Objectives

1. Study of in-place Government/ Public Sector Accounting & Accountability Systems in the SAFA member countries of SAARC.
2. Study of Existing Accounting Frameworks within the Governments/ Provincial Governments/ City Governments/ Local Bodies/ PSEs of SAFA member countries of SAARC.
3. To make recommendations for adoptability of Cash-Basis Accounting Standard issued by IPSAS in the first-phase for the Governments following Cash-Basis Accounting.
4. To create awareness and highlighting the significance of Accrual-Based Accounting System for Governments & PSEs viz-a-viz recognition of assets, recording of liabilities, revenues & expenses and aspects of accountability & transparency. This would also include holding of seminars & conferences from the forum of SAFA.
5. To outline a plan for shifting of Cash-Basis Accounting System to Accrual-Based Accounting and development of guidelines & checklist for conversion from Cash-Basis to Accrual-Basis Accounting by benefiting from the experience of the countries that have already adopted Accrual-Based Accounting System.
6. To make recommendations covering phase-wise program for implementation of Accrual-Based Accounting System by the SAFA member countries of SAARC.
7. To work closely with the Departments of Controller General of Accounts to promote Accrual-Based Accounting System within the Governments/PSEs of the SAFA countries.
8. To make recommendations for adoption of International Public Sector Accounting Standards (IPSAS) by the Governments/PSEs in the SAFA countries.
9. To review and comment exposure drafts issued by IPSASB.