- This outcome recognises that accounting and reporting standards are adequate, but that there is a continued drive towards international and regional frameworks that require higher standards of accounting. Professional training of accounting cadres therefore supports Government’s commitment in the Accounts Act for all heads of accounts and finance units to be qualified accountants. Progress has been made towards this target already and is expected to be completed during the timeline of the strategy. This also facilitates compliance with the current required reporting and accounting standards. Automation of reporting is required to ensure that data generated by reporting systems is presented in a manner that supports effective decision-making.
- Accrual accounting and enhanced accounting systems will help address the need to report more comprehensively on government operations, specifically externally financed projects, and public enterprises among others. While accrual accounting is considered a more advanced PFM reform, a long-term goal, the strategy focuses on initial planning of a road map for transitioning towards accrual accounting. An updated capacity needs assessment will ensure that there is capacity to absorb and sustain the planned reforms. As mentioned previously, large-scale professional training programmes will be developed in response to the capacity needs assessment and options for more sustainable delivery methods will be explored to ensure GoU takes up of this recurrent activity following initial support under the reforms.