![]() The Board may set different standards for different categories of entities to which these standards apply including to develop content, structure and format of county frameworks and accounting and financial guidelines which are in line with the setting of county standards.The capacity of the relevant entity to comply with the standards.Best international accounting practices.In setting the above standards, the Board shall take into account any relevant factors including:.Perform any other functions related to advancing financial and accounting systems management and reporting in the Public Sector.In consultation with the Cabinet Secretary on the effective dates of implementation of the standards, gazette the dates for application of the standards and guidelines.Publish and publicise the accounting and financial standards and any directives and guidelines prescribed by the Board.Prescribe formats for financial statements and reporting by all state organs and public entities.Prescribe internal audit procedures which comply with the PFM Act.Prescribe the minimum standards of maintenance of proper books of account for all levels of Government.Set generally accepted accounting and financial standards. ![]() ![]() The Accounting Standards Board shall provide frameworks and set generally accepted standards for the development and management of accounting and financial systems by all State organs and public entities, and shall in particular perform the following functions:. ![]()
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