Kenya’s National Treasury has directed government accounting officers to identify and value public assets by June, as the Executive moves to adopt a new financial reporting standard that records income and expenses when earned or incurred—not when cash changes hands.
Treasury Principal Secretary Chris Kiptoo, in a circular dated April 14, 2025, seen by The EastAfrican, also instructed the accounting officers to appoint project managers and establish cash-to-accrual transition committees at entity level to oversee the switch.
