Press briefing of Cabinet Decision taken on 2018-01-09

Preparation of a General Accounting System for the Local Authorities in accordance with the Public Accounting Standards

- A project has been implemented under the World bank funds, with the objective of introducing a new accounting network in accordance with the internationally accepted accounting standards having rectified the existing deficiencies found in the accounting system which is implemented at present in the Local Authorities. The new accounting system prepared accordingly is due to be introduced in all the Local Authorities in the country from the year 2018. In this respect, awareness programmes will also be carried out for the officers of the Local Authorities. Accordingly, the proposal made by Hon. Faiszer Musthapha, the Minister of Provincial Councils and Local Government, to implement the new accounting system in all the Local Authorities effective from the financial year 2018, was approved by the Cabinet.