationalisation of the NDP.