About Us | The Organisation

Founding Legislation

Chapter 11 of the Public Finance Management Act (Act no. 1 of 1999 as amended)
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Regulations of the Board



The Minister of Finance has made the following regulations in terms of section 91 of the Public Finance Management Act (Act no. 1 of 1999 as amended)
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Vision, mission and mandate

Vision

To develop accounting standards that enhance financial reporting by all spheres of the Public Sector.

Mission

We achieve this through focused and targeted stakeholder interaction and the provision of relevant and implementable Accounting Standards.

Mandate

1. Set Standards of GRAP
2. Promote the adoption of Standards of GRAP
3. Monitor the implementation of Standards of GRAP
4. Influence development of international standards
5. Manage resources to ensure the ASB is operationally effective.

The Board

The Board serves the public interest by setting Standards of Generally Recognised Accounting Practice (GRAP) and providing guidance for financial reporting for all spheres of government.