Kenya’s Shift to Accrual Basis Accounting: A Major Milestone in Public Financial Management
On October 3, 2024, Kenya’s National Treasury officially announced the commencement of the transition from cash-basis accounting to the International Public Sector Accounting Standards (IPSAS) accrual basis. This marks a significant move in reforming public financial management, aimed at enhancing transparency, accountability, and providing a clearer financial picture of the government’s position. Why the Transition? […]