Why Kenya wants the valuation of public stock in next phase of accrual accounting

Dr Chris Kiptoo

Kenya’s National Treasury Principal Secretary Dr Chris Kiptoo on March 4, 2024. 

Photo credit: File | Nation Media Group

Kenya’s National Treasury has directed accounting officers to assess and value the stock of public inventories to be included in the government’s single balance sheet in the second year of the shift to accrual accounting.

The project, supported and supervised by the World Bank and the International Monetary Fund (IMF), seeks to establish the true picture of the government’s financial position on a quarterly and annual basis by identifying and valuing the assets and liabilities of the government.